The United States increased uranium purchases from Russia to an annual maximum
In May, the United States bought enriched uranium from Russia in the amount of $209.5 million, according to RIA Novosti calculations based on data from the American Bureau of Statistics. This is the highest figure since March 2023.
In May, Russia resumed uranium supplies to the United States after a temporary suspension in April. The export volume amounted to 91.1 thousand tons. The value of the transaction was the highest since March last year, when Russia supplied the United States with enriched uranium worth $245.9 million.
In total, the United States in May purchased uranium for the maximum amount ever - $987 million. China became the main exporter of enriched uranium ($323.6 million). France is in second place ($245.4 million), Russia is in third.
In early May, the US authorities adopted a law banning the import of low-enriched uranium. It will come into force in August. Rosatom believes that such sanctions are “destructive for the sustainable functioning of the global market for goods and services of the nuclear fuel cycle.” The head of the IAEA, Rafael Grossi, said that when introducing an embargo there should be reservations, since such measures are now unrealistic.
Uranium production at mines in the United States has been at historical lows in recent years. The industry virtually came to a standstill in 2018 amid low uranium prices.
The United States needs uranium to produce nuclear fuel. The country has 94 nuclear power units with a total capacity of 97 GW, which produce 18% of electricity. American nuclear power plant operators buy the lion's share of uranium raw materials abroad. Main suppliers: Russia, Canada, Kazakhstan, Uzbekistan.