The Russian state nuclear company Rosatom uses a Dutch subsidiary to move hundreds of millions in profits, including during the war with Ukraine. Writes UNN with reference to Nederlandse Omroep Stichting.
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During the war with Ukraine, Russia is benefiting from Europe's dependence on the Russian uranium sector: a recently published annual report confirms that Rosatom's subsidiary Uranium One plays a key role in providing tens of millions of euros to the Russian budget.
“Rosatom, which operates the seized nuclear power plant in Zaporizhzhia, uses a subsidiary in the Netherlands, Uranium One Cooperative, which helps Russia actively engage in the extraction of nuclear raw materials in Kazakhstan and Tanzania. From these countries, funds are transferred to the Netherlands and then sent to Russia. In 2022, the Dutch company made a profit of $240.6 million (€222 million).
Tens of millions of them were transferred to the parent company in Russia, NOS writes.
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Uranium trading and other activities also bring a significant amount of money to the Russian treasury every year. According to the parent company's annual report, in 2022, Rosatom paid more than 291 billion rubles (3.1 billion euros) in taxes. At the same time, Rosatom remains untouchable in the context of European sanctions.
The nuclear sector in the West cannot do without this company, which is the world's largest supplier of enriched uranium with a 35% market share.
Rosatom's ongoing contribution to the Russian budget, facilitated by Uranium One, underscores the challenges Europe faces.
The extensive network of subsidiaries and international operations also makes it difficult to implement sanctions that effectively target key components of the Russian economy.