Ukraine: Russia could devastate US, EU economy with ban on Uranium, reactor tech & components

According to research fellows Matt Bowen & Paul Dabbar from the Center for Global Energy Policy at Columbia University, a stop in uranium supply will hit US consumers harder.

The report was contained in an article which was written and published in “The Hill” and says that if Russia should stop supplying it’s specially enriched uranium to US energy companies, USA will face serious consequences for reactor operations. They reiterated popular rhetorics amongst the populace when they restated that –

“There are several segments of the commercial nuclear value chain where a Russian supplier could impact the availability of a reactor in the West to provide power. For nuclear fuel, these include uranium mining and milling, conversion, enrichment and fuel fabrication. For existing Russian-designed reactors, they include providing unique original equipment manufacturer spare parts and services.

“This could lead to a shutdown of reactors, and given that nuclear energy accounts for more than 20 percent of generating capacity in some parts of the country, electricity prices will jump even above today’s inflation,” the publication says.

From the article, Matt Bowen & Paul Dabbar reminded that several reactors currently operating in the US and EU are manufactured by Russia. This means that Putin’s Russia also supplies the components for them. Should the conflict in Ukraine escalate further and the Kremlin feels aggrieved from NATO led military intervention,  many nuclear power plants will be forced to suspend work if Russia cuts off supply.

According to them,

“Russia holds 46 percent of uranium enrichment capacity. The vast majority of the 439 reactors around the world require enriched uranium fuel, including all reactors in the U.S. fleet.”

“Western leaders need to immediately consider their exposure to Russian nuclear exports and take steps to reduce it or face another energy shock at the hands of Putin.” the publication stated.

After the start of the Russian special operation to liberate Donbass, the West stepped up sanctions pressure on Moscow. Some countries announced the freezing of Russian assets, while several European and American brands left the country. The European Union has already adopted six packages of sanctions, which, in particular, provide for the gradual introduction of an embargo on the import of coal and oil from Russia.

The Kremlin called what is happening an economic war, the likes of which have not yet been witnessed before. As Vladimir Putin stated , the policy of containing and weakening Russia is a long-term strategy of the West, and the sanctions have dealt a serious blow to the entire world economy. According to him, the main goal of the United States and Europe is to worsen the lives of millions of people.

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