The Western reliance on Russian nuclear fuel has come under intensified scrutiny, with Orano, a major uranium supplier in the West, urging for either increased incentives or stricter sanctions to stimulate investment in alternative fuel sources. Nicolas Maes, the CEO of Orano, highlighted the necessity of long-term contracts to justify substantial investments in new uranium enrichment capacities. While the United States has already imposed a ban on Russian nuclear fuel imports, Europe’s ongoing dependence on Russian fuel complicates efforts to reach a consensus on similar sanctions.
Orano is proactively addressing this issue by expanding its uranium enrichment facility in France, with production targeted by 2028. However, the project demands significant investment and assured demand to move forward effectively. Meanwhile, geopolitical tensions and supply chain issues continue to challenge uranium production globally, complicating the shift toward alternative nuclear fuel sources.
