US Probes Surge In Chinese Uranium Imports Amid Fears Of Russian Ban Evasion

The Biden administration has initiated an investigation into the significant surge in enriched uranium imports from China. This move comes amid concerns that these imports may be a loophole for Russia to sidestep a U.S. import ban.

What Happened: The U.S. government is examining a sudden increase in Chinese uranium imports since late 2023. The fear is that these imports might be aiding Moscow to circumvent a U.S. ban on Russian uranium, a measure put in place to hinder Russia’s funding for its war on Ukraine, Reuters reported on Tuesday.

Following the ban on Russian uranium by the U.S. House of Representatives in December 2023, Chinese uranium shipments to the U.S. escalated to 242,990 kilograms. This spike is significant, considering China did not export any enriched uranium to the U.S. from 2020 to 2022.

The U.S. Department of Energy is closely monitoring these imports to ensure compliance with the Prohibiting Russian Uranium Imports Act. The department spokesperson stated that the U.S. is vigilant about imports from China and other countries to prevent them from importing Russian uranium under the guise of exporting domestically produced material.

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Why It Matters: President Joe Biden signed the ban on Russian uranium into law in May, aiming to cut off a significant funding source for Russia amid its conflict with Ukraine. This move was welcomed by North American uranium mining companies, which have been increasing production due to rising prices and growing demand for nuclear fuel.

In response to the ban, the U.S. also announced a $2.7 billion investment in domestic uranium production to reduce reliance on Russian imports. This initiative is part of a broader strategy to bolster the domestic supply chain for nuclear reactor fuel, which previously relied heavily on foreign sources, including Russia.

China’s increased uranium imports have also drawn scrutiny, especially given the geopolitical tensions between the U.S. and China. In August, Chinese state media criticized President Biden’s revised nuclear strategy, accusing the U.S. of using China as an excuse to maintain a large nuclear arsenal. The Global Times, a Beijing government media outlet, suggested that the U.S. should focus on rebuilding mutual trust with China through dialogue.

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This story was generated using Benzinga Neuro and edited by Pooja Rajkumari