Biden signs bill banning Russian uranium imports

US President Joe Biden signed a law banning the import of Russian uranium, previously accepted US Congress.

The document will come into force 90 days after its signing. Until January 2028, the US Department of Energy will be able to issue permits for the import of non-irradiated low-enriched uranium produced in Russia or a Russian enterprise if there are no other sources of supply. The restriction will remain in effect until 2040.

US National Security Adviser Jake Sullivan said it was “historic legislation that will strengthen US energy and economic security and eliminate dependence on Russia for civilian nuclear energy.”

According to the Biden administration, “the new law restores America’s leadership in the nuclear sector” and “will help ensure the security of the US energy sector for future generations.”

The White House also hopes that, thanks to unprecedented federal funding of nearly $3 billion recently allocated by the US Congress, new uranium enrichment capacity will be launched in the country.

In addition, the US agreed with Canada, France, Japan and the UK last December to jointly invest more than four billion dollars to expand enrichment and conversion capacity in their countries.

American companies paid Russia approximately $1 billion a year for enriched uranium, the main fuel for commercial nuclear reactors. Rosatom supplied about 20 percent of the enriched uranium used in 93 nuclear reactors in USA.

These deliveries continued even after it was documented in 2023 that Rosatom was working to supply the Russian arms business with components, technology and raw materials for rocket fuel used in the war in Ukraine.

Sales of uranium to the United States brought to Russia last year $1.2 billion, up 43 percent from the year before. Over the past year, world uranium prices have risen by 70 percent. Russia is the main exporter of uranium to the United States.