Europe's dependence on Russian uranium increased by 7% in 2025

The dependence of European nuclear energy on Russian nuclear fuel increased in 2025, despite attempts by the European Union to diversify supplies. The relevant information follows from the report "On the threshold of a new contract cycle" by the investment company Sprott.

According to analysts, Russian uranium supplies to European energy companies increased by 7% last year, conversion services by 9%, and enrichment services by 12%. As a result, Russia retained about 16% of the European uranium market, 24% of the conversion market, and 23% of the enrichment market.

Sprott noted that the refusal of Russian supplies will require European companies to find alternative volumes of raw materials and fuel processing capacities. This could increase competition for uranium from Western and Allied suppliers as existing contracts are finalized.

Kazakhstan remains one of the key suppliers in this situation, accounting for about 39% of global uranium production. In 2025, the country provided 20% of uranium supplies to European energy companies and 28% to American ones.

At the same time, Sprott warned that a significant part of Kazakhstan's production has already been secured by long-term contracts with China and Russia, and is also increasingly being directed to India. This may limit the volumes available to Europe and the United States in the future.

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Bloomberg reported on July 30 that Russia plays a key role in the US nuclear energy industry. Last year, reactor operators in the United States purchased about 3.28 million uranium separation units from the Russian Federation, accounting for almost 26% of the total purchases. In 2025, foreign sources provided 77% of enrichment services, and Russia became the largest single supplier.