US Senate passes bill to ban Russian uranium imports, now awaiting President Biden's signature
On the evening of April 30, the US Senate voted to adopt a law banning the import of enriched uranium from Russia and handed the document to US President Joe Biden for signature, reported Bloomberg.
The Prohibiting Russian Uranium Imports Act, approved unanimously, would ban imports into the US 90 days after it takes effect, allowing for temporary waivers until January 2028.
The legislation, which expires at the end of 2040, allows the US Department of Energy to issue exemptions from the full volume of Russian uranium imports, Bloomberg writes.
According to the US Energy Department, Russia supplied nearly a quarter of the enriched uranium used to fuel the US fleet of more than 90 commercial reactors, making it the top foreign supplier.
Those sales bring Russia about $1 billion a year, but replacing those supplies could be a challenge and risks raising the price of enriched uranium by about 20%, the news agency said.
The White House has called for a "long-term ban" on Russian imports, which is needed to unlock about $2.7 billion in support for the domestic uranium industry granted by Congress earlier this year.
Russia may respond with a unilateral ban on exports if the United States bans imports, Bloomberg believes.
The import ban will take some time to affect US nuclear power plant operators. Reactors are typically refueled every 18 to 24 months, and fuel purchases are negotiated well in advance. That means most, but not all, utilities have already secured enough uranium to keep their reactors running for at least the next few years, Bloomberg added.
Nuclear plants in Eastern Europe, which previously received enriched uranium from Russia, are seeking to reduce their dependence on Moscow and plan to sign a contract with a Kazakhstan uranium mining company as early as 2025.
On April 30, the energy ministers of the G7 countries agreed to reduce dependence on the supply of Russian products for their nuclear energy needs.