Russia considers restricting uranium and nickel exports, and the US uranium mining sector responds with a sharp rise
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Russian President Putin is considering restricting the export of uranium, titanium, and nickel in retaliation against Western sanctions, leading to a surge in the uranium mining sector of the US stock market. Companies such as Cameco and Uranium Royalty saw their stock prices rise by over 6%, while Energy Fuels surged by over 8%. Putin stated that Russia is in a leading position in strategic raw material reserves, and the restrictive measures should not harm Russia. Nickel futures on the London Metal Exchange rose by 2.5%
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