Russia's uranium export restrictions to US a 'retaliatory response'
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Kremlin spokesperson Dmitry Peskov states that Russia's uranium ban to the United States is a symmetrical response to the latter's sanctions.
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Kremlin spokesman Dmitry Peskov speaks to journalists prior to Russian President Vladimir Putin's annual news conference in Moscow, Russia, on December 23, 2021. (AP)
Kremlin spokesman Dmitry Peskov stated on Monday that Russia's restriction on enriched uranium exports to the United States is a reciprocal action, and there is no intention to harm Russia's interests.
Last Friday, the Russian government announced it had imposed temporary restrictions on enriched uranium exports to the US, with some exceptions for shipments covered by one-time licenses issued by the Federal Service for Technical and Export Control.
This comes after considerations of "retaliatory measures" that constitute a symmetrical response to US sanctions that fall within Russia's interests, Peskov stated, noting that "a ban has been introduced, but in cases where it is in our interests, the Federal Service for Technical Export Control of Russia may decide to exclude it from this list of prohibitions."
Back in August, the United States passed a bill temporarily banning Russian imports, however, it includes loopholes that enable US buyers to continue their trade relationship with Moscow. The law was approved by the US Congress and signed by President Joe Biden on May 13.
Although the legislative norm is valid and is expected to be lifted on December 31, 2040, the US Department of Energy in consultation with the State Department and Department of Commerce has the right to continue uranium deliveries with Russia in cases that serve Washington's interests until January 1, 2028.
The initiative to ban Russian uranium imports was initially submitted by Republican Congresswoman Cathy McMorris Rodgers to the US House of Representatives in February 2023, backed by Wyoming Senator John Barrasso in March with the introduction of a similar initiative to the Senate.
2023 marks US highest record of Uranium imports from Russia
In 2023, the US imported $1.2 billion worth of Russian uranium, the highest ever on record.
The US Congress tried to apply a ban in December on imports of Russian uranium as part of the sanctions campaign against the latter over the Ukraine conflict, however, the bill was stuck in the Senate.
Amid the political talks on banning uranium, US purchases of Russian uranium jumped twice the previous amount in December to $193.2 million, RIA Novosti said, explaining that this resulted in a total value of shipments for the year increasing by 43%, hitting a new record of $1.2 billion.
They added that Russia has persisted as America’s top supplier of uranium in terms of monetary value while based on volume, it is the fourth-largest supplier to the US, with Canada in the top spot, according to calculations provided by S&P Global.
The US has its own deposits of uranium, but they are not enough to supply the US' nuclear power sector. On the other hand, Russia has the world’s largest uranium enrichment complex, accounting for almost half of the global capacity. It would take at least five years of extended investment for the US to break its dependence on Russian imports of uranium used to fuel nuclear reactors, according to certain estimates.
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