US Senate passes bill banning import of Russian uranium: What it means.

The US Senate has recently passed a bill that prohibits the import of low-enriched uranium (LEU) that is produced in Russia or by a Russian entity. This bill, known as the Prohibiting Russian Uranium Imports Act, will now go to President Joe Biden to be signed into law.

According to summary information from the US Senate, the bill also bans the import of unirradiated LEU that has been swapped for the banned uranium or obtained in a manner designed to circumvent the restrictions. However, the Department of Energy (DOE) can waive the bill under certain circumstances. For example, if it determines that no alternative viable source of low-enriched uranium is available to sustain the continued operation of a nuclear reactor or a US nuclear energy company, or if imports are deemed to be in the national interest. In such cases, a limited amount of uranium can be imported under the waiver.

The ban is set to come into effect 90 days after the date of enactment and will remain in effect until 2040. This move is part of a broader effort by western nations to reduce their reliance on Russian nuclear fuel in the wake of the war in Ukraine.

Senator John Barraso, a Republican from Wyoming, expressed his support for the bill, stating that he has long advocated for ending America’s dependence on Russian nuclear fuel. He emphasized that Wyoming has the uranium resources to replace Russian imports and is prepared to use them. Barraso believes that the bipartisan legislation will help defund Russia’s war machine, revive American uranium production, and stimulate investments in America’s nuclear fuel supply chain.

Senator Joe Manchin, a Democrat from West Virginia, also contributed to the legislation and highlighted that the ban on Russian uranium imports will unlock $2.72 billion to ramp up domestic uranium fuel production.

This marks the first time formal legislation has been implemented to address the issue of reliance on Russian nuclear fuel. After Russia invaded Ukraine, the U.S. imposed sanctions on Russian-produced oil and gas. However, Russian-enriched uranium is still being imported.

Currently, Russia is the largest foreign supplier of nuclear power fuel to the United States. In 2022, Russia supplied almost a quarter of the enriched uranium used to fuel America’s fleet of more than 90 commercial reactors.

Most of the remaining uranium is imported from European countries, while another portion is produced by a British-Dutch-German consortium operating in the United States called Urenco. Nearly a dozen countries around the world also depend on Russia for more than half of their enriched uranium.

In 2023 alone, the U.S. nuclear industry paid over $800 million to Russia’s state-owned nuclear energy corporation, Rosatom, and its fuel subsidiaries.

It is important to note that 19% of electricity in the U.S. is powered by nuclear plants. If Russia should decide to retaliate by cancelling all uranium furl shipments to the USA, the impact could be harmful to US enrgy prices.

Consider the state of Illinois, which gets roughly half of its electric power from nuclear power plants. In 2023, Illinois generated almost 97.6 terawatt-hours (TWh) of nuclear energy, which is about 49% of the state’s total energy production. Illinois has the most nuclear power reactors in the United States, with 11 reactors at six different power plants. In 2022, these plants produced 52% of the state’s electricity.

In the last several months, US power plants took early delivery on Russian uranium to compensate for the planned ban on Russian fuel.

The dependency on Russian fuels dates back to the 1990s when the United States turned away from its own enrichment capabilities in favor of using down-blended stocks of Soviet-era weapons-grade uranium.

As part of the new uranium-ban bill, the Biden administration plans to allocate $2.2 billion for the expansion of uranium enrichment facilities in the United States.

The passing of the Prohibiting Russian Uranium Imports Act underscores the US government’s commitment to strengthening domestic uranium production and reducing reliance on Russian nuclear fuel. The bill reflects a broader global shift towards greater energy security and independence in the face of geopolitical challenges.