Russia, China turn nuclear fuel into bargaining chip with the West

U.S. ban on Russian imports has led to greater dependence on Beijing

Russian companies hold about 40% of the global market for enriching uranium. © Reuters

TAKAYUKI TANAKA and MADOKA KITAMATSU, Nikkei staff writers

January 14, 2025 03:17 JST

VIENNA/PARIS -- Russia and China are leveraging their supply of low-enriched uranium for nuclear power plants to exert pressure on the U.S. and Europe as global demand for energy grows.

Uranium fuel used in nuclear power plants is enriched with special centrifuges in a process that takes three to five years. Russian companies hold a roughly 40% global market share, leading in the field. Companies in the U.K., France and China -- all nuclear weapons states -- account for the rest.