Russia's Rosatom Moves Uranium Profits Through Netherlands

The Dutch public broadcaster NOS has revealed that the Russian state nuclear company Rosatom is utilizing a Dutch subsidiary to channel hundreds of millions of euros in profits, highlighting Europe's ongoing reliance on Russian uranium during the ongoing conflict in Ukraine. Despite the war, several European nations have refrained from imposing sanctions on Rosatom, which commands a significant 35% share of the global enriched uranium market. In its 2022 annual report, Rosatom disclosed that it paid over 3.1 billion euros in taxes, with uranium extraction operations based in Kazakhstan and Tanzania funneled through its Dutch subsidiary. This arrangement allows revenues from these countries to flow into the Netherlands before being transferred back to Russia. The Dutch subsidiary reported a profit of 222 million euros in 2022, with a substantial portion sent to the Russian parent company. Experts indicate that completely severing ties with Russian uranium is currently unfeasible. Russia remains a critical player in the nuclear energy sector, particularly as the sole provider for recycling spent uranium. Several former Soviet-era power plants in Central and Eastern Europe, including those in the Czech Republic, Slovakia, Bulgaria, Hungary, and Finland, continue to depend on Russian fuel rods. Research from the Norwegian environmental organization Bellona has shown that European imports of nuclear fuel from Russia doubled in 2023. Additionally, the Dutch Nuclear Safety and Radiation Protection Authority (ANVS) has recently issued permits for importing Russian nuclear fuel for the Urenco facility in Almelo, further entrenching this reliance.