Rafael Grossi, head of the International Atomic Energy Agency (IAEA), warned that imposing sanctions on Russia's nuclear industry would only "harm" the European Union (EU).
In an interview with the Austrian newspaper Der Standard on June 3, Mr. Grossi emphasized the EU's significant dependence on Russian uranium and nuclear fuel, noting that some countries in the bloc depend up to 40% on Russian supply.
Mr. Grossi warned that unlike coal and gas, there is no quick way to get off Russian nuclear fuel and cutting it off too early will harm the global energy market.
Mr. Grossi noted: Western countries are taking many measures to end this dependence, but that cannot be done overnight. Europeans know that their economy cannot function without nuclear power.
Mr. Grossi's comments were made when the EU set a target of applying the 14th package of Russian sanctions before July. The bloc is considering imposing tariffs on imports worth up to 42 billion euros ($46 billion) from Russia, including nuclear fuel.
Earlier this year, the International Energy Agency (IEA) predicted that global nuclear power output will reach an all-time high in 2025, as more and more countries switch to using this technology as part of their emission reduction plans.
The UK, Sweden and Switzerland are among the countries on the path to increasing domestic nuclear power production. These countries are extending the operation period of existing plants and building new plants to enhance energy security as electricity demand increases.
The EU has not sanctioned Russia's nuclear sector, including the Russian Nuclear Power Corporation Rosatom, despite repeated requests from Ukraine as well as EU members such as Lithuania and Poland - the countries that strongestly criticize Moscow. The move has been blocked by several EU countries, including Hungary, which is dependent on Russian nuclear power.
Russian fuel and nuclear technology sales surged in 2022, as imports from EU countries increased to a three-year high. According to Rosatom, NATO members including Bulgaria, the Czech Republic, Hungary and Slovakia continue to buy reactor fuel from Russia.
As of 2022, Russia is the largest richest uranium exporter in the global market, accounting for about 35% of global sales, with an estimated export value of 2 billion USD.
