Why the US and Europe Still Buy Russian Nuclear Fuel
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The US and its European allies moved fast to choke off exports of oil, natural gas and coal from Russia after President Vladimir Putin ordered troops into Ukraine. When it comes to atomic energy, however, Kremlin-controlled Rosatom Corp. continues to be the dominant source of fuel for the world’s nuclear power stations. It supplies about half of global demand for enriched uranium. Western nations are racing to rebuild the capacity to supply the fuel, which had dwindled in recent years, but progress is likely to be slow.