as an excessive reliance on russia for its oil and gas. well, while western nations have been busy trying to cut ties and become independent in those fields, they're only getting started with nuclear fuel where russia is once again, a leading export or russia is an undisputed leader in many areas. we are building more nuclear power plants abroad than anyone else. we are in the top 3 in all processes of the nuclear fuel cycle, as well as in uranium mining. regarding exports of nuclear tech. our competitors are weaker. $26.00 nuclear power units being built in the world with export attack of those $22.00 are being constructed according to our project. that is more than 80 percent of the market. it is a nice that we have occupied. we are the only ones able to implement those projects versus state nuclear corporation has managed to large and bypass western sanctions . that's because they need the roster fuel to keep their reactors running. and this

is how much the porting, according to a reports by the below. nothing tight, this pains are either a confusing picture, as you can see here, there's been a dramatic spike and import overall. so when you feel in the last couple of years and in some cases, imports doubled. not that doesn't make sense, considering that the west is trying to cut through dependence and make sure a russian doesn't get any of their money. well, according to experts, that's because they're stopping up for a rainy day or decade. 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 there more than $1000000000.00 in annual

us dollar purchases of nuclear fuel flowing from russ item the last one 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 over and rich to radium 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 records level of $1200000000.00, and that's a 40 percent increase from the year before. russia has enjoyed an enormous global new, clear market share over the past 2 decades in part due to low price fixing. the 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 world l trying. but it takes time, it's not an easy ord seats, revive old 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. they show nearly a dozen countries around will depend on russia to move in house to enrich uranium, many of them. likewise, ukraine allied members of nato 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 bringing the device as nuclear reactors that are currently in developments.

do us reliance on russian enrich fuel. also these, the countries current and future nuclear ponds 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 geo political to like wise analyst here, that is you're a pool also failed to cot size with russia, there was so proud when the check government decided to exclude brass pots and from its new projects, often for america's western houses, said the seal even boasted that they were the 1st to do so. well. a western alternative would approve and the fuel designed for this type of units. and just a year later, their work cut off or 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 of 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, not even the design for the nuclear power plant has been chosen. and then there's practice, which has reached a significant low and it's relationship with russia when it comes to print. 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 wash 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 and countries like ball guerria, the truck republic hungry and slovakia, the gun but shows that the cremeans, hefty new, clear markets continues unabated 2 years after the invasion of ukraine with new day to revealing reco trade in 2023. even his russian president vladimir putin in french for residence in manual micheal and trade military threats engineers from both countries jointly pull up the future of their atomic industries. and there it is, the bigger picture record, russia nuclear trade. over the last few years, countries have been importing record numbers of low enriched uranium from russia.

so while europe and the us are seemingly sucking up on loss of new care fuel and working on alternatives, ro side, some is 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 under. a additional projects in countries like thailand and an easy, a commode. the end of the philippines were all sorts of revenues from foreign order surpass $16000000000.00. it's once it's 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 for the russian states. 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 is an important player in the global critical minerals,

rice global, and have the power as making a come back as more nations to seek a low carbon economy. nuclear power generation is said to reach an all time high 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 are gaining a technological lead. just as the global nuclear sector is booming, with 60 reactors under construction, and to further $100.00 planned. the russian and chinese rivals have successfully designed and build small modular reactors. while u. s. companies have so far failed to deliver on plants. industry experts warn the type of long term relationships. rosa thom builds with foreign governments when constructing reactors hands. moscow, a potent soft power tool. it's little bit soft to compete with both items, 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. and he has a charles to speak with ross, lots of c, e o leg c, lee hatch of who said more about russ is nuclear technology science and is increasing number of products worldwide. a phone interview is up next. the hey, sage gauge associates, which is the international forum, adam x no 2024 is about to kick off. and so she should watch in your view is rushed as nuclear technology sector threatened by anti russian sanction like this. and is it a risk of becoming isolating the is that gets it like she skipped 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 that you to know this year. we're going

to set new records in terms of the number of countries participating in add a mexico 2024 which is about 82. and in terms of a new commerce countries, about 10 of them that will be attending at a mexico for the 1st time. in fact, for many of them, it's their very 1st and nuclear conference. we're hosting a record number of ministers in a record number of 4 and companies last, the numbers were tracking our record high. now my 2nd answer has more to do with the subsidies. 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. so, but also in terms of a whole range of related ideas for both energy and non energy sectors, like nuclear medicine for say, it will need to. in other words, the ada maxwell's relapse is growing until one of these and quality just naturally distinctions in place against russia don't make our lives any easier. the 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, on even on friendly countries prefer to keep doing business with us in one way or another. interesting, at the very least, they continue to use our services. and if the best cases we step up cooperation in this situation is complicated. design this how does russ adam manage to generate so much interest and publicity? no use like digits pretty much again, i've got a straightforward answer for you and age less true 50. well, what do we have to do? and whatever happens happens, right? we're not changing our policy to accommodate the sanctions. and we are trying to avoid any sensitive issues or with the 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 our advantage feels we employed and cutting edge approach to managing our international projects,

which is why we offer a holistic, comprehensive solution. we build the nuclear power plant. yes. but we do more than that, and so we train the staff for the plant, but we do more than that. we and home local businesses, local companies. but we do more than that. we train them, we make these companies, world class providers of nuclear technology. and then we invite them to other countries, the building plans and so on and guide me in nuclear technology. what we offer above all is partnership removed non business projects, the collaboration between countries between governments, between nations, optimum between peoples weight. and we 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 hometown, we keep developing a new generation of nuclear tech. we've got a formidable r and d unit at ross. i don't know. we've got researchers working at that for

a chart of institutions and the fact that you might find a counter intuitive. i mean, yeah, but we're even engaging our partners in this cutting edge research fielding, creating the future of nuclear technology. and that is why even on friendly countries are in no hurry to give up or to. so just let me, let me stress that again, or i'd say as long as it is physically needs to be radically possible. we will continue to fulfill our obligations to any party here, regardless of the ongoing attempts to impose restrictions and russia and our nuclear industry know what slow you mean yesterday, probably with all the efforts eisley russian. when you look at the sheer number of participants coming to out of mexico that says it all us, which means that your strategy is actually paying off the bill. and there are some clients to say that they intend to discontinue using russ adams services on top of that. but for example, the us department of energy analysis. but it is looking for new suppliers as high as a low enriched uranium for their new generation nuclear reactors. in december of 2023

us also banned in ports of low enriched uranium from russia in but news got a bit rather they created the conditions for advance, the, the schedule. i'll talk with you as well. but what is your position on all these restrictions? you know, what is the us executive game from shop follow, which it is a fed. the sup also said that you should ask them when you get the chance stuck on you, how they plan to accomplish all that. and so what their ultimate goal is, because so far as the political signaling we've been getting from washington is enough to put it mildly legally, as far as with what american companies are actually doing like this, let's go over what you said. the one thing of the time for the 1st, the so called hello hi, i say lo enriched uranium, that is the raw materials for next generation reactors. i'll try to explain what that is. in layman's terms, if we're talking about new medium enrich uranium fuel,

it's 5 to 25 percent enrichment. she used in small reactors or s m r's. this is what us lawmakers mean when they say the next generation reactor slide to so far, we're not aware of any actual projects that use american some our technologies. we're not aware that any exists. we haven't seen any on the planet, not in the united states and not in any other country. i mean, ross adam does, however, have such reactors in operation and under construction when he to the academic alum and also power, marge mikaela. so as gold mine nuclear reactor, where we've already started initial work on site and have a license for construction in that sense so we can fully satisfy our own needs in terms of medium. and richard can be rainy and, and also cover the needs of the countries that we're negotiating with as affordable . in fact, we are already signing contracts with them for the construction of small capacity reactors. we plan to supply them with 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 lou, they're going to run into one problem by noon. yes, in theory there are 2 companies centrist in rank homes that have the capacity to produce this kind of tool, but they still have a major investment phase to go through it. so, and since the investment fees will be incorporated into the cost of the 1st several times a vis uranium to or and the price is going to be quite high. and for smaller plants, this is absolutely vital upset because you see many people believe incorrectly. maybe a small plant is 10 times cheaper and 10 times faster to bill it in the city. but in reality, it's very expensive in the city. and the electricity produced by a smaller class will always be slightly more expensive compared to a more powerful plan direct, which means that the raw materials components, the uranium, sneaky owner, meat, which plays a much greater role. cool, any way we don't know what the us lawmakers are going to decide and give them a,

but we do know one thing. we should there be any restrictions on supplies to the american market. americans, some our plans will be far less competitive compared to russia's ross adam, me and you can put it on the table to. she's beautiful. beautiful is 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 in primarily volume, i was just pieces. there has been a certain growth of supply around 2025 percent over the past few years to the markets of unfriendly country is the people that's what they've experienced. and we continue to fulfill all our commitments, but the supply growth rates to the unfriendly countries. markets are 3 times higher, the 70 to 80 percent. and it's not difficult to calculate that, and the remaining time is still 2030. we will completely replace them and starting from 2032 will achieve additional profitability of our raw materials supplies to the markets of the friendly nation,

the bowie to the homeless metrics that he was bust belk not early because it was mixed up. and it's really easy to prove this, not only was crafts and figures, but also in a completely practical level. we've seen 4 units being started up in the u. a in a very russian friendly country. okay. we've seen 36 reactors launched in china over the past decade. and new capacity is built in india, indians enthusiasm with which for tia egypt, bangladesh, and many other of our partners are embracing nuclear technology. because of that, there's a growth point there you simply, there's a growth point in nuclear technology. there's a growth point in the supply of our entire fuel cycle. schools we're 2nd and uranium reserve isn't for both russian. russ adam, because we have all of the russians because their technology at ross at them is. so we're setting the reserves for the 3rd in the extraction on the 3rd in nuclear fuel fabrication and 1st, and uranium enrichment. and we're an undisputed leader here, and that's with 35 percent of the uranium enrichment market, which. so using

a sports analogy to take a look at teams standard. we do see that we are the absolute leader, not only in the export of nuclear power plants, but also in the nuclear fuel site. and since all of this runs within our circuit, we're the leader there. it's obvious that our costs in quality are often multimedia . so we'll just have to wait and see how the various countries are going to transition from clinical declarations to practical solutions. because restricting ross out them today showing you primarily deals a serious blow to the cost of their own nuclear projects. however, it won't deter us and the least as the markets of russian friendly countries that's more comfortable for us and they are expand and then us come for the us to your move up closer. i was more than what i had a question about your possible response to actions taken by in friendly countries in the future, but given the growth and expansion you've talked about. i have another question though, is there a need for responses when friendly countries has action,

which this will set them up as a separate product? so what is luggage ross? adam is a state corporation. we helped to implement the policies of the russian government, which are broadly defined by the president of the russian federation. as president clinton has said that russia will never use economic leverage to blackmail other countries that you need. we're a sovereign country when it comes to a facility in our obligation to this is when it comes to serving russian to introduce law. if our government make certain decisions we is a state corporation will obviously comply with them right. however, at this moment, before we find it extremely important to demonstrate that we are honoring our obligations even in spite of certain decisions made later and the items here, the nuances i'm talking about the nuclear industry is remarkably uni. first off, our projects are very long term should've been last year. for instance, we marked the 50th anniversary of our cooperation with friends. but look how much has happened over those 50 years since the soviet union was locked in the cold war

with the west. then it collapse late, and we had a period of turbulence in the 19 ninety's. there's the present day, russian agendas, and yet these around those 50 years just we've been meticulously scrupulously in your facility and our obligations to the french republic and french businesses. the same applies to other countries, the average construction time for a big nuclear power plant is 10 years they've been operates for an average of a 100 years. that's why we thinking different timeframe and encourage our partners to do the same thing. perhaps more importantly, this is the most sensitive area, international relations. the nuclear industry is important for the safety and security, not only of nuclear facilities. what of a country is a whole, including the issue of non proliferation, and it's very dangerous to hold it hostage to transient political interest, a political, a lease, which may be wiped off by the course of history tomorrow. we have never to be remembered again, you know,

she loved these long term ties and principles of safety and security, which had been established over several generations, may be eroding. but that's why it's important for us to both feel are currently july vacations. and especially to reaffirm the principles that ross out them 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 you 1000 a year. the director general of the i a e, a has recently said he would do the warrant against this, the point of good nuclear energy and against bad nuclear energy because it would not be profitable to the market, which it's not in the interest of market purchase. so, but my question is, what do these attempts to differentiate between good and bad? you clear energy affect your expansion? and i'd also like to know if the market agrees with gross function hello swap. it was a commercial prosecutor. it was the plaintiff. i literally assumed that's a great question you use seems to be quoting raphael groceries station at the

nuclear energy summit in your life, which let's not forget the raphael visit to russia just before the summers are held . substantial talks covering current issues, including this approach and p. p more in the future development of our cooperation june, including the 4th generation of nuclear energy. you frost hill, grocery. awesome. it was a lot of recruiting. when they discussed those areas, the idea of voice by gross teams of which had to do not just with a few cycles, with a nuclear industry as a whole, which was very clearly outlined to my booth. we said there shouldn't be any political ping pong seat or any division into good and bad energy. we ignore any attempts to pick one countries, nuclear industry against another one. that's exactly the view we a spouse. there's no good or bad and there's, 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 fetishize. outdated monitors about who's

good and who's bad, and so uh, we don't even want to go there because of all our supplies or sage or mall, our facilities are fully transparent and which is one of our advantage is when we launch the construction of an n p, p or start supplies to a foreign country. we engage with the lease of the country, such as journalists and peas, technical experts, and bring them to our existing n, t p. as soon as to our seats and enterprises to show them how it all works in russia, and that you know that the nuclear power industry we'd like to foster defeats the irony of your question in the current situation as a whole is perhaps as follows. on the one hand grossi is a very brave man for saying these things in brussels, in the heart of the angel workforce on the other. it's really so trivial and self evident. good. how can you left a political ambitions of this or that click the cyber security, a whole cotton uh, and the future of nuclear energy for the whole planet. you can't, so 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 in plain common sense. it's common sense to treat the development and safety of global nuclear energy as a separate area and tarnished by political entry. and i believe the i use general director of such as agenda for many years to come to someone in the group. i just didn't get the on the, some of the shuttle stuff start doing up to sure. the current spot price and the natural uranium market stands and around a $100.00 usd of pounds with any literacy book to give our viewers some background . it was a quarter of that 25 us see a pound in 2022. we do expect this upward trend in prices to continue that. and to what extent does that affect the energy prices for consume is uh not still it may increase the 20s with more with me for to the lowest bullshit was we, i don't know if you meant to do that. what's your last question surface back to your 1st or can you start with good news versus what you're talking about?

spot prices, which applies to contracts that are being concluded at the present moment. it is what we, however, rely on the long term contract prices, which currently stand at around $70.00 to $75.00 per pound and are not fluctuating to disastrously, nor is true that spawns prices. first look the $100.00 threshold and it's been exceeded. it. what do you for coming back to route $85.00 to $80.00 per pound. that's why because washington just incident, some possible limitations in the future with some funding people heard about coming to restrictions and started buying and stock piling at a loss to them to their economies and their technological cycle. just to keep the demand drives up prices like you to people forced out shoot some of the we made money. me as well. you one should think before same thing mostly once you think, 1st of the vin, actually. yeah. so such things do not destroy supply chains. which have been established for many years and mess up optimized cost calculations, etc, that will try. they also create a panic and marketing support. you can, people are scrambling somewhere,

losing it somewhere. raking and process your suppliers always make money. so it was a situation where an attempt to say bad things about us, the ultimately led to a frenzy. and since we always stay calm, we were able to make a little more money into us. the market loss as a whole, different must be honest about that. many of our partners, lots of money because someone in washington was itching to announce future restrictions against russia. and that's how it always will be. so we rely on mid term contracts, which are spread over time. and we encourage the international community to do long term planning. so going to con fashion and to minimize the influence of political signals and slogan was on the implementation of carefully considered projects. and the nuclear industry, not for a piece was total. nothing like save getting space to run by sure. thank you so much. well, the best of luck to you and or a side them, but also i'll explain to you. thank you. the

there's no end in sight over how you're going to continue to destroy the earth. is the case for the madness of the people. i tried to go to the gym, but i'm certainly not ready to fight russia. this is also a pursuit. this is 3rd world lunacy re washington. press 4, so the funder line likes to say we have the tools while we just start with stability and business deals to be living on mac. we have very good stuff again that you know, a 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. the more questions ask the better the answer is will be the every spring and summer, the melting optics move reveals a band of machinery, millions of rusty barrels,

and the detritus left by human expansion into this most inaccessible of territories . yes, i used to move, so take off my on both of us for some reason, you know, it's supposed to be done as an issue. calling to us from clean optic travels the highest island home to the biggest opponent station on the friends of joseph land. archipelago. sierra really asked me for our laws and that was your more you have to do should. so it means it's me when you feel when we see lots of money and i'm but some of the some will stay on the old stuff list unless you feel like a mess almost a little bit. see me membership when you to i've got the serial no boys the place to join me instead of the optic pioneers main objective was to explore and comcast of these harsh lands. they had no time to think about waste management now and, and then can see could remain for centuries. that's my of my choice. the film industry at the course you system is a multiple in your company to include at the dealership issue, the

the, you know, but we central speaking but we are interested in to hold. this may be an event in a series of with them and less than by those who have been fighting pressure since 2014 at the hands of the new russian president. main thing clear that friday terror attack is consistent with the print. the entire thing is, is a voted birth ally, america by the brothers, as washington is fine to whitewash length of lease for the suspects of the service all makes and for the train border wasn't emitted a priority to ease of any goods and ship the blame on to ices k.