With the largest nuclear fleet in the world (93 nuclear reactors with an installed capacity of 95 GW, generating 20 % of US electricity), the US has almost completely lost its uranium mining. The US imports 95 % of its uranium.

At the same time, the US is heavily dependent on Russia for uranium, comparable to Europe and gas: every seventh tonne burned in US reactors comes from Russia. Moreover, 28% of uranium enrichment services for US electricity generation are provided by Russia’s Rosatom. The dependence is critical, to say the least. The United States will not be able to replace that capacity, either in ores or enrichment, even within a few years. And it is a great resource for Russian counter-sanctions, if the government really wanted to impose them. The same “uranium for roubles” at Sberbank would solve the bank’s problems with all the sanctions.