Sergey Kondratiev, Deputy Head of the Economic Department of the Institute for Energy and Finance, commented to the internet portal Vzglyad on the supply of Russian nuclear fuel to the United States.
The US nuclear industry is ready to abandon Russian uranium, said seven senators representing both the Democratic and Republican parties. They submitted for consideration a relevant bill to ban the import of Russian uranium.
However, all this will take a long time - from three to five years.
“The US in terms of gross resource is in the top 10 countries in terms of uranium reserves. However, uranium production in the country in the last 25 years has decreased manifold. This was largely due to the fact that in Kazakhstan, Uzbekistan, and African countries, the development of reserves was more economically profitable, cheaper. And American manufacturers simply could not compete. Today, the Americans can try to return to these projects and increase production. But this will require support and subsidies at the state level. It is possible that customs duties will be introduced, which will help American manufacturers operate with a positive margin in the market,” Kondratiev says.
“And this will not mean that in five years the United States will be able to completely replace Russian uranium, and even more so to refuse imports altogether. If the cost of nuclear fuel increases significantly, this may lead to changes in the electricity market. And some nuclear power plants in the US may even decide to leave the market,” the expert does not exclude.
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