points of rustling when you can feel in the last couple of years and in some cases employ it's doubled. not that doesn't make sense, considering that the west is trying to cut through the dependence and make sure russell doesn't get any of their money. well, according to experts, that's because they're starting up for a rainy day or decades. many western companies dependents, supplies of enriched uranium or fuel from russia. so imposing sanctions against the state corporation ross at them is seen as unrealistic and impractical. it's really critical that we get off of our dependents, especially from russia without action. russia will continue to hold on to this market. this is really important for national security, for climate, for energy independence. we estimate that them more than $1000000000.00 in annual us dollar purchases of nuclear fuel flowing from russ item that we watch on south. but i pads for now, and just like you are there also stuck and up on resources and making rosa richard . now take a look at this graph right here. now,

while washington discusses banning the import of enriched uranium from russia, it's buying that up like of never before. at the end of 2023 imports of enriched uranium from russia to the united states increase to a record level of $1200000000.00. and that's a 40 percent increase from the year before. russia has enjoyed an enormous global nuclear market share over the past 2 decades in part due to low price fixing. western countries have also planned poorly or have not prioritized, maintaining their robust nuclear energy supply lines. for example, the united states allowed domestic uranium mining conversion and enrichment sectors to deteriorate or closed down entirely, requiring washington to support new initiatives to restore those sectors. european countries depend on moscow for reactor fuel and uranium products. washington must hasten the elimination of this critical kremlin revenue stream. well, they'll try, but it takes time. it's not an easy ord seats, revival reactors,

and build new ones. plus with some of them, you can just change the fuel source. so it's tricky. last year, as in decades before russia was the united states, number one supply of enriched uranium supplies, sending homeless the closer to the nuclear fuel used in the americas commercial react to fleet, department of energy data. nearly a dozen countries around will depend on russia to move in the off their enrich uranium. many of them, likewise ukraine. i like members of nature process not only a leading experts in this field, but it is also the only commercially available source of a special highly in which we act or few known as hailey. and that's what is needed for a new breed of advice. as nuclear reactors that are currently in developments to us reliance on russian enrich fuel. so these, the countries current and future nuclear plants vulnerable to the russian shut down of enriched uranium sales. which analysts say, is it conceivable strategy for president vladimir pushing, golfing wheels,

energy as a geopolitical tool? well, likewise analyst here, that is, you're a pool also failed to cot size with russia. that was so proud when the check government decided to exclude roles fights and permits new projects, often for america's western houses that the seal even boasted that they were the 1st to do so well. a western alternative would approve and the fuel design for this type of units. and just a year later, they were cut off for failing to fulfill the required under conditions. russia was ready to participate in these projects. there was great enthusiasm in the check industry in this regard. local nuclear workers expected to participate in the construction of nuclear power plants together with rosa thom in 3rd countries. if new construction under russian projects was realized. however, in 2021, the check government excluded china and russia from any further check nuclear

projects for political reasons. the remaining bitters from france, the united states, and south korea. after the departure of such strong competitors, came up with bids that were less attractive to the customer. westinghouse, as bid, for example, was deemed not to comply with the tender conditions. and at the end of january, this year, the us company was excluded from the tender. in fact, during these 14 years, it was possible to build a nuclear power plant. but the construction process has not yet started. and not even the design for the plant has not been chosen. and then there's forever switch has reached a significant low and it's relationship with boss when it comes to ukraine. but not when it comes to nuclear matters. the country gets about 70 percent of its electricity from nuclear energy and power as has been important from las go for about 50 years now, and they're not about to stop. they might want to. but instead the run state run from it. so is working with lots as well, sites them,

so assemble fuel in germany and that is for reactors that still use russian technology. like i said, it's not that easy to just switch. and these reactors generate electricity for 100000000 eastern europeans in countries like bulgaria, the czech republic, hungry and slovakia, the gun but shows that the criminals, hefty nuclear markets continues unabated 2 years after the invasion of ukraine with new data revealing reco trade in 2023, even as russian president vladimir putin, in french presidents and manual macro and trade military threats, engineers from both countries, jointly pulled the future of their topic industries. and there it is, the bigger picture record russian nuclear trade. over the last few years, countries have been importing record numbers of low and rich to radium from russia . so while you're up in the us are seemingly stopping up on loss a new pair, few and working on alternatives restaurants. um is that a really busy passing in? it's also making new connections and we're talking about projects in countries like

bangladesh, china, egypt, in the turkey, vietnam hungry n bellows and. a additional projects in countries like thailand and an easy, a commode, the end, the philippines were all sorts of revenues from foreign order surpass $16000000000.00. it's one fits 123, and that number is expected to grow exponentially. roeser told me, is one of the rare examples of the russian company having elaborated some types of technologies ahead of the west. additionally, the company expands its ability to perform another strategic g o economic task. so the russian state, the nuclear energy joins, is also the producer of liquid natural gas equipment. and one of the key perspective developers of lithium mines at home and abroad making it an important player in the global critical minerals, rice, global nuclear power, as making a come back as more nations to seek a low carbon economy. nuclear power generation is set to reach an all time height and next year. so of course, the race is on,

but so for the west is lagging behind with investment issues, cost overruns, and delays washington's drive to rebuild its fuel. supply chain reflects concerns that russia and china a gaining of technological lead. just as the global nuclear sector is booming, with 60 react is under construction. under the 100 planned. russian and chinese rivals have successfully designed and built small modular reactors. while u. s. companies have so far failed to deliver on plans. the industry experts warn the type of long term relationships. rosa tom builds with foreign governments when constructing reactors hands. moscow, a potent soft power tool. it's little bit soft to compete with well thoughts, almost decades long. reputation as a reliable source of both cheap and unique nuclear technologies, spots. that's a challenge that the west is eager to take on, even if, as always, it's all at its own expense. so we're gonna try to sit down in the top is real

south of them. so see, oh, i like see how trophy shed more about russia's nuclear, a secretary of the nuclear energy sector, but also about is increasing number of projects ongoing. well, why exceed inch of switch? you mentioned, the international forum, adam, ex mo 2024 is about to kick off. and so she's in your view is rushed as nuclear technology sector threatened by anti russian sanctions. and is it a risk of becoming isolated? is that gets it like she's good at the moment you followed you? yes, there are 2 ways in which i can answer this question. the 1st is more of an objective approach. as it deals with numbers this year, we're going to set new records in terms of the number of countries participating in adam expo 2024, which is about 80. and in terms of new commerce countries, about 10 of them that will be attending out of mexico for the 1st time. in fact, for many of them, it's their very 1st nuclear conference. we're hosting

a record number of ministers, a record number of for, and companies, all of the numbers were tracking our record high. now my 2nd answer has more to do with the substance. in the weeks before out of mexico 2024 and the course of our conversations at the form we expanded our reach, not only in terms of nuclear technology, where ross adam is the undisputed leader on the global market. but also in terms of a whole range of related ideas, both energy and non energy sectors, like nuclear medicine, for example. in other words, the ada maxwell platform is growing and both quantity and quality naturally distinctions in place against russia don't make our lives any easier. they primarily affect the financial side of our work, like dealing with banks. however, in no way to the deter, from us working with our partners in friendly markets. in fact, even on friendly countries prefer to keep doing business with us in one way or another. at the very least,

they continue to use our services and it best cases. we step up cooperation in a situation is complicated, is that how does russ adam manage to generate so much interest and publicity? i know you so much. again, i've got a straightforward answer for you and age. this truth, if you will, what do we have to do? and whatever happens happens, we're not changing our policy to accommodate the sanctions. and we aren't trying to avoid any sensitive issues. instead, we focus on realizing the full scope of our obligations to our clients worldwide. i could go a little deeper into the details of the subject and explain what are advantages. we employ a cutting edge approach to managing our international projects, which is we offer a holistic, comprehensive solution. we build the nuclear power plant. yes. but we do more than that. we train the staff for the plant, but we do more than that. we involve local businesses, local companies,

but we do more than that. we train them, we make these companies, world class providers of nuclear technologies. and then we invite them to other countries to build new plants and so on. in nuclear technology, what we offer above all is partnership, not business projects, but collaboration between countries, between governments, between nations, between peoples, and we'd eagerly share our knowledge and our skills. and we're not worried that at some stage these countries will surpass us or become more competition. because at the same time as we help them, we keep developing a new generation of new to their tech. we've got a formidable r and d unit at ross adams, and we've got researchers working at the career chart of institute. in fact, you might find it counter intuitive, but we're even engaging in our partners in this cutting edge research in creating the future of nuclear technology. and that is why even on friendly countries are in no hurry to give up working with us. let me stress that again,

as long as it is physically, theoretically possible, we will continue to fulfill our obligations to any party, regardless of the ongoing attempts to impose your restrictions on russia and our nuclear industry. know what's low. you mean yesterday, probably with all the efforts to isolate russia, when you look at the sheer number of participants coming to adam expo that says at all, which means that your strategy is actually paying off. still, there are some clients who say that they intend to discontinue using russ adams services. for example, the us department of energy announced that it is looking for new suppliers of high as a low enriched uranium for their new generation nuclear reactors. in december of 2023, the us also banned in ports of low enriched uranium from russia. and he's got a rather they created the conditions for a band the, the cause of us. but technically yes, well, but what is your position on all these restrictions?

what is the us expect to gain from it? follow chip is a, it looks like a, the sup. i wish little said that you should ask them when you get the chance, how they plan to accomplish all that and what their ultimate goal is. because so far, the political signaling we've been getting from washington is to put it mildly at odds with what american companies are actually doing. let's go over what you said. one thing at a time, 1st, the so called hello. hi, i say low enriched uranium. that is the raw materials for next generation reactors . i'll try to explain what that is. in layman's terms, we're talking about medium enrich uranium, fuel 5 to 25 percent enrichment used in small reactors or s m r's. this is what us lawmakers mean when they say next generation reactors. so far, we're not aware of any actual projects that use american s. m. r technologies. we're not aware that any exist. we haven't seen any on the planet,

not in the united states, and not in any other country. ross adam does however, have such reactors in operation and under construction when he to the academic law, most of the power barge. and the case shows gold mine nuclear reactor, where we've already started initial work on site and have a license for construction. in that sense, we can fully satisfy our own needs in terms of medium enriched uranium and also cover the needs of the countries we're negotiating with the form. in fact, we are already signing contracts with them for the construction of small capacity reactors. we plan to supply them with a medium enriched uranium fuel to this sunday, the united states implemented s m r project. and at the stage of operation, they will have to buy this fuel, which they call. how do they are going to run into one problem? yes, in theory there are 2 companies, centrist and ranko that have the capacity to produce this kind of fuel. but they

still have a major investment phase to go through. and since the investment phase will be in corporate, into the cost of the 1st several tons of this uranium tool, the price is going to be quite high. and for smaller plants, this is absolutely vital because you see many people believe incorrectly. the small plant is 10 times cheaper and 10 times faster to build. but in reality, it's very expensive. and the electricity produced by a smaller plan will always be slightly more expensive compared to a more powerful plan. which means that the raw materials component, the uranium fuel component, plays a much greater role. any way we don't know what the us lawmakers are going to decide with them, but we do know one thing. should there be any restrictions on supplies to the american market? america's some, our plants will be far less competitive compared to russia's ross out them. me and you completed was hoping to get one of these beautiful beautiful that i still retain for them. now returning to the topic,

you mentioned restrictions on the supply of enriched uranium products. you see, considering both prices and primarily volumes, there has been a certain growth of supply around 2020 percent over the past few years to the markets of unfriendly countries if it exists. and we continue to fulfill all our commitments. but the supply growth rates to the unfriendly countries markets are 3 times higher, 70 to 80 percent. and it's not difficult to calculate that, and the remaining time until 2030, we will completely replace them. and starting from 2032 will achieve additional profitability of our raw material supplies to the markets of the friendly nations devoted to the quote most, most of the city with west pelican, the early because it was mixed up. and it's really easy to prove this, not only with graphs and figures, but also in a completely practical level. we've seen 4 units being started up in the u, a. e, a very russian friendly country. we've seen 36 reactors launched in china over the

past decades and new capacities built in india and the enthusiasm with which dirty egypt, bangladesh and many other of our partners are embracing nuclear technologies. there's a growth point there. you see there's a growth point in nuclear technology. there's a growth point in the supply of our entire fuel cycle. we're 2nd in uranium reserves, both russian ross at them because we have all of russians need to their technology at ross add them. so we're 2nd reserves, 3rd in the extraction, 3rd in nuclear fuel fabrication. and 1st in uranium enrichment, we're an undisputed leader here with 35 percent of the uranium or enrichment market . so using a sports analogy, if you take a look at teams standings, you'll see that we are the absolute leader not only in the export of nuclear power plants, but also in the nuclear fuel cycle. and since all of this runs within our circuit, we're the leader there. it's obvious that our costs and quality are optimal. so

we'll just have to wait and see how various countries are going to transition from political declarations to practical solutions. because restricting ross out them today, primarily deals a serious blow to the cost of their own nuclear projects. however, it won't deter us in the least as the markets of russian friendly countries are comfortable for us and they are expanding and then i'll go for the rest of your move up closer. i was most of them. i had a question about your possible response to actions taken by in friendly countries, but given the growth and expansion you've talked about, i have another question. is there a need for a response to an friendly countries as actions or set them up themselves? so what is it? look ross, adam is a state corporation. we help to implement the policies of the russian government, which are broadly defined by the president of the russian federation. president pollutant has said that russia will never use economic leverage to blackmail other

countries. we're a sovereign country when it comes to fulfilling our obligations. this is when it comes to serving russian interest. if our government makes certain decisions, we is a state corporation will obviously comply with them. however, at this moment, we find that extremely important to demonstrate that we are honoring our obligations even in spite of certain decisions made later. here the nuances i'm talking about the nuclear industry is remarkably unique. first off, our projects are very long term. last year, for instance, we marks the 50th anniversary of our cooperation with france, but look how much has happened over those 50 years. the soviet union was locked in the cold war with the west, then it collapse. we had a period of turbulence in the 19 ninety's. there's the present day, russian agenda, and yet throughout those 50 years, we've been meticulously scrupulously fulfilling our obligations to the french

republic in french businesses. the same applies to other countries, the average construction time for a big nuclear power plant is 10 years and then operates for an average of a 100 years. that's why we thinking different timeframes and encourage our partners to do the same. perhaps more importantly, this is the most sensitive area of international relations. the nuclear industry is important for the safety and security, not only of nuclear facilities, but of a country is a whole, including the issue of non proliferation. it's very dangerous to hold hostage to transient political interest, a political leads which may be wiped off by the course of history tomorrow. never to be remembered again, you know, while these long term ties and principles of safety and security which had been established over several generations, may be eroded. that's why it's important for us to both feel our current legal obligations. and especially to reaffirm the principle that ross adam guarantees a 100 percent safety and security in all the areas where it operates is up. let's

look here. got thought of when we finish and do what you've done that you that i did it that the director general of the i a has recently said he would warrant against this point of good nuclear energy against bad nuclear energy because it would not be profitable to the market, it's not in the interest of market participants. my question is, do these attempts to differentiate between good and bad nuclear energy affect your expansion? and i'd also like to know if the market agrees with gross hello swap, it was a commercial prosecutor and was simply notified and literally so that's a great question. you seem to be quoting raphael grocery statements at the nuclear energy summit in europe. let's not forget the raphael visited russia just before the summit or held substantial talks covering current issues, including this approach at m p. p and the future development of our cooperation, including the 4th generation of nuclear energy,

across hill gross. he also met with a lot of more prudent, where they discuss those areas, the idea of voice by groceries, which had to do not just with the fuel cycle, but with a nuclear industry as a whole. which was very clearly outlined to my opinion, was that there shouldn't be any political ping pong as he put any division into good and bad energy, nor any attempts to put one country's nuclear industry against another one. that's exactly the view we a spouse. there's no good or bad in or she, there's a safe and professional way of doing nuclear energy, which should be promoted throughout the world. and there are certain approaches to nuclear energy which can lead us to an impasse due to political fetishes. outdated mattress about who's good and who's bad and so on. we don't even want to go there. all our supplies are safe. all our facilities are fully transparent, which is one of our advantages. when we launch the construction of an n p, p, or start supplies to a foreign country, we engage with the leads of the country such as journalists and peas,

technical experts, and bring them to our existing n p, piece to our cities and enterprises to show them how it all works in russia, mitchell, that's the nuclear power industry. we'd like to foster the irony of your question in the current situation as a whole is perhaps as follows. on the one hand, gross is a very brave man for saying these things in brussels, in the heart of the you and the other. it's really so trivial and self evident. how can you let the political ambitions of this, or that click decide the security of a whole continent and the future of nuclear energy for the whole planet? you can't, that would be a huge mistake. on the one hand, we're seeing in groceries praises for saying that out loud and brussels on the other. we understand that it's plain common sense. it's common sense to treat the development and safety of global nuclear energy as a separate area, untarnished by political intrigue. i believe the i a e is general director,

has set this agenda for many years to come within the group. i just didn't get the on the so let's just look, let's start doing. i'm so sure. the current spot price and the natural uranium market stands at around a $100.00 usb. a pound seemed to give our viewers some background. it was a quarter of that $25.00 usd a pound and 2022. we do expect this upward trend in prices to continue and to what extent does it affect energy prices for consumers that still it may increase the 20s with more with me 15 and the last bullshit was we, i don't know if you meant to do that, but your last question circles back to your 1st. let's start with good news. first, you're talking about spot prices, which applies to contracts that are being concluded, that the present moment is woods. we, however, rely on long term contract prices, which currently stand at around $70.00 to $75.00 per pound, and are not fluctuating to disastrously or is true that spot price is 1st look the

$100.00 threshold and then exceeded it before coming back to route. $85.00 to $88.00 per pound. why? because washington hinted at some possible limitations in the future. some people heard about coming to restrictions and started buying and stock piling at a loss to them to their economies and their technological cycles keep demand drives up. prices. people forked out, huge sums. we made money as we one should think. before same things. once you think 1st then act and you know, such things do not destroy supply chains which have been established over many years and mess up optimized cost calculations, etc. and they also create panic in the market. people are scrambling summer losing summer raking and profit suppliers always make money. so it was a situation where an attempt to say bad things about us ultimately lead to a frenzy. and since we always stay calm, we were able to make a little more money to us, the market loss as a whole. let's be honest about that. many of our partners lost money because

someone in washington was itching to announce future restrictions against russia. and that's how it always will be. we rely on mid term contracts, which are spread over time. and we encourage the international can is easy to do long term planning in a calm fashion and to minimize the influence of political signals and slogans on the implementation of carefully considered projects. in the nuclear industry, the piece was total exec getting especially run by sure. thank you so much the best of luck to you and recite them, but also optimal explained to thank you. the

the,

the water is part of the, the employee would posted isn't the deepest you of us in building the word part. is it something deeper, more complex might be present? let's stop without glitches. let's go out of the watching is why is that?

why in this control if i give but plenty of the store in this, they should have been a short order for now. i'm not going to say lots of green scale. you know, when i am what i could catch at your desktop session? i am no. let's just sean your just a bunch of mine is when you sit on the set up on me and the the, there's no end in sight over how you're going to continue to destroy the earth. is the case of the med, most of the people i tried to go to the gym, but i'm certainly not ready to fight russia. this is also of soon, this is the 3rd world lunacy re washington. as for so the funder line likes to say, we have the tools while we just start with stability and business deal. so let me let me on. you have very quick propaganda. you know, price here in new york. i think we don't know the aftermath any time that you're

not allowed to ask questions, you should ask all of the questions. some more questions, ask a better. the answer is, will be the headlines. what i'll do international as to all the full suspects and fridays, because of old mastercard must go plead guilty to tara, the charges full of demand will be held in custody while the investigation contain the more footage all the tragedy emerging in months ago. but it made some of the darkest hours tales of true heroism emerge from the tunnel, decided to do a hundreds of people. i started shouting all over the city hall that there was shooting. and i was ordering people to run to the ex post center california. when the shots started, i realize that we had to run away and get people out. i tried to stay calm and help

everyone.