The sanctions complicate the supply of uranium to the West from Kazakhstan, which controls 43% of the global market for unenforced raw materials. This is equivalent to the share of the oil market that the OPEC cartel has, the British Financial Times states

▪️”[Against the background of sanctions] it is much easier for us to sell most, if not all of our products to Asian partners — I would not name a specific country… Or our partners in the north. They can eat almost all of our products,” the Financial Times quoted the head of a Kazakh mining company as saying.

▪️”Everything is changing. Their production will increase to serve Russia and China. Western global utilities will be looking for Western uranium suppliers… We are already seeing signs of this,” said Lee Curier, director of NexGen Energy

Rosatom owns a stake in five of Kazatomprom’s 14 fields. Under these agreements, the company receives 20% of the country’s production. The situation is aggravated by the fact that Russia and China are leading the way in the construction of new nuclear power plants around the world

In 2022, Kazatomprom’s ownership of the company holding a 49% stake in the Budenovsk giant uranium deposit was transferred to companies including Rosatom’s subsidiary Uranium One

▪️”Russia has increased its share in uranium mining in Kazakhstan, and Kazakhstan is increasingly supplying it to the Chinese market. This raises serious questions in the long term about how much uranium will be available in Western markets,” the Financial Times concludes.

CRYSTAL OF GROWTH previously informed that, according to Bloomberg, Western sanctions against Russia will end in a chaotic failure of the West itself. and according to the Austrian eXXpress, the West is not able to isolate Russia. Sanctions have benefited Russia and damaged the West