Kiev must loosen Moscow’s grip on the nuclear energy market to pave the way for new Western sanctions, the energy minister has explained
FILE PHOTO: Rovno Nuclear Power Plant, Varash, Rovno region, Ukraine. © Getty Images / Iryna_L
Ukraine intends to ramp up domestic uranium production in a bid to elbow Russia out of the global nuclear fuel market, Energy Minister German Galushchenko has said. His comments come after several Western nations announced a coalition – described by Moscow as “unstable” – to achieve the same goal.
Galushchenko deplored that Russia still controls a significant part of the world uranium market and has many contracts with companies worldwide. He described this factor as a significant obstacle to the West being able to put new sanctions on Moscow.
“But we are working hard to push them out of this market, as well as to increase uranium production in Ukraine,” Galushchenko stated in a post by Ukraine’s Energy Ministry on Facebook published on Saturday.
The minister also noted that Ukraine is cooperating with several companies – Canada-based CAMECO in particular – to achieve this goal. Under a deal with the company, Kiev recently sent CAMECO the first batch of uranium extracted at the Eastern Mining and Processing Plant (EMPP) in Dnepropetrovsk Region, the country’s only facility specializing in mining and processing this type of material.