(Dan Tri) – The US, UK and three G7 members agreed to form an alliance to implement measures to eliminate Russia from the international nuclear energy market.

A nuclear reactor (Illustration photo: FT).

The British government announced that five G7 countries including the US, UK, Canada, Japan, and France have agreed to form an alliance to exclude Russia from the international nuclear energy market, with the hope of cutting off Moscow’s budget for

In Sapporo, Japan, on the sidelines of the G7 meeting, the five countries agreed to mobilize the respective resources and capabilities of each country’s civil nuclear power sectors to weaken Russia’s control over the

According to the announcement, the agreement will help provide stable fuel supply for current needs, as well as ensure the development and use of safe and reliable fuel for future advanced reactors.

Over the past several months, Ukraine has repeatedly called on the West to impose sanctions on Russia’s nuclear energy industry, but so far no sanctions have been put in place.

According to experts, Russia’s position in the market for raw materials for nuclear power could create a big challenge for Western countries if they want to completely eliminate Moscow from the supply chain.

In 2021, Russia’s state-owned nuclear energy corporation Rosatom said it controlled a 36% share of the world’s enriched uranium market.

Converting mined uranium from raw mines into enriched uranium for nuclear reactors usually takes 3-5 years and replacing the supply is not easy.

The US imported 16% of uranium-related products from Russia in 2020. Although the US has banned the import of all items related to Russian fossil energy, Washington has not been able to ban uranium from Moscow.

Meanwhile, the European Union (EU) imported 20% of the bloc’s enriched uranium needs from Russia in 2020. The price of uranium supplied by Rosatom is relatively low, making it very competitive.

Since last year, experts have called on Western countries to immediately consider the extent of Russia’s nuclear exports and take steps to reduce it or they could have to