U.S. Senators Jim Risch (R-Idaho), ranking member of the Senate Foreign Relations Committee, and Joe Manchin (D-W.Va.), chairman of the U.S. Senate Energy and Natural Resources Committee, introduced the Civil Nuclear Export Act of 2023 (CNEA). The bipartisan legislation would enhance the ability of the United States to compete in existing and emerging nuclear markets that will help our partners and allies reduce dependence on Russian and Chinese civil nuclear technologies.

“The United States possesses the world’s leading nuclear energy technologies as evidenced by our small modular reactors (SMRs). Promoting the export of SMRs and other innovative nuclear energy technologies is essential to America’s economic and national security,” said Risch. “If we allow Russia and China to dominate the nuclear energy field, it will be nearly impossible to undo. Our legislation will allow us to facilitate greater investments and exports in this vital energy sector.”

“For too long, the United States has sat by while China and Russia have worked to dominate the global nuclear energy market. The Civil Nuclear Export Act provides enhanced financing tools to enable U.S. civil nuclear companies to compete against Russian and Chinese state-sponsored entities. By enabling our partners and allies to turn to the U.S. for civil nuclear technology instead of Russia or China, we will be able to build a supply chain that reduces dependence on nations that don’t hold our shared values,” said Manchin.

The Civil Nuclear Export Act of 2023:

• Modifies (12 USC 635(I)) to specify the financing of civil nuclear facilities, materials, technologies, and related goods and services that support the development of the nuclear energy sector.
• Improves the ability of U.S. civil nuclear companies to compete with Chinese and Russian state-owned and operated civil nuclear entities by providing competitive financing options. 
• Enhances the ability to compete in emerging nuclear markets while also ensuring our partners and allies buy U.S. civil nuclear technology instead of Russian and Chinese technologies.

Full text of the legislation can be found here.

Original source can be found here.