Russia Halts Uranium Exports to US: Nuclear Power Supply Chain at Risk

Washington, D.C., Tuesday, 19 November 2024.
In a significant move affecting global nuclear fuel markets, Russia has canceled TENEX’s license to export low-enriched uranium to the United States through 2025. With Russia providing 27% of US reactor fuel and controlling 44% of global enrichment capacity, this decision could severely impact American nuclear power generation. The restriction comes as retaliation to US sanctions, creating uncertainty for energy suppliers like Centrus Energy, whose shares dropped 4.3% following the announcement.