Centrus Energy Corp. (NYSE: LEU) stock plummeted over 10% in the pre-market trading session on Tuesday, following the news that Russia has canceled the license for its company TENEX to export low-enriched uranium to the United States through the end of 2025.

Russia's move comes after the U.S. had previously banned Russian uranium imports. As the world's largest supplier of enriched uranium, Russia's temporary restrictions on exporting the fuel to the U.S. pose a significant challenge to Centrus Energy's business operations and its ability to meet delivery obligations to customers.

TENEX, which previously held a license to export low-enriched uranium to the U.S., now needs to obtain specific export licenses from Russian authorities to fulfill remaining 2024 shipments and all 2025 shipments. However, there is no certainty on whether or when these licenses would be issued by Russian authorities, Centrus Energy warned.