Biden Requests $2.2 Billion from Congress for Uranium Purchases

US President Joe Biden has requested $2.2 billion from Congress to purchase uranium, aiming to invest in American producers and halt supplies from the Russian Federation, as outlined in the country's proposed 2025 fiscal year budget.

"The budget includes the administration's anticipated additional request of $2.2 billion for the procurement of low-enriched uranium (LeU) and high-assay low-enriched uranium (HALeU)," the budget proposal states.

According to the document, the funding request is accompanied by a long-term ban on the import of certain categories of uranium from Russia and is aimed at fostering investments in American producers to reduce dependence on the Russian Federation.