Yesterday, President Joseph R. Biden enacted H.R.1042, the Prohibiting Russian Uranium Imports Act, effectively banning the importation of Russian uranium and marking a significant shift in the U.S.'s reliance on foreign nuclear fuel sources. This move is aimed at bolstering domestic nuclear fuel production by unlocking $2.72 billion recently appropriated by Congress to expand domestic uranium enrichment and conversion capacity.
"Our nation’s clean energy future will not rely on Russian imports," stated Secretary of Energy Jennifer M. Granholm. "We are making investments to build out a secure nuclear fuel supply chain here in the United States. That means American jobs supporting the Biden-Harris Administration’s commitment to a clean, safe, and secure energy economy."
This development represents another step taken by the Biden-Harris Administration towards reducing U.S. dependence on Russian materials and securing a robust domestic fuel supply for the nation's clean energy assets.
The law is set to take effect on August 11, 2024. Acknowledging potential disruptions to nuclear reactor operations in the short term due to this ban, the law authorizes the Secretary of Energy, consulting with both Secretaries of State and Commerce, to waive this prohibition under certain conditions. This waiver may be granted if an applicant can demonstrate that they have no alternative viable source of uranium or that such imports are in national interest. Any waivers granted by the Secretary of Energy will be subject to annual aggregate limits and will expire no later than January 1, 2028.
In conjunction with appropriations, this ban helps fulfill multilateral efforts to encourage a secure global nuclear energy fuel supply's development. Last December saw a commitment led by the U.S., alongside allies including France, United Kingdom, Japan, and Canada, to collectively invest $4.2 billion in establishing a resilient global uranium supply market free from Russian influence.