{"id":1444443,"date":"2023-12-17T23:05:00","date_gmt":"2023-12-18T04:05:00","guid":{"rendered":"https:\/\/bugaluu.com\/news\/?p=1444443"},"modified":"2023-12-17T23:05:00","modified_gmt":"2023-12-18T04:05:00","slug":"kremlin-may-preemptively-bar-uranium-exports-to-u-s-firm-warns","status":"publish","type":"post","link":"https:\/\/bugaluu.com\/news\/kremlin-may-preemptively-bar-uranium-exports-to-u-s-firm-warns\/1444443\/","title":{"rendered":"Kremlin May Preemptively Bar Uranium Exports To U.S., Firm Warns"},"content":{"rendered":"

Kremlin May Preemptively Bar Uranium Exports To U.S., Firm Warns<\/span><\/p>\n

\n

Oil isn’t the only commodity at the center of tensions between the U.S. and Russia…<\/p>\n

Now\u00a0Russian state-owned uranium company Tenex is telling American customers that “the Kremlin may preemptively bar exports” to the U.S. if Washington passes certain legislation that would prohibit imports beginning in 2028, Bloomberg reported on Friday<\/a>.\u00a0<\/p>\n

Tenex’s US branch has already alerted firms like Constellation Energy, Duke Energy, and Dominion Energy about a potential scenario, the report says, though Russia hasn’t finalized a decision. The individual companies didn’t respond to comments from Bloomberg<\/em>, while Rosatom, Tenex’s parent company, refuted claims of any warnings issued to US clients.<\/p>\n

Rosatom commented:\u00a0\u201cTenex completely refutes as inaccurate the information regarding the alleged \u2018warnings\u2019 of a potential \u2018pre-emptive\u2019 ban on enriched uranium supplies to the United States.\u201d<\/p>\n

\u201cNeither Tenex itself nor any of its subsidiaries have issued any such notifications to their foreign customers,\u201d they added.\u00a0<\/p>\n

Banning Russian uranium exports could disrupt markets and increase fuel prices, affecting smaller utilities, the report says.<\/p>\n

As a reminder, the US Senate halted a fast-track approval of a House bill banning Russian uranium imports, though it remains popular and might resurface.<\/p>\n

<\/a><\/p>\n

If the bill passes it would permit imports until 2028 via waivers, giving utilities time to find other sources.<\/p>\n

Russia, supplying nearly a quarter of America’s enriched uranium last year, is a key provider.<\/p>\n

Jonathan Hinze of UxC LLC told Bloomberg <\/em>that without these waivers, prices could jump from $152 to a record $180 per separative work unit.<\/strong> SWUs measure uranium’s volume and enrichment.’<\/p>\n

He added: \u201cBut if there is an immediate ban it could be even more extreme. There are very limited supplies available.\u201d<\/strong><\/p>\n

Recall we noted at the end of October<\/a> that hedge funds were loading up on uranium stocks, many of which have had returns double digit percentages higher than the S&P for 2023, after uranium lagged in previous years.\u00a0<\/p>\n

\u201cWe\u2019re most focused on uranium miners in public markets,\u201d Arthur Hyde, a portfolio manager at\u00a0Segra Capital<\/a>, told\u00a0Bloomberg <\/em>two months ago.\u00a0\u201cFor the supply and demand of this market to balance, we need new assets to come online…If you\u2019re going to insulate the US, Europe and Canada from the global fuel cycle, which is heavily dependent on Russia and China, the best way to do that is to build new mines, new conversion capacity, new enrichment capacity.\u201d<\/p>\n<\/div>\n

Tyler Durden<\/a><\/span>
\nSun, 12\/17\/2023 – 18:05<\/span><\/p>\n

\u200bhttps:\/\/www.zerohedge.com\/markets\/kremlin-may-preemptively-bar-uranium-exports-us-firm-warns<\/a>\u00a0<\/p>\n

\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"

Kremlin May Preemptively Bar Uranium Exports To U.S., Firm Warns Oil isn’t the only commodity at the center of tensions between the U.S. and Russia……<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-1444443","post","type-post","status-publish","format-standard","hentry","category-news","wpcat-1-id"],"_links":{"self":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts\/1444443","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/comments?post=1444443"}],"version-history":[{"count":0,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts\/1444443\/revisions"}],"wp:attachment":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/media?parent=1444443"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/categories?post=1444443"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/tags?post=1444443"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}