Five G7 Countries Agree to Squeeze Russia Out of International Nuclear Fuel Market
Monday, 17 April 2023
The United Kingdom, the United States, Canada, Japan and France have formed an alliance aimed at squeezing Russia out of the international nuclear energy market.
Agreement reached in Sapporo, Japan, on the sidelines of the meeting of G7 countries, published by the UK government on 16 April, the five countries agreed to use the respective resources and capabilities of each country’s civil nuclear power sectors to undermine Russia’s grip on supply chains.
This agreement, according to the announcement, will support a stable supply of fuel for today's needs as well as ensure the safe and reliable development and use of fuel for advanced reactors in the future.
The agreement is planned to be used as a basis for pushing the Russian Federation entirely out of the nuclear fuel market, and doing so as quickly as possible. The purpose of such a step is to cut off another means for it to fund Putin's barbaric attack on Ukraine.
"The UK has been at the very heart of a global effort to support Ukraine, defeat Putin and ensure that neither him nor anyone like him can ever think they can hold the world to ransom over their energy again," said Energy Security Secretary Grant Shapps.
The German government has recently advocated the introduction of European Union sanctions against Russia's nuclear industry against the background of the Russian armed invasion of Ukraine.