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Europe’s nuclear industry heavily dependent on Russian fuel and technology – no sanctions there.

 Western countries are being urged to stop buying Russian nuclear fuel amid
fears the trade is funding the war in Ukraine. Russia is one of the
world’s largest uranium suppliers with around 40pc of global capacity for
uranium enrichment.

While Europe has been weaning itself off Russian fossil
fuels, its nuclear sector is still heavily dependent on Russian imports.


“We need to escalate our collective pressure against the Kremlin, and the
nuclear industry is exactly one of the arenas that needs to be
considered,” said Tobias Ellwood, chairman of Parliament’s defence
committee. Russia’s dominance in the market, and the reliance of
countries including Hungary and Bulgaria on the fuel, has so far helped it
escape sanctions.

Russian state-owned uranium supplier Rosatom claims 17pc
of the global nuclear fuel market. It expects its 2022 exports growth to
reach 15pc, according to reports. It now has $200bn (£135bn) of orders.
Western countries have been stepping up their efforts to restrict
Russia’s revenues from oil as its war on Ukraine drags on. Companies such
as EDF in the UK have sought other suppliers in the wake of the war, but
there are concerns that Russia’s control of the market will return when
the conflict ends.

 Telegraph 30th Dec 2022

https://www.telegraph.co.uk/business/2022/12/30/western-countries-urged-stop-buying-russian-nuclear-fuel/

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January 1, 2023 - Posted by | EUROPE, politics international

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