EU Remains Strongly Dependent On Russian Nuclear Energy - Reports

Mohammad Ali (@ChaudhryMAli88) Published March 10, 2023 | 06:41 PM

The European energy sector remains strongly dependent on Russian nuclear corporation Rosatom, the New York Times reported on Friday

MOSCOW (UrduPoint News / Sputnik - 10th March, 2023) The European energy sector remains strongly dependent on Russian nuclear corporation Rosatom, the New York Times reported on Friday.

The article noted that it has been easier for the European Union to find a replacement for Russian oil and gas after the restrictions were imposed than to get rid of dependence on Russia's state nuclear corporation Rosatom. In this regard, according to the newspaper, Russia still plays a key role in energy supplies in Europe, and few people in the EU support the idea of imposing sanctions against Rosatom despite calls for it from Ukraine. In addition, dependence on Russian nuclear technologies is especially deeply rooted in the countries that have Russian-built nuclear power plants.

Abandoning ties with the Russian nuclear industry around the world would be a major blow to the whole sector, the NYT said. The nuclear supply chain is extremely complex, and establishing a new one will be expensive and will take years, the report added.

Russia's position on the global nuclear fuel market is exceptionally strong, according to the newspaper, since the country controls 38% of the global uranium conversion and its uranium enrichment capabilities amount to 46% of the world's volume.

In late February, the EU introduced its 10th sanctions package against Russia, however, it did not include any direct restrictions against Rosatom. Earlier in the month, Hungarian Foreign Minister Peter Szijjarto said that Budapest would not support any sanctions that would limit its nuclear cooperation with Russia, adding that Rosatom was one of the world's leading nuclear energy companies and sanctions against it could threaten global nuclear security. France and Bulgaria are also reportedly blocking the introduction of restrictive measures against the Russian nuclear giant.