Five of G7 unite to drive Russia out of nuke power market

April 17,2023 491
Five of G7 unite to drive Russia out of nuke power market

Canada, France, Japan, the United Kingdom and the United States have formed an alliance aimed at displacing Russia from the international nuclear energy market, according to a U.K. government press release.

The agreement was reached at the Nuclear Energy Forum at the G7 ministerial meeting in Sapporo, Japan, on Sunday and announced in a joint statement of the five, provided in full in the press release.

The five nations will leverage their respective civil nuclear power sectors’ resources and capabilities to undermine Russia’s grip on supply chains. They will use the agreement not only to support the stable supply of fuels but also as “the basis for pushing Putin out of the nuclear fuel market entirely, and doing so as quickly as possible, to cut off another means for him to fund his barbaric attack on Ukraine and fundamentally leave Russia out in the cold.”

The agreement will act as a springboard for these five countries to make swift progress, ensuring the secure supply of uranium fuel through the development of shared supply chains that isolate Russia.

“The U.K. has been at the very heart of global efforts to support Ukraine, defeat Putin and ensure neither him nor anyone like him can ever think they can hold the world to ransom over their energy again, U.K. Energy Security Secretary Grant Shapps said. “This is the next vital step, uniting with other countries to show Putin that Russia isn’t welcome anymore, and in shoring up our global energy security by using a reliable international supply of nuclear fuel from safe, secure sources.”