The Blubber

Per BI

US companies are still reliant on affordable nuclear fuel from Russia, resulting in $1 billion spent annually on the Kremlin's nuclear agency. This was according to the NYT, which shared how the money was spent mostly on enriched uranium.

Darya Dolzickova, Royal Tank United analyst, said that another $411.5 million worth of enriched uranium was imported into the US from January to March 2023. Antony Froggatt, Chatham House's deputy director, also commented on the topic of sanctions.

Froggatt: "I think it's fair to say that probably in terms of sanctions [nuclear fuel] has gone a bit below the radar... It shouldn't be that any sector is exempt from scrutiny... Even though financially it may be less important, I think for an overarching equity of policies it should be put against all energy sources,"

Toward the end of May, it was reported that Saudi Arabia was selling its own supplies to the EU while buying millions of barrels of Russian diesel. This was as Russian diesel was no longer allowed by Europe.

Recently, Russian oil imports in China reached an all-time high as Europe has almost entirely cut back. Beijing's imports of Russian crude reached 2.29 million barrels daily.

See flow at unusualwhales.com/flow.

Other News:

• Saudi Arabia sells its own supplies to EU while buying millions of barrels of Russian diesel no longer allowed by Europe
• Russian oil imports in China reach an all-time high as Europe almost entirely cuts back

Resources:

Business Insider