U.S. Cuts Russian Nuclear Fuel Reliance by 7% as Domestic Production Surges
The U.S. is reducing its reliance on Russian nuclear fuel, with a 7% decrease in Russian presence in the sphere since last year. This shift follows U.S. efforts to boost domestic production and energy independence, as well as export bans imposed on Russia in 2022.
The U.S. Department of Energy has allocated billions of dollars to revive domestic nuclear fuel production. This initiative aims to achieve energy independence and reduce reliance on foreign sources, particularly Russia. The department can issue special permits for Russian nuclear fuel imports until 2028, under specific conditions.
In 2022, the U.S. introduced export bans on energy technology to Russia in February and March. Despite these restrictions, supplies from Russia continue due to exceptions built into the ban. Companies such as Constellation Energy Corp. and Centrus Energy Corp. have received permits to import Russian nuclear fuel under these conditions.
The U.S. is actively working towards energy independence, with a focus on increasing domestic nuclear fuel production. While export bans on energy technology to Russia remain in place, exceptions allow for continued Russian supplies until 2028, with the Department of Energy overseeing the process.
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