Russia-Ukraine war: Biden considering sanctions on Russian Uranium Supplier Rosatom

As Russia continues to increase its aggression against Ukraine, United States on Wednesday flagged that it is weighing sanctions on Russian nuclear agency Rosatom Corp. White House is currently in consultations with nuclear power industry over potential impact of ban on Russia's state-owned atomic energy company, which is a major supplier of technology and fuel to global power plants, a senior official told prominent news media, under conditions of anonymity. However, he ded, while all options were on table, final decision has not been me yet, as reported by Bloomberg.

So far, it is not clear what impact of potential sanctions on Rosatom would mean on US-based nuclear plants and fuel importers, since Russia accounted for 16.5% of uranium imports in US in 2020. As per Bloomberg, Russian atomic energy supplier is a delicate target as company and its subsidiaries account for nearly 35% of global uranium enrichment. Also, it is in agreement to ship nuclear fuel to countries across Europe.

"re is time to deal with this. As long as sanctions go off in next couple of years it is not going to interrupt much operationally," said Seth Grae, a chief executive officer of Lightbridge Corp., which is a nuclear fuel technology development company.

Biden said US would not sanction uranium from Russia

Notably, uranium imports were not included in list of sanctions when US President Joe Biden on Tuesday announced a ban on Russian imports of oil, oil products, coal and or energy products. However, a senior Biden ministration official said that no decision on matter was imminent. Meanwhile, American uranium producers have supported ban, nuclear industry groups have lobbied against it. "We cannot afford to not have Russian uranium and enrichment. It is cheaper than or global sources while US' production is negligible," Chris Gomski, a nuclear energy analyst, told Bloomberg.

US imposes sanctions on Russian crude oil and oil products

In retaliation to increasing Russian attack on Ukraine, Biden on Tuesday imposed an immediate ban on Russian oil and or energy products. Although ban would drive up alrey high fuel prices in America, Biden said it was necessary to cripple Russian economy. He ded that Washington was "moving forward" with this sanction, understanding that many of its European allies "may not be in a position to join us."

ban attacks "main artery" of Russia's economy, Biden said while concluding his remarks at White House. To note, sanctions come in dition to plethora of financial and individual penalties Washington imposed on Moscow and Russia-based entities, including Putin and his cabinet, after on February 21 Kremlin unilaterally identified two breakaway territories of Ukraine and later on February 24 unleashed a bloody military invasion of Kyiv.

(Image: AP)