supplies of Russian uranium to unfriendly countries increased by 20–25% – Kommersant

The head of the Rosatom state corporation, Alexei Likhachev, said that in recent years, supplies of Russian uranium to friendly countries have increased by 70–80%, and to unfriendly countries by 20–25%. Rosatom expects to replace supplies to unfriendly countries and receive additional income from supplies to friendly ones after 2030.

“Taking into account both prices and volumes, we have a certain increase – on average 20-25% in recent years in the markets of unfriendly countries. And we continue to implement all our obligations. The growth rate of supplies to the markets of friendly countries is three times higher – 70–80%. It is not difficult to calculate that during the period until 2030 we will completely replace, and starting from 2030-2032, we will achieve additional profitability of our raw material supplies to the markets of friendly countries,” Mr. Likhachev said in an interview with RT TV channel at the Atomexpo-2024 forum ( quote from TASS).

Alexey Likhachev noted that Rosatom is in second place in the world in terms of uranium reserves and third in its production. The state corporation also ranks third in the world in the fabrication of nuclear fuel and is a leader in uranium enrichment. “That is, speaking in sports terms, we are the absolute leaders not only in the export of nuclear power plants, but also in the nuclear fuel cycle. And since this is all in our circle, and we are the leaders there, it is obvious that our cost and quality are optimal,” he said and added that no sanctions “will in any way restrain the Russian Federation,” since the markets of friendly countries are for it comfortable.

In February 2024, the United States imposed sanctions on three Rosatom subsidiaries – Rusatom Arctic JSC, Innohub LLC and FSUE NITI im. A.P. Aleksandrova.” The introduction of sanctions against Rosatom itself was discussed in the European Union, but the decision was not agreed upon, including due to the position of Hungary and Bulgaria. Head of the International Atomic Energy Agency Rafael Grossi saidthat the introduction of sanctions against Rosatom would lead the nuclear industry of many Western countries to a dead end. According to the Financial Times, the United States can enter a ban on the import of Russian enriched uranium as early as 2024.

Read more about the global uranium market in the Kommersant article. “Early Revival”.

Milena Kostereva