the, this is a powder keg at the heart of bureau to stand united with our allies for feed my generation. never to see those see in europe. again, the key figures from the global nuclear industry are government agencies, along with international experts, a little conversion on the russian black seat result of salt chief for a major conference on a public entry. russia is already a leading player in the field on the west is basically trying to play, catch up off the cutting itself off from cheap energy from moscow. his aunty is, maureen, a customer of the conflict. the new crane has exposed everyone's weaknesses and dependencies for the west as being the lack of cohesion, munitions, money,

and excessive reliance on russia for its oil and gas. well, while western nations have been busy trying to cut ties and becoming dependent in those fields, they're only getting started with nuclear fuel where russia is, once again, a leading exporter in 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 projects 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 new corporation has managed to large new bypass western sanctions.

that's because they need the russian fuel to keep their reactors running. and this is how much they've been reporting according to our 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 saving. you can feel in the last couple of years. and in some cases in ports 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 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 are more than $1000000000.00 in

annual us dollar purchases of nuclear fuel flowing from russ item they we left small in south, but i pads for now. and just like you are, they're also stuck up on resources and making russia richard. now take a look at this graph right here. now. well, washington discusses banning the import open bridge 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 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 close 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 easy or cheats. revive old reactors and build new ones. plus with some of them, you can just change the fuel source. so it's for the last year, as in decades before russia was the united states, number one supplier of enrich uranium supplies, sending almost the closer to the nuclear fuel used in the americas commercial, reactive fleet department of energy dates. nearly a dozen countries around will depend on russia to move in house to enrich uranium. many of them, likewise ukraine. i like members of nato process not only 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 advisors, nuclear reactors that are currently in development. the us reliance on russian in which fuel also leaves 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 chief political to like wise analyst here. that is you're a poor also failed to cot size with russia. that was so proud when the check government decided to exclude cross paths and from its new projects, often for america's western houses, said the c o even boasted that they were the 1st to do so. well. a western alternative with a proven fuel design for this type of units. and just the 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 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, 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 russia 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 us 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 side, some so assemble fuel in germany and that is for reactors that still use ross and 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 that shows that the criminals has been new, clear markets continues unabated 2 years after the invasion of ukraine, with new data revealing reco trade in 2023. even his russian president vladimir putin and french president to manual macro and trade military threats. engineers from both countries, jointly pulled the future of their atomic 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 enriched uranium from russia. so while europe in the us are seemingly sucking up on loss in new care fuel and working on alternative restaurants. um is that a really busy caching 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 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 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 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 react is under construction and to further $100.00 planned. a russian and chinese rivals have successfully designed and built small modular reactors, while u. s. companies have so far failed to deliver on plans. 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. well, we had a chance to sit down with a growth items c o, like see gosh, off who basically shred more about russia is a nuclear technology sector, but also he discussed a vast number of increasing projects. rostock, them was involved with weld, why it saves getting uh switch. you mentioned that the international forum, out of ex mo, 2024 is about to kick off. and so she should watch 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 to follow with you? yes, there are 2 ways in which i can answer this question. the 1st is more of an objective approach as a deals with numbers during 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 a 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 and nuclear conference. we're hosting a record number of ministers, a record number of 4 and companies off 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 for both energy and non energy sectors, like nuclear medicine for example, needed. in other words, the adam maxwell's platform is growing and both quantity and quality, just naturally distinctions in place against russia. don't make our lives and the

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, even on friendly countries prefer to keep doing business with us in one way or another. and at the very least, we continue to use our services. and the best cases we step up cooperation because in this situation is complicated design. how does rust out of manage to generate so much interest and publicity? you might, you know, use once again, i've got a straightforward answer for you and age less true. so if you will, 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 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 are advantages we employ 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, so 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. i mean, in nuclear technology. now what we offer above all, is partnership non business projects. but collaboration between countries between the governments, between nations, 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 helped them, we keep developing a new generation of new to their tech. we've got a formidable r and d unit at ross out on. now we've got researchers working at the current chart of

institutions. in fact, you might find it counter intuitive, but we're even engaging 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 them. so let me stress that again, okay, as long as it is physically, theoretically possible, we will continue to fulfill our obligations to any party here, regardless of the ongoing attempts to impose restrictions on russia and our nuclear industry. no. what's for? you mean yesterday probably with all the effort to isolate russian, when you look at the sheer number of participants coming to adam expo that says it all us, which means that your strategy is actually paying off you still, there are some clients who say that they intend to do continue using russ adams services, ultimately, 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 in but you've got a rather big created conditions for advance the, the cause, but talk with you as well. but what is your position on all these restrictions? what is the us to expect the game from his uh, follow chip is a sudden the sup also said that you should ask them when you get the chance of getting how they plan to accomplish all that and what their ultimate goal is. because so far as the political signaling we've been getting from washington is to put it mildly at odds with what american companies are actually doing like this. let's go over what you said. one thing at a time. first, 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 that 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 s. m. our 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 power, marge, and the chaos. those 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 us before. 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 by noon? yes. in theory, there are 2 companies centrist in rank homes that have the capacity to produce this kind of fuel, but they still have a major investment phase to go through it. so, and since the investment fees will be in corporate, into the cost of the 1st several tons of this uranium to 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 bill up here. 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 direct, which means that the raw materials component, the uranium component mean, which plays a much greater role. cool, any way we don't know what the us lawmakers are going to decide, give them,

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 out them new computer. and i was hoping to be able to, she's pretty sure it's beautiful that i still retain it for them. now returning to the topic, you mentioned restrictions on the supply of enriched uranium products. you see considering both prices in primarily volumes, there has been a certain growth of supply around 2025 percent over the past few years to the markets of unfriendly countries. if the people that's what they've exist 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 materials supplies to the markets of the friendly nations

devoted to the homeless. most of the city with west bell could not route because it was mixed up. and it's really easy to prove this. not only was traps 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, we've seen 36 reactors launched in china over the past decades and new capacities built in india, indian susie, as and with which for tia egypt, bangladesh, and many other of our partners are embracing nuclear technologies. there's a growth point there you see me, 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 reserve is both russian ross at them because we have all of rushes need to their technology at ross at them. so we're 2nd reserves, 3rd in the extraction, 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 or enrichment market which. so using

a sports analogy, if you take a look at teams standards, 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 and the lease, 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 a pool. so i was most of them. well, 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 response to in friendly countries as actions?

so you all set them up themselves. so what is luggage 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. as president clinton has said that russia will never use economic leverage to blackmail other countries. we're a sovereign country when it comes to a facility in our obligations. this is when it comes to serving russian interest. if our government make 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 in the items here. the nuances i'm talking about in the nuclear industry is remarkably uni. first off, our projects are very long term. 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. 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 new affiliate 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. it'd been, operates for an average of a 100 years. that's why we thinking different timeframes and encourage our partners to do the same thing. 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 as a whole, including the issue of non proliferation. it's very dangerous to hold hostage to transient political interest, a political, a lease, 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 a road. and that's why it's important for us to both feel our current legal obligations. 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 the you the director general of the i a e a has recently said he would warn against this point of good nuclear energy against bad nuclear energy because it would not be profitable to the market and it's not in the interest of marketing purchase. so, but my question is, what 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 agent. hello. so of course, uh we have a commercial particular list of play notified and literally see, and that's a great question you use seems to be quoting raphael grocery stations at the nuclear energy summit in europe. let's not forget the raphael visit in russia just

before the summers are held. substantial talks covering current issues, including this approach at m p. p. in the future development of our cooperation to including the 4th generation of nuclear energy and for our sale grossi awesome. it was a lot of recruiting when they discussed those areas, the idea of voice by groceries, which had to do not just with a fuel cycle with a nuclear industry as a whole of which was very clearly outlined to my opinion. was that there shouldn't be any political ping pong as you put a, any division into good and bad energy, nor any attempts to put one countries nuclear industry against another one. that's exactly the view we, a spouse. there's no good or bad enter, so 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 mattress about who's good and who's bad,

and so we don't even want to go there with all our supplies or sage or mall. our facilities are fully transparent and which is one of our advantages when we launch the construction of an m 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, t p. and so as to our students and enterprises to show them how it all works in russia. mature, that's the nuclear power industry. we'd like to foster each. 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 little one on the other. it's really so trivial and self evident there's how can you left a political ambitions of this or that click the side, the security of the whole continent and the future of nuclear energy for the whole planet. again, you can't get 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, untarnished by political entry. and i believe the i a e is general director test set this agenda for many years to come within the group. i just didn't get the sort of shift what was the start doing of so sure, the current spot price and the natural uranium market stands at around a $100.00 usd a pound with any literacy book to give our viewers some background. it was a quarter of that $25.00 usd a pound in 2022. we do expect this upward trend in prices to continue. and to what extent does that affect energy prices for consumers? not still it made increase the twenty's with more with me for to to know us bullshit was we, i don't know if you meant to do that. what's your last question surface 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 at the present moment. it is what 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, nor is true that spawns prices 1st licked the 100 dollars threshold, then exceeded it before coming back to route $85.00 to $80.00 per pound. that's why because washington just incidents, some possible limitations in the future. so poignant people heard about coming restrictions and started buying and stock piling at a loss to them to their economies and their technological cycles to keep demand drives up prices such as people formed out huge sums we made money, me as we one should think before same thing mostly, once you think, 1st of then actually yeah, so such things do not destroy supply chains which have been established for many years and mess up optimized cost calculations, etc. and they also create panic in the market. supports people are scrambling summer losing summer raking and process. the 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 into us the market last as a whole different, let's 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 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. not a peaceful store, no not receive games by to run by sure. thank you so much. well, the best of luck to you and recite them, but will solvable explain to you. thank you. the

water is a part of it that the employee would pose good. isn't the deepest you of us and that in the word part, is it something deeper, more complex might be present? good. let's stop without collision. let's go out of the

the launch right here will not take us to a full suspects and fridays concert hold mastercard most ago, which claimed the lives of a $137.00 people plead guilty to terrorism charges all of them now remaining and custody. while the investigation configure the more footage of the tragedy in moscow emerging, but i mean some of the doctors to our hail it's a true hare was women. i realize that we had to wait and get people out. i tried to stay calm and help everyone. we shouted to people where to go to the emergency exits so that everyone we.