Uranium Energy Corp surges 8% as Russia imposed temporary restrictions on the uranium export 📈

Russia, the world's largest supplier of enriched uranium, said today that it had imposed temporary restrictions on the export of enriched uranium to the United States. Russia has 44% of the world's uranium enrichment capacity and 35% of U.S. nuclear fuel imports used to come from Russia, according to the national data. After this information, the biggest US-based uranium enrichment company Centrus Energy (LEU.US) drops 5.5%, while the largest US based uranium miner Uranium Energy Corp (UEC.US) surges 8%, awaiting to profit from higher spot uranium prices, supported by trade restrictions between US and Russia.