SIRIUS /FEDERAL TERRITORY/, March 26. /TASS/. Rosatom profited from a jump in uranium prices when prices exceeded $100 per pound after Washington’s statements about possible supply restrictions, the company’s CEO Alexey Likhachev said in an interview with RT at the Atomexpo 2024 forum.
"At the moment, prices first approached $100, then exceeded it, and now they have returned to $85-88 for spot contracts. What was the reason? Washington announced some upcoming restrictions. That is, people heard that some restrictions might be introduced and started buying on the spot, creating reserves to the detriment of themselves, their economy and their technological cycle. Demand creates supply, prices jumped - people paid and we made money," he said.
According to him, such statements play a role in destroying supply chains and calculations created over the years, while the suppliers always make money.
"But the market generally lost. We must admit that the market and many of our partners lost only because someone in Washington wanted to announce the future restrictions against Russia as soon as possible. And this will never change. That is why we live in medium-term parameters, under long-term contracts, and, of course, we call on the entire world community for long-term and calm planning, implementation of well-considered projects, and minimal influence of political signals and slogans on the practical side of nuclear energy," Likhachev added.