Posted 21 февраля 2023,, 14:57

Published 21 февраля 2023,, 14:57

Modified 21 февраля 2023,, 17:41

Updated 21 февраля 2023,, 17:41

Uranium prices have jumped to a record 50 euros per pound since November

Uranium prices have jumped to a record 50 euros per pound since November

21 февраля 2023, 14:57
Uranium futures exceeded 50 euros per pound for the first time since November 2022. The sharp rise in quotations is caused by consumer concerns related to a possible shortage of nuclear fuel in the world.

According to Interfax, fuel supplies for nuclear power plants were disrupted after the start of the military special operation (SVO) of the Russian Federation on the territory of Ukraine.

Meanwhile, Russia enriches 38% of the world's uranium, and supplies about 50%.

In the context of the energy crisis associated with a reduction in the supply of cheap hydrocarbons from the Russian Federation, many countries have revised their plans for the development of nuclear energy. The construction of new and expansion of existing plants will require additional fuel supplies for nuclear power plants. This problem is relevant for Germany, Japan, the USA, India, France, South Korea, the UK and a number of other countries.

Against the background of the EU's high dependence on Russian nuclear fuel, the European Commission refused to include uranium in the 10th package of anti-Russian sanctions in response to its own, although a number of countries proposed to introduce such a measure.