Ukraine war: US bans Russian oil – but what about uranium?
- The US relies on Russia and its allies for roughly half of the uranium powering its nuclear power plants
- Moscow warned of global repercussions to the US blanket ban on the import of Russian crude oil
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Washington bans Russian oil and gas imports over Moscow’s invasion of Ukraine
The US power industry relies on Russia and its allies Kazakhstan and Uzbekistan for roughly half of the uranium powering its nuclear power plants. The industry has been lobbying the White House to continue to allow uranium imports from Russia despite Moscow’s invasion of neighbouring Ukraine.
There is no US uranium production or processing, though several companies have said they would like to resume domestic production in Texas or Wyoming if nuclear power producers sign long-term supply contracts.
A White House document released after Biden announced the oil ban and summarising the Russian sanctions did not mention uranium, confirming reporting from Reuters.
Russia’s uranium production is controlled by Rosatom, a state-run company formed by Russian President Vladimir Putin in 2007. The company is an important source of revenue for Moscow, and exempting US uranium imports is likely to fuel continued questions about how American businesses are financially supporting Russia’s economy.
The National Energy Institute (NEI), a trade group of US nuclear power generators, said it supports development of an American uranium industry.