Agreement calls for ‘resilient supply chains’
The UK and Sweden will explore opportunities to drive the move away from Russian nuclear fuel supply while also supporting other countries to reduce their dependency on Moscow.
Both countries said they had agreed to support “resilient nuclear fuel supply chains for the benefit of our respective fleets”, including existing reactors and new build projects.
Both countries are planning new commercial nuclear reactors as they look for ways to boost electricity production and improve energy security. The UK has already announced an ambitious programme of new nuclear and Sweden’s centre-right coalition government has said it is preparing legislation to allow the construction of more nuclear plants.
The commitment on nuclear fuel was part of a “strategic partnership” agreement signed by the UK and Sweden.
A recent UK report said Russia’s nuclear exports have surged since the invasion of Ukraine, boosting the Kremlin’s revenue and cementing its influence over a new generation of global buyers, as the US and its allies shy away from sanctioning the industry.
Trade data compiled by the UK’s Royal United Services Institute (Rusi), a defence and security think-tank, shows that Russian nuclear fuel and technology sales abroad rose more than 20% in 2022.
Rusi said Russia has exported just over $1bn-worth of nuclear energy-related goods and materials, including nuclear fuel, since the start of the war in Ukraine.
In April, the UK, US, Canada, Japan and France formed an alliance to develop shared supply chains for nuclear fuel as part of ambitions to push Russia out of the international nuclear energy market.
The UK-Sweden agreement says the two countries will collaborate on civil nuclear and renewable energy technology and other research areas contributing to the transition to a green economy
According to the agreement, both governments acknowledge the importance of existing and new nuclear energy plants and the potential for new and emerging nuclear energy technologies, including small modular reactors.
The two countries said they will establish a dialogue on civil nuclear cooperation, including advanced nuclear technologies.
Both sides said they recognise the importance of cooperation between nuclear regulators in enabling the deployment of SMRs. The agreement says they will support the sharing of information and best practices.
