Russian cancellation of export low-enriched uranium permit causes Centrus (LEU.US) stock price to decline.

Centrus Energy (LEU.US) disclosed before the market opened on Tuesday that the company received notification from the Russian state-owned nuclear fuel supply company Techsnabexport (TENEX) that the Russian government has issued an order cancelling its license to export low-enriched uranium to the United States by the end of 2025. Following the announcement, as of the time of writing, the company's stock price dropped 3.22% in pre-market trading on Tuesday. Centrus stated that TENEX is seeking the necessary export licenses, but it is uncertain whether or when the Russian authorities will issue the licenses. The company indicated that if TENEX is unable to obtain the export licenses, it will impact Centrus' ability to fulfill its delivery obligations to customers. Last week, Russia, the world's largest supplier of enriched uranium, said that after the United States banned the import of uranium from Russia, Russia temporarily restricted the export of enriched uranium to the United States. TENEX needs to obtain specific export licenses from the Russian authorities to complete the remaining shipments in 2024 and all low-enriched uranium shipments in 2025.