Going Nuclear: Russia’s Continued Dominance in Atomic Energy

Russia currently dominates the world's atomic energy sector, although signs point to significant changes underway.

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Sanctions have severely damaged Russia’s core export industries. Its natural gas exports have been stymied by reduced European pipeline access, China’s lack of interest in expansion, and limited prospects for expanding its liquified natural gas (LNG) sector. Although oil exports continue, sanctions have forced Russian firms to sell at a considerable discount, and newly introduced sanctions will likely further limit revenue from the sector. Russian arms exports – once a mainstay on the world stage – have plummeted 92% since 2021 due to sanctions, inflation, funding issues, and redirection of resources to Ukraine. However, one sector of Russia’s economy continues to thrive, with buyers so dependent on it that they quietly refuse to even consider sanctions – nuclear energy.