(Dan Tri) – Ukrainian President Volodymyr Zelensky criticized the West for not punishing Russia’s nuclear energy industry like it does oil, gas, and coal.
President of Ukraine Volodymyr Zelensky (Photo: Reuters).
Mr. Zelensky on January 16 criticized Western allies for not embargoing Russia’s nuclear energy industry in the context that the war between Moscow and Kiev is about to enter its third year.
In a speech at the World Economic Forum’s annual meeting in Davos, Switzerland, Mr. Zelensky said that Russia’s nuclear industry is not subject to global sanctions signaling `a clear weakness.`
`Of course, I am grateful for each package of sanctions (the West imposed on Russia). But bringing peace closer to Ukraine will be a reward for all those interested in ensuring that sanctions have
Mr. Zelensky said that Russian President Vladimir Putin will begin to regret launching a special military operation in Ukraine if sanctions cause serious damage to Moscow.
Since the outbreak of hostilities, the West has imposed more than 17,000 sanctions on Russia, turning Moscow into the most sanctioned country in the world.
However, Russia’s nuclear energy industry, managed by state corporation Rosatom, has not yet faced sanctions.
This development is due to Rosatom’s important role in the global nuclear industry.
Despite the war, the US continues to spend billions of dollars importing enriched uranium from Russia, which supplies about 25% of the nuclear fuel for US plants.
The US even doubled its imports of enriched uranium from Russian energy corporation Rosatom in the first half of 2023.
Meanwhile, European Union countries imported more nuclear fuel from Russia in both 2023 and 2022 than before the war began in 2021, according to Reuters.
After the 2011 Fukushima Daiichi nuclear disaster in Japan, many countries halted the construction of nuclear power plants, causing many private fuel supply companies to go bankrupt and disrupting the enriched uranium supply chain.
However, Rosatom not only overcame the above crisis but also entered foreign markets as a new nuclear fuel supplier.
According to Nikkei, Russia’s position in the raw materials market for nuclear power can create a big challenge for Western countries even though they are trying to escape dependence on Moscow’s energy.
Russia owns about 50% of the world’s uranium enrichment infrastructure.
Therefore, the West cannot be aggressive with enriched uranium from Russia because they know that replacing Moscow’s leading position in a short time is impossible.
In addition, the price of uranium supplied by Rosatom is relatively low, making it very competitive.
Therefore, the scenario of the West completely escaping dependence on Russian energy seems unlikely at least in the near future.
