The west’s reliance on Russian nuclear fuel is under scrutiny, with Orano, a leading western uranium supplier, calling for more incentives or stricter sanctions to encourage investment in alternative sources. Nicolas Maes, CEO of Orano, emphasized the need for long-term contracts to justify new investments in uranium enrichment capacities. Despite the US banning Russian nuclear fuel imports, Europe’s historical dependence complicates consensus on sanctions. Orano is expanding its enrichment facility in France, aiming to produce by 2028, but this requires significant investment and guaranteed demand. Additionally, geopolitical tensions and supply chain challenges persist, impacting uranium production.
Source and Credit: ft.com
