Kazakhstan Plans Uranium Exports to Finland Under New Agreement

Kazakhstan and Finland have signed a memorandum of understanding during Finnish President Alexander Stubb's official visit to Kazakhstan, establishing a legal framework for potential uranium supplies from Kazakhstan to Finnish nuclear power plants. The agreement also includes provisions for sharing expertise and aligning nuclear regulatory standards, with Kazakhstan praising Finland's regulatory framework as a model recognized by the International Atomic Energy Agency. Kazakhstan, the world's largest uranium producer with about 15% of global reserves, is advancing its own nuclear energy ambitions, planning to commission its first nuclear power plant by 2035 with Russian and Chinese partners involved in separate projects. Finland, which relies significantly on nuclear power for its energy needs, is exploring alternatives to Russian nuclear fuel, having already begun sourcing from U.S.-based Westinghouse Electric amid geopolitical tensions following Finland's NATO membership and EU sanctions on Russia. While details on shipment volumes and timelines remain unclear, Kazakhstan's uranium exports to Finland may transit through Russia, reflecting Kazakhstan's delicate diplomatic balancing amid the Ukraine conflict. Both countries view this cooperation as an opportunity to enhance energy security and nuclear expertise exchange.