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Centrus says Russia canceled TENEX's license to export low-enriched uranium to US
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Centrus says Russia canceled TENEX's license to export low-enriched uranium to US
Nov 19, 2024 9:28 PM

Nov 18 (Reuters) - Nuclear fuel supplier Centrus Energy ( LEU )

said on Monday it has received a notice from Russia's

TENEX that its government passed an order, which canceled its

license to export low-enriched uranium to the U.S., effective

through Dec. 31, 2025.

Shares of Centrus were down 4.3% at $73.14 in trading after

the bell.

Russia, the world's largest supplier of enriched uranium,

said last week it had imposed temporary restrictions on the

fuel's export to the United States, a symbolic tit-for-tat move

after the U.S. banned Russian uranium imports.

TENEX is required to obtain a specific export license from

the Russian authorities to make each of the remaining 2024

shipments of low-enriched uranium to Centrus and for shipments

in 2025.

Centrus said TENEX is seeking the necessary export licenses,

in a timely manner. But there is no certainty whether they will

be issued by the Russian authorities and if issued, whether they

will be in a timely manner, it said.

If TENEX is unable to secure export licenses, it would

affect Centrus' ability to meet delivery obligations to

customers, it said.

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