SRUUF - White house weighs sanctions against Russia's nuclear industry uranium rises

Late Wednesday, a headline crossed the wire announcing, "US weighs sanctions on Russian nuclear power supplier Rosatom." Uranium investors took note, and industry heavyweight Cameco (NYSE:CCJ) spiked 6% into the close. Russia isn't a leader in uranium mining, the country accounts for ~5% of global volumes; however, Rosatom accounts for ~35% of global uranium enrichment.  According to Bloomberg sources, the Biden administration is consulting with the nuclear power industry about the potential impact. In addition to supplying US nuclear power plants, Rosatom works closely with Iran, on the country's nuclear fuels program. A fact which may add a degree of complexity to the Rosatom sanctions decision, as the White House attempts to close a deal permitting Iran to increase oil production.  In related news, overnight South Korea elected a new President. Yoon Suk-yeol has run on a platform calling for increased nuclear energy generation at home. Under President Moon, nuclear

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White house weighs sanctions against Russia's nuclear industry, uranium rises