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Orano, a nuclear fuels manufacturer, does not expect any impacts from the EU-US agreement

According to Orano's CEO Nicolas Maes, the trade agreement between the European Union (EU) and the United States will not affect the company, because the U.S. government has not yet imposed any tariffs on its uranium fuels.

According to the agreement announced on Sunday, the EU has agreed to buy nuclear energy products as well as U.S. natural gas and oil liquefied for a total of $750 billion in the next three year.

Maes stated that "we have examined the material and have found that isotopes and uranium as well as enriched uranium have been exempted from the ban."

He said that the provision of the agreement for the export of nuclear fuel by the U.S. into Europe was surprising given that the U.S. imports the fuel for its nuclear power plant, not exports it.

Maes stated that "the U.S. nuclear market is structurally imported and not exported."

Orano also stated that the plans of the company to expand its nuclear enrichment facility in Oak Ridge Tennessee should not be affected either by the trade agreement or the executive order signed by U.S. president Donald Trump deregulating the nuclear industry. Trump signed an Executive Order in May to reduce regulation and speed up new licenses for nuclear power plants, reactors and reactors. He also wanted to reinvigorate the uranium enrichment and production industry.

Maes stated that Orano would maintain its nuclear security standards, but the order could result in easier communication between the nuclear safety authority (the nuclear safety authority) and the utilities during their permitting process.

He reiterated an earlier comment, stating that the final investment decision for the project will be made in 2027. Reporting by Forrest Créllin. (Editing by Dominique Patton, Barbara Lewis and Barbara Lewis.)

(source: Reuters)