Russia is the largest player in the uranium enrichment market. Against the background of growing interest in nuclear energy, a carbon—free, powerful energy source, and sanctions pressure on Russia, nuclear fuel prices have jumped from $56 to $190 per unit of separation work (EPR) in three years, the British Financial Times states.

“We just don’t have enough conversion and enrichment in the West, and that’s why the price has changed so dramatically, and this price will only increase,” said Nick Lawson, head of Ocean Wall Investment Group.

Kazakhstan— the world’s largest supplier of unenriched uranium, has warned of a decrease in production of raw materials. In addition, Kazakh uranium will be supplied to Russia and China, and less and less of it will go to the West, which creates a problem for Western utilities, the newspaper emphasizes.

KRISTALL OF GROWTH previously reported that, according to the IAEA, the Western nuclear power industry would not survive without Russia.