U.S. President Joe Biden signs law banning Russian uranium imports

President Biden signs law banning Russian enriched uranium imports, aiming to reduce reliance on Russia for nuclear power.

U.S. President Joe Biden signed into law a ban on Russian enriched uranium on Monday, May 13, 2024, the White House said, in the latest effort by Washington to disrupt President Vladimir Putin's invasion of Ukraine.

The ban on imports of the fuel for nuclear power plants begins in about 90 days, although it allows the Department of Energy to issue waivers in case of supply concerns.

Russia is the world's top supplier of enriched uranium, and about 24% of the enriched uranium used by U.S. nuclear power plants come from the country.

The law also unlocks about $2.7 billion in funding in previous legislation to build out the U.S. uranium fuel industry.

"Today, President Biden signed into law a historic series of actions that will strengthen our nation's energy and economic security by reducing, and ultimately eliminating, our reliance on Russia for civilian nuclear power," Jake Sullivan, the national security adviser, said in a statement.

Mr. Sullivan said the law "delivers on multilateral goals we have set with our allies and partners," including a pledge last December with Canada, France, Japan and the United Kingdom to collectively invest $4.2 billion to expand enrichment and conversion capacity of uranium.

The waivers, if implemented by the Energy Department, allow all the Russian uranium imports the U.S. normally imports through 2027.