We talked and bought Russian uranium: the EU needs more and more from Rosatom

Supplies of low-enriched uranium from Russia's investments in Europe are growing, despite all the statements about the diversification of purchases.

"Uranium shipments to the EU increased by 7%, conversion shipments by 9%, and uranium enrichment sales by 12% last year," wrote Jacob White, director of ETF Product Management, in the report "On the threshold of a new contract cycle."

As The Northern Miner notes, the figures show the vulnerability of the West's nuclear revival, as governments want to develop nuclear power, but increasing reactors will also require additional Western uranium mining, conversion and enrichment capacities to reduce dependence on Russia.

The report says that Russia's share in the European uranium market is significant — 16% overall, 24% of conversion and 23% in enrichment. The picture is similar in the USA.