Eve is here. Energy-hungry developed countries are moving away from Russia as a source of uranium. Interestingly, it is China, another archenemy of the West, who has stepped in to bridge this gap.
Hayley Zaremba is a writer and journalist living in Mexico City. It was first published in crude oil price
- Russia’s nuclear energy sector continues to generate significant revenues despite sanctions on fossil fuels.
- Western countries are increasingly relying on China for their nuclear energy supply chain, strengthening China’s economic and geopolitical power.
- This shift is part of a broader trend of China’s growing influence in the global energy landscape.
Western countries have had considerable success in imposing energy sanctions on Russia in response to the ongoing war in Ukraine, but blocking Russian nuclear exports has proven difficult. But now more Western countries are getting serious about excluding Russia from their nuclear energy supply chains, pushing more and more economic and geopolitical power into China’s hands.
It seemed impossible to wean Europe off of Russian oil and gas without destroying its economy and dangerously threatening Europe’s energy security, but the European Union has seen a surge in renewable energy production and very mild winter During a critical transition phase. However, the power of that effort is is damaged Due to continued global dependence on Russia’s nuclear energy supply chain.
Russia’s state-run nuclear energy company Rosatom has been one of the main exporters of nuclear fuel and uranium enrichment services around the world for many years. European countries, including Hungary, the Czech Republic, Slovakia, Finland and Bulgaria, have increased imports of Russian nuclear fuel to supplement Russian fossil fuels, meaning they still provide significant funding to the Kremlin. do.Belladonna think tank estimates that the value of nuclear fuel exports is $739 million This was the case in Moscow alone last year. Rostatom is also a major source of financing for the construction of new nuclear facilities at the world level. Currently, nearly one in five nuclear power plants on the planet is located in or made by Russia.
However, Russia’s influence in some nuclear markets appears to be waning as the ongoing war in Ukraine impairs its ability to pursue projects.Bulgaria petitioned the United States Rosatom’s Parks II nuclear power plant in Hungary has been delayed and over budget since its initial planning stages in 2014. , whose stumbling blocks have intensified in recent years due to Europe’s stance toward the Kremlin and the strengthening of security measures. complex russian Ability to complete projects.
As Russia continues to pivot to Pax II, Hungary appears to be relying on China to continue its nuclear development. Chinese President Xi Jinping will visit Budapest later this week, where he is expected to sign 16 agreements with the Hungarian government, including one on “cooperation covering the entire national portfolio”. nuclear energy.This appears to include Pax II, suggesting that Hungary is trying to separate Rosatom from the nuclear industry.
This is not the first time that nuclear energy has become “.”geopolitical flashpointbetween Russia and China. The two economic powers are also at odds over nuclear control of the emerging nation. Especially in sub-Saharan AfricaThe potential for growth in the nuclear industry is enormous, and funding is urgently needed to begin the development phase of planning and construction of prohibitively expensive nuclear power plants. But with Russia’s attention and resources tied up in the wartime chaos, China has a clear advantage.
The potential for nuclear energy power and profits to shift to China is part of a larger trend in the global energy landscape. The Chinese government is more focused on renewable energy, green infrastructure, and manufacturing than any other country in the world. It’s been many years now. The Chinese government has positioned itself at the nexus of the global clean energy supply chain, making it essential to the growth of the clean energy sector in developed countries in Europe and the United States. Expanding energy influence in emerging countries. Filling Russia’s place in the global nuclear energy industry is just another step in Beijing’s consolidation of power in the global energy market.
