US Seeks $4.3-Billion Funding To Accelerate Uranium Production


The administration of Joe Biden, president of the United States is pushing the lawmakers of the country for supporting a 4.3 billion dollars plan for purchasing uranium directly from the domestic producers to wean the United States off the imports of Russia and the shares of the uranium companies are also increased.

The officials of Energy Department of the United States have now met with the main congressional staff, where they said that, such type of funding has been needed urgently and the energy officials has also made the case that, any kind of interruption in the supply of the enriched uranium of Russia can possibly cause operational disruptions at the commercial nuclear reactors.

The nuclear energy industry participants of the United States have also been briefed on the proposal and this plan also required the approval from the Congress. The proposal has been aiming for spurring the development of more domestic enrichment and several other steps that are needed for turning uranium into the reactor fuel. It is also going to be creating a government buyer, which will be directly purchasing the enriched uranium that is also including the type used in a new type of breed of the advanced reactors that are now under development.

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The talks has come as the administration of Joe Biden contemplates the sanctions on the enriched uranium imports from Russia in response to the invasion of Ukraine by Russia along with considering the prospects that, Russia can also decide for stopping the imports.