Russia has something that is shaking up the green transition ambitions of the US and Europe.

In an effort to diversify supplies and reduce dependence on Russia, the US and several European countries have announced ambitious nuclear power plans in the coming decades to support the green transition.

Uranium cylinders shipped from Russia are unloaded at the port of Dunkirk, France, in March 2023. (Source: AFP)

The United States is boosting low-enriched uranium production with projects such as Centrus Energy Corp's facility in Ohio. Meanwhile, the United Kingdom plans to invest in developing low-enriched uranium production capacity for next-generation nuclear reactors.

In an effort to diversify supplies and reduce dependence on Russia, the US and several European countries have announced ambitious nuclear power plans in the coming decades to support the green transition.

However, a lack of uranium production outside Russia could hamper these plans.

Sanctions on Russian energy and other products, following the Ukraine conflict, have led to global shortages of natural gas, uranium and other critical raw materials.

This has prompted some major powers to diversify their supply chains and increase production of a range of energy and related materials, meaning new uranium production could soon emerge in Europe and the US.

While the US and Europe have imposed tough sanctions on imports of energy products – such as Russian oil and gas – doing the same with uranium is more difficult due to the lack of alternative supplies.

Russia controls about 40% of the world's uranium processing facilities and 46% of the world's total uranium enrichment capacity.

The country is also ahead of its competitors in producing advanced uranium varieties, such as low-enriched uranium with an enrichment rate of 15-19.75%, which is needed to power the latest generation of nuclear reactors.

As Europe diversifies its uranium supplies, Kazakhstan has emerged as a major supplier, providing 26.82% of the European Union (EU)'s uranium by 2022. Kazakhstan has been steadily increasing its production capacity in recent years.

Besides, Niger accounts for 25.38% of uranium supply to the EU, while Canada accounts for 21.99%.

Experts note that Europe and the United States must develop domestic uranium production capabilities if they want to completely avoid uranium production linked to Moscow, as well as ensure that they remain competitive in the nuclear energy sector.

Source: https://baoquocte.vn/nga-so-huu-mot-thu-khien-tham-vong-chuyen-doi-xanh-cua-my-va-chau-au-lung-lay-259665.html