G7 countries want Moscow to leave the nuclear energy market.
April 17, 2023Tweet
The UK, US, Canada, Japan and France have formed an alliance to reduce their dependence on Russian nuclear supply chains. The agreement was reached on the sidelines of a G7 meeting in Sapporo, and the five countries have vowed to use their respective resources and capabilities to “ensure the secure supply of uranium fuel through the development of shared supply chains that isolate Russia.” The move comes after it was revealed that a number of EU countries were also planning to cut their reliance on Russian uranium by turning to Kazakhstan for supplies. Russia is considered to be one of the world’s largest uranium producers, but after Moscow launched its military operation in Ukraine over a year ago, a number of countries have been seeking to reduce their dependence on Russian supplies. Experts in the nuclear energy field have warned that any disruption in supplies of Russian uranium would “shake” the market and cause “upward pressure” on prices.
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