EU's 20% Import Dependence... Largest Importer
Sanctions on Russian Uranium Also Becoming Difficult to Consider
The European Union (EU) is increasingly concerned about worsening power shortages as the uranium supply chain is threatened by the coup in Niger, West Africa. Following the war in Ukraine and sanctions on Russian gas and crude oil imports, the region is already experiencing severe energy shortages, and a prolonged uranium supply disruption could cause significant damage.
According to Politico, a U.S. political news outlet, on the 31st (local time), EU countries, led by France, are worried about uranium supply difficulties following the Niger coup. The EU imports more than 20% of its total uranium from Niger, and in 2021, Niger was the EU's largest uranium supplier, Politico reported.
The French government, concerned about spreading energy anxiety, emphasizes that there is no immediate supply concern. A French government official who requested anonymity told Politico, "France does not rely on a single country for imports to ensure the safety of power plant supplies," adding, "The situation in Niger will not pose a risk to uranium supply security."
Orano, the French state-owned nuclear power company, also stated in a spokesperson's statement sent to Politico, "The political instability in Niger will not have an immediate impact on France's uranium demand, and even if extraction is halted, existing stockpiles could last for about two years," explaining, "We are continuously monitoring the situation in Niger."
However, if the Niger crisis prolongs, securing uranium for the EU is expected to become significantly difficult. Since the EU is considering phased sanctions on Russian uranium as part of additional sanctions against Russia, a halt in uranium imports from Niger could immediately trigger supply shortages.
Since the outbreak of the Ukraine war last year, the EU has imposed sanctions on Russian gas and oil but has yet to sanction Russian uranium and nuclear power-related items. This is because a complete halt to uranium imports from Russia, the world's largest uranium refining country, could cause enormous losses. The United States is also hesitant to impose sanctions on Russian uranium at this time.
Phucbinh Nguyen, a researcher at the Jacques Delors Institute, a European think tank, told Politico in an interview, "If the situation in Niger worsens, it will make adopting sanctions on Russian uranium more complicated in the short term."
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