US ban on Russian uranium could backfire

By Judith Perera

US President  Joe Biden has now signed into law HR 1042, the Prohibiting Russian Uranium Imports Act, banning the import of uranium products from Russia.

According to the US Energy Information Administration, Russia has been supplying about 24% of enriched uranium used to fuel the US fleet of 94 commercial reactors, with 12% coming from Germany and 11% from the UK. US production accounts for 27%.

The United States Enrichment Corporation (USEC) ceased production in 2001. Following bankruptcy in 2014, USEC re-emerged as Centrus Energy Corp. While Centrus is developing new centrifuge technologies with the aim of restoring US domestic uranium enrichment capability, it primarily acts as a broker of enriched uranium, sourcing foreign supplies for US and international customers.