The countrys share of the uranium enrichment market amounts to some 40%, according to the state-run corporation

Russia remains the global leader in uranium enrichment for nuclear power plants, first deputy director general of state-nuclear champion Rosatom, Kirill Komarov, said on Monday, as cited by RIA Novosti.

Global demand for nuclear fuel has been on the rise as artificial intelligence and other energy-intensive technologies gain popularity. Demand for uranium is expected to grow 28% between 2023 and 2030, according to the World Nuclear Association.

"We still hold the top position in the world for uranium enrichment," Komarov said during an international business forum at Moscow's MGIMO University, stressing that West has not been very successful in its effort to undermine Russia's position.

The top executive noted that the US currently has the world's largest installed nuclear power capacity that amounts to almost 100 gigawatts, 25% of which runs on Russian enriched uranium.

Russia is the largest builder of nuclear power plants abroad, Komarov said, adding that Russian technologies are deployed at 22 out of 25 nuclear power units that are currently under construction.

"I think there are hardly any other sectors of the economy where we hold such a global share - between 85 and 90 percent," he added.

In May 2024, Washington ordered its utilities to shift away from Russian supplies by 2028. Later that year, Russia retaliated by temporarily limited exports of enriched uranium to the US.

Earlier this month, US Secretary of Energy Chris Wright stated that Washington is "furiously at work" in its effort to remake nuclear-fuel supply chains, adding that the US is "moving to a place - and we're not there yet - to no longer use Russian enriched uranium."

(RT.com)