Description: Assistant Secretary of State Geofrey Pyatt has stated that despite sanctions, the US still much relies on Russian supply of enriched uranium in its civil nuclear facilities. With the signing of The Prohibiting Russian Uranium Act, the US has authorized additional $2.7 billion in authorized funding for US – based enrich uranium production. Environmental concerns and low – cost production of rival countries has depleted US civilian nuclear capabilities while Russia still holds approximately 44% of the enriched uranium market worldwide.
Impact: With the increased development of AI technology, which requires stable energy and supply in large ammounts, nuclear fuel is still being largely present in the energy industry, the US would look to significantly lower its dependency on Russian enriched uranium in light of imposed sanctions. Russia still enjoys the privileged monopolized position on the market and would aim to diversify its export portfolio in order to enlarge their economic capabilities. The information attests to the fact that US sanctions could be only considered as a half – measure in an attempt to seriously plummet Russian economy and decrease their funding amid the war with Ukraine.