President Joe Biden has signed into law a Bill that prohibits the import of enriched uranium into the United States from Russia.
H.R. 1042, the Prohibiting Russian Uranium Imports Act, was unanimously passed by the Senate late last month.
The U.S. is buying an estimated $1 billion worth of nuclear fuel from Russia annually for its civilian nuclear power requirements. The new law ultimately eliminates U.S. reliance on Russia for this purpose, and cuts off a key Russian source of revenue.
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Business News
June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.