Russia cancels the export license for low-enriched uranium to the USA, causing a drop in Centrus company's stock price.
According to Securities Times, Centrus Energy (LEU.US) disclosed on Tuesday before the market opened that the company received a notification from the Russian state-owned nuclear fuel supply company Techsnabexport (TENEX), stating that the Russian government has approved an order to cancel the export license for low-enriched uranium to the USA by the end of 2025.
Centrus stated that TENEX is seeking the necessary export permits but is unsure whether or when Russian authorities will issue them. The company mentioned that if TENEX cannot obtain the export permits, it will affect Centrus' ability to fulfill its delivery obligations to customers.
Russia, the world's largest supplier of enriched uranium, said last week that after the USA banned the import of uranium from Russia, Russia temporarily restricted the export of enriched uranium to the USA. TENEX needs to obtain specific export permits from the Russian authorities to complete the remaining goods for 2024 and all low-enriched uranium goods for 2025.