URA - Senators move forward with bill to ban Russian uranium imports Cameco takes off

Four Senators introduced a bill Thursday to ban imports of Russian uranium. Recent sanctions have restricted oil, natural gas and coal imports, but left the world's leading producer of enriched uranium free to trade with US utilities. Russia's Rosatom accounts for ~35% of the world's enriched uranium supply, versus Rosneft (OTCPK:RNFTF) at ~2% of global oil supply. The Sprott Physical Uranium Trust (OTCPK:SRUUF) is up ~4% on the news. North American uranium producers (URA) are also trading higher, with Cameco (CCJ) +8%. A Russian import ban, if passed, would come just as Cameco (CCJ) calls for the start of bullish contracting cycle.

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Senators move forward with bill to ban Russian uranium imports, Cameco takes off