UK will supply enriched uranium to Ukrainian nuclear power plants

This will allow the British company Urenco to supply enriched uranium to Ukraine's Energoatom.

The agreement was reached between UK Prime Minister Keir Starmer and President Volodymyr Zelenskyy during their meeting on Downing Street last week.

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This agreement is crucial for Ukraine's energy security, as Energoatom provides over 50% of the country's electricity.

The agreement will support job creation and export growth in the UK, as over a third of the uranium comes from Urenco's reprocessing plant in northwest England.

The funding provided by UKEF builds on a previous two-year agreement to supply nuclear fuel to Ukraine.

"By securing Ukraine's energy supply, the agreement strengthens the country's resilience and ability to counter Russian attacks on its energy infrastructure, directly supporting the security interests of the UK and the Euro-Atlantic community," the British government said in a statement.

Photo: cnbc.