UK loan for Ukrainian nuclear sector

29 August 2023

The UK has announced a £192 million loan guarantee to allow Ukraine to buy enriched uranium from Urenco, which is headquartered in the UK and 33.3 % owned by the UK government.

Reacting to the news, Nuclear Industry Association chief executive Tom Greatrex commented: “Nuclear power is vital to Ukraine’s sovereignty, economy and war effort. This loan guarantee means more energy security for Ukraine, more jobs and investment here in the UK, and less money for the Kremlin war machine. It shows how British nuclear exports can cut Russia’s energy leverage over our allies and bolster the strategic independence of the West as a whole.

“Our goal must be for all Western nuclear reactors to run on all-Western fuel services, and we will continue to support the UK government as it works with our allies to see that done.”

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