US Senate Unanimously Votes to Halt Enriched Uranium Imports from Russia

In a unanimous decision on the evening of April 30th, the US Senate voted to pass a bill banning the import of enriched uranium from Russia.

The legislation, sourced from Bloomberg, is now headed to President Joe Biden’s desk for signature. The law will come into effect 90 days after signing, with certain exemptions allowed until January 2028.

In the event of a lack of alternative supply sources, the US Department of Energy may issue permits for the import of enriched uranium from Russia. The law’s term will expire at the end of 2040.

Russia has been supplying nearly a quarter of the enriched uranium used as fuel for American fleets, serving over 90 commercial reactors, making it the primary foreign supplier.

These sales generate approximately $1 billion annually for Russia. However, replacing these supplies may pose a challenge and risks increasing the price of enriched uranium by approximately 20 percent.

The White House has called for a “long-term ban” on Russian imports, necessary to unlock approximately $2.7 billion to support the domestic uranium industry, as provided by Congress earlier this year.

The import ban will take some time to impact US nuclear power plant operators. Reactors are typically refueled every 18-24 months, with fuel purchases planned well in advance.

This means that most, but not all, utility companies already have enough uranium to keep their reactors running for at least the next few years.

Main Image: By Scrumshus – Own work, Public Domain, https://commons.wikimedia.org/w/index.php?curid=2155457