Sightful Invest
  • Business
  • Investing
  • Politics
  • Stock
Top Posts
Trump says ‘big, beautiful’ bill ‘must’ meet deadline...
Trump touts administration’s progress on peace deals, says...
Venezuelan opposition member details harrowing 400-day captivity at...
Anxious Republicans turn to Trump amid divisions over...
JD Vance poised to clinch victory for Trump’s...
Trump secures record-shattering $1.4B for political war chest,...
Senate shuts down Kaine’s attempt to check Trump’s...
Trump’s ‘big, beautiful bill’ faces Republican family feud...
Marco Rubio holds first meeting with families of...
Trump’s NATO Turnaround: From threatening to pull US...
  • Business
  • Investing
  • Politics
  • Stock

Sightful Invest

Investing

Russia Restricts US Uranium Exports, Retaliating to American Ban

by admin November 19, 2024
November 19, 2024
Russia Restricts US Uranium Exports, Retaliating to American Ban

The Russian government has imposed temporary restrictions on enriched uranium exports to the US.

Announced on November 15, the move follows the US’ decision toban imports of Russian uranium.

While the US legislation went into effect in August, it allows for waivers to address potential supply disruptions through 2027. The new Russian policy introduces uncertainty during this time period.

According to the US Energy Information Administration, Russia provided 27 percent of the enriched uranium used in American reactors in 2023. Globally, the country accounts for about 44 percent of enrichment capacity.

To illustrate, Urenco — a consortium-owned company operating the only US-based enrichment facility in New Mexico — supplies only about one-third of the country’s enriched uranium.

While the restrictions from Russia don’t leave the US without recourse, as utilities typically secure uranium supply years in advance, analysts are warning that continued restrictions could pose challenges from 2025 onward.

Market responses to the news were swift. Cameco (TSX:CCO,NYSE:CCJ), a leading uranium producer, emphasized in a statement to Bloomberg the need for coordinated western action to reduce reliance on Russian nuclear fuel.

Shares of uranium companies reflected the heightened supply concerns, with Cameco’s share price jumping as much as 6.5 percent on the TSX on November 15. US-based uranium firms such as Uranium Energy (NYSEAMERICAN:UEC) and Ur-Energy (TSX:URE,NYSEAMERICAN:URG) also experienced upticks that day.

Meanwhile, shares of Centrus Energy (NYSEAMERICAN:LEU), the biggest US trader of Russian enriched uranium, fell by close to 9 percent on November 15 as investors weighed the potential impacts of the restrictions.

The company said it had not received details surrounding Russia’s decree and was assessing the implications.

Centrus also noted that it has contingency plans to mitigate near-term impacts should Russia’s state-owned uranium supplier, Tenex, face challenges fulfilling existing agreements. Centrus is one company that has received a waiver from the Biden administration to continue importing Russian uranium despite the US ban.

Constellation Energy (NASDAQ:CEG) has also received a waiver, and other requests are reportedly pending.

Russia’s actions come amid broader geopolitical tensions and follow President Vladimir Putin’s earlier call for the country to consider restricting exports of uranium, titanium and nickel in response to western sanctions.

At the same time, the US government has been actively working to rebuild its uranium enrichment capabilities. A multibillion-dollar initiative to expand these operations is underway, but progress has been slow.

Overall, the US is currently looking triple its nuclear capacity by 2050, with plans to add 200 gigawatts of new nuclear energy through reactor builds, reactivations and upgrades to existing facilities.

Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.

This post appeared first on investingnews.com

previous post
Mawson Finland Limited Presents Downhole EMGeophysics: Multiple Deep Conductors Newly Identified at Rajapalot
next post
Australian Ethics Committee Approval to Expand PD-L1 Nanobody (RAD204) Phase 1 Trial in Multiple Tumor Types

You may also like

StrategX Discovers High-Grade Copper at East Arm, Great...

February 20, 2025

Harvest Gold Identifies 15 Primary And 10 Secondary...

June 13, 2025

6 Best-performing Lithium Stocks of 2024

October 26, 2024

CHARBONE Hydrogen Announces Grid Interconnection Date Now Confirmed...

January 15, 2025

Tech 5: Bitcoin’s Price Sets Five New Records,...

November 23, 2024

Element79 Corporate Financing Update

November 26, 2024

Tech 5: DeepSeek Disrupts AI Landscape, Tech Stocks...

February 2, 2025

Astral’s Group Gold Mineral Resource Increases to 1.46Moz...

November 3, 2024

Cygnus intersects new high-grade gold, plus visible gold*...

April 17, 2025

1911 Gold Intersects up to 21.80 g/t Gold...

February 26, 2025

Recent Posts

  • Trump says ‘big, beautiful’ bill ‘must’ meet deadline as some Republicans waver
  • Trump touts administration’s progress on peace deals, says world leaders ‘respect our country again’
  • Venezuelan opposition member details harrowing 400-day captivity at UN
  • Anxious Republicans turn to Trump amid divisions over ‘big, beautiful bill’
  • JD Vance poised to clinch victory for Trump’s landmark bill as GOP finalizes strategy

    Become a VIP member by signing up for our newsletter. Enjoy exclusive content, early access to sales, and special offers just for you! As a VIP, you'll receive personalized updates, loyalty rewards, and invitations to private events. Elevate your experience and join our exclusive community today!


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Categories

    • Business (803)
    • Investing (2,415)
    • Politics (3,000)
    • Stock (4)
    • About us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: sightfulinvest.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2024 Sightful Invest. All Rights Reserved.