Five country alliance is set up to ‘isolate’ Vladimir Putin in an attempt to “undermine Russia’s grip on supply chains” from the international nuclear energy market.
The alliance between the US, UK, Canada, France and Japan will support the “stable supply of fuels” preventing Putin from holding the “world to ransom” over energy.
The announcement was made at G7 talks in Japan and the five country alliance will use civil nuclear power stations rather than buying from Russia to help fund Putin’s war in Ukraine.
Energy Security Secretary Grant Shapps said: “The UK has been at the very heart of global efforts to support Ukraine, defeat Putin and ensure neither him nor anyone like him can ever think they can hold the world to ransom over their energy again.
“This is the next vital step, uniting with other countries to show Putin that Russia isn’t welcome anymore, and in shoring up our global energy security by using a reliable international supply of nuclear fuel from safe, secure sources.”
Much like the UK, Japan is a nation proud of its history and heritage. We must protect our legacies for future generations to enjoy. Becoming energy secure and using renewable energy are key to growing our economy and safeguarding our environment. #G7 pic.twitter.com/qOIMNJOjP9
— Rt Hon Grant Shapps MP (@grantshapps) April 15, 2023
The Energy Department said this will strengthen the UK’s nuclear energy sector which will help to reduce electricity bills.