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Russia suspends supplies uranium from St. Petersburg to the United States due to lack of insurance coverage. The publication “Rosatom Country” writes about this on the Telegram channel.
“The export of nuclear fuel from the ports of St. Petersburg to the United States has been stopped due to insufficient insurance coverage,” the publication said.
Export stoppage of Russian uranium was one of the reasons for the increase in world prices of this metal, notes Rosatom Country. The publication, citing Trading Economics, reported that on September 25, the price of a pound of uranium rose to $70. Notably, such prices “have not been seen since 2011, after the accident at Japan's Fukushima-1 nuclear power plant.” The previous record figure was also reached in September of this year and was $65.5 per pound.
We must confirm that Trading Economics associated the upward trend in prices with supply uncertainty. Canada's Cameco predicted a drop in production in 2023 and France's Orano stopped working after a coup in Niger.