Britain’s decision to leave the Europe Union is raising risks for 66,000 workers in the nuclear power industry and threatening to disrupt the flow of atomic fuel across international borders. The government in deciding to quit the EU also plans to pull out of the continent’s 60-year-old nuclear safety and research organization, according to a Feb. 2 policy paper from Prime Minister Theresa May’s administration. Industry officials say leaving the European Atomic Community, or Euratom, would require the U.K. to spend years replicating rules and international agreements needed to trade radioactive materials with other nations. Just as bankers have made London a global financial hub, nuclear workers have turned the U.K. into a central cog servicing the world’s flow of atomic materials. Membership in Euratom has helped Britain become a leading manufacturer of reactor fuel and a key participant in EU-led nuclear research projects. Leaving Euratom will require the industry to create new ways of doing business — which is not straightforward. Keeping U.K. nuclear-industry workers employed after Euratom will require new deals with non-EU countries including Australia, Canada, Japan and the U.S., according to Persbo, who called the impending negotiations “tricky business” for the international uranium trade.
Bloomberg 9th Feb 2017 read more »