Centrus says Russia canceled TENEX’s licence to export low-enriched uranium to US

Nuclear fuel supplier Centrus Energy said on Monday it has received a notice from Russia’s TENEX that its government passed an order, which canceled its licence to export low-enriched uranium to the US, 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 US banned Russian uranium imports.

TENEX is required to obtain a specific export licence 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 licences, 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 licences, it would affect Centrus’ ability to meet delivery obligations to customers, it said.

(By Tanay Dhumal; Editing by Shilpi Majumdar)