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The Russian government has announced “temporary restrictions” on exports of enriched uranium to the US — but no timeline has been given for when the restrictions might be removed.
The ban is reportedly in response to US restrictions on imports of Russian uranium products for 2024-2027 and, from 2028, a ban on imports of Russian uranium products.
The only exception to the restrictions applies to supplies under one-time licenses by the Federal Service for Technical and Export Control.
President Putin has reportedly also instructed the government to look into the possibility of restricting other strategic raw materials, including nickel and titanium.
In May 2024, the Biden administration enacted a law to ban the import of Russian uranium to revive domestic nuclear fuel production, including US$2.72 billion to invest in uranium enrichment and conversion capacity.
Our recent analysis on where new uranium supply will come from:
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