Russia Warns that U.S. Ban on Russian Nuclear Fuel Could Disrupt Global Market

The recent U.S. ban on Russian nuclear fuel has sparked controversy and tension between the two countries, with Russia’s state nuclear corporation Rosatom calling it a discriminatory political move. President Joe Biden signed the ban into law on Monday, citing concerns over national security and reducing dependence on Russian enriched uranium.

Rosatom, which holds a significant share of the global market for enriched uranium, expressed disappointment in the U.S. decision, calling it unfair and non-market-oriented. Despite this setback, the corporation remains committed to developing its global business and maintaining its position as a leader in nuclear technologies.

The Kremlin also weighed in on the issue, criticizing the U.S. for resorting to measures that distort and undermine global market norms. Kremlin spokesman Dmitry Peskov emphasized Russia’s advanced and competitive nuclear industry, stating that the country will continue to develop and expand its capabilities.

While the U.S. ban may not have a critical impact on Russia’s nuclear industry, Rosatom warned that it could harm the global market for nuclear fuel cycle products and services. Russia is currently increasing the share of nuclear energy in its energy production, with plans to reach 25% by 2045.

The ongoing tensions between the U.S. and Russia over nuclear fuel highlight the complexities of international relations and the challenges of balancing national interests with global market dynamics. As both countries navigate these issues, the future of the nuclear energy industry remains uncertain.