U.S. Passes Legislation to Ban Russian Uranium Imports

U.S. President Joe Biden has signed legislation banning uranium imports from the Russian Federation, and to boost the domestic nuclear industry. The legislation, titled Prohibiting Russian Uranium Imports Act, will take effect on Aug. 11. In addition to the ban, the U.S. uranium market will receive $2.72 billion in federal funding to expand uranium enrichment and conversion capacity.

U.S. Senator John Barrasso (R-WY), ranking member of the Senate Committee on Energy and Natural Resources, in a statement issued after the passage of the bill, underscored the importance of reclaiming U.S. nuclear energy for national security. Barrasso pointed out that

At present, the Russian Federation controls 50 percent of the world’s enriched uranium and accounts for 24 percent of U.S. supplies. Apart from endangering the energy security of the U.S, Sen.Barrasso noted that the U.S. may have unintentionally helped fund the Russian invasion of Ukraine. The uranium prohibition will support a number of sanctions the U.S. has already applied to Russia’s state-owned nuclear power company Rosatom since February 2022, in the wake of Russia’s war with Ukraine.

The U.S. is not alone in its attempts to erode Russia’s influence in the uranium market. The U.S. is a member of a nuclear alliance named the “Sapporo 5,” with four other countries –Canada, France, Japan, and the United Kingdom. On Dec. 7, the leaders of the Sapporo 5 met at the 28th Conference of the Parties to the U.N. Framework Convention on Climate Change (COP28) in the U.A.E to announce plans to mobilize $4.2 billion in government-led investments to build a resilient global nuclear supply chain.

To avoid disruptions from the immediate implementation of the ban for the 94 nuclear reactors currently operating in the U.S., the new law allows
the Secretary of Energy, in consultation with the Secretary of State and the Secretary of Commerce to issue some waivers and permit temporary Russian uranium imports.

In order to obtain a waiver, the applicant should prove that they have no other viable options to obtain uranium.These waivers will only be applicable until Jan. 1, 2028.