Inside the world’s first nuclear waste tomb in Finland

Published

2 years ago

October 17, 2022

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The world’s first geological tomb for nuclear waste is rapidly taking shape more than 400 metres below the forests of Finland.

Batches of lethally radioactive uranium will start arriving within two years for burial in the warren of tunnels carved into the bedrock.

Other countries, including the UK, are considering plans to build their own geological disposal facilities, which should safely isolate the 260,000 tonnes of highly radioactive waste that has accumulated worldwide since the dawn of nuclear power in the 1950s.

Sky News was given rare access to the site, called Onkalo, which means “cavity” in Finnish. It is built next to three nuclear reactors on the country’s southwestern coast.

Security was so tight in the aftermath of the sabotage of the Nord Stream gas pipeline that there was a strict no-filming rule above ground.

But we were taken down the 5km access road that winds through the bedrock, so deep that our ears popped.

At the bottom, further tunnels fanned out. So far five have been completed, but up to 100 could be built over the coming decades, stretching to more than 40 miles in all.

Our guide was Sanna Mustonen, a geologist and senior project manager for Posiva, the company that runs the facility.

She said the bedrock was formed almost two billion years ago and has remained intact ever since.

“The rock itself, like in the whole area of Finland, is very stable,” she said.

“We have old rock. We don’t have continental plates nearby, so we don’t have any earthquakes, seismicity, or things like that.”

‘There must be security’

Like other countries Finland stores spent nuclear fuel above ground in shielded bunkers while it seeks a long-term solution.

But Mika Pohjonen, managing director of Posiva, said it would be irresponsible to leave such dangerous waste where it could fall into the wrong hands.

He told Sky News: “If you look at history, 300 years back, how many wars have there been in Europe, for example?

“On the surface the interim storage needs active measures from humans, the building needs to be heated, the spent fuel must be cooled, there must be security around it.

“If you look a generation forward you cannot really see that that kind of arrangement would be risk-free enough.”

Various solutions to the nuclear industry’s waste problem have been suggested, including: launching it into deep space, burying it in an ocean trench and dropping it into a fissure in the Earth’s crust.

They’ve been dismissed as unfeasible, expensive or environmentally risky.

‘Safe for one million years’

Instead, Posiva will encase spent nuclear fuel in double-layered metal cannisters that will slot into holes bored in the floor of the tunnels.

To keep them dry, they will be swaddled in bentonite, an absorbent material used in cat litter.

More bentonite will be used to backfill the tunnels, which will be plugged with concrete.

When the complex is full in around a century’s time, with perhaps as many as 3,250 cannisters, it will be sealed up and all trace removed above ground.

“It will be safe for one million years,” Mr Pohjonen said.

“There may not be humans here any more because in that time there will be ice ages or [this area will be] underwater but this is designed to keep it out of the biosphere.”

Dummy cannisters are already buried in bentonite and surrounded by sensors.

Some scientists have warned water could corrode the metal, become radioactive and then rise to the surface over millennia.

But Posiva says the multiple barriers keep the waste in and water out. And if there was a leak in a highly unlikely worst-case scenario, modelling shows that by the time any water reached the surface in 10,000 years the radioactivity would have decayed so much that it would not be a threat to life.

Finland’s progress has been watched closely by other countries. Sweden has begun construction of its own deep geological disposal site. France, Switzerland and the UK are further behind.

A shortlist of four possible sites in Cumbria and Lincolnshire has been drawn up.

Bruce Cairns, chief policy adviser at the UK’s Nuclear Waste Services, was also taking a look at Onkalo while we were there.

He said responsible permanent disposal for waste is essential as the country commissions a new generation of reactors.

“We have 70 years’ worth of waste in the UK that’s already accumulated from energy production, defence and industrial processes.

“It’s not going anywhere unless we do something with it. We have to take action to make sure this is managed responsibly, not just for now but for the long term as well.”

Key to Finland’s progress has been engagement with the local community.

Locals in favour

The nearest settlement is Eurajoki, about 10 miles away.

The existing nuclear reactors were already big local employers and when the area was selected from a shortlist of disposal sites the local authority voted overwhelmingly in favour.

Vesa Lakaniemi, the town’s mayor, said: “We have had nuclear power here for 40 years.

“People know about nuclear and final [waste] disposal much more than in the areas which don’t have a nuclear power plant.

“Trust has developed over four decades.”

World

‘Wolf of Wall Street’ Jordan Belfort breaks silence on Trump’s tariffs

Published

5 hours ago

April 11, 2025

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'Wolf of Wall Street' Jordan Belfort breaks silence on Trump's tariffs

‘Wolf of Wall Street’ Jordan Belfort has told Sky News there’s “no way” Donald Trump is guilty of insider trading or market manipulation.

Opponents say the president has questions to answer after he said it was a “great time to buy” shares – four hours before the stock market surged on Wednesday when he paused tariffs.

Mr Belfort told Gillian Joseph the fact Mr Trump made the statement on social media meant it was public, rather than him tipping off a few people.

Tariffs latest: Trump – ‘everything will be beautiful in the end’

Speaking on The World programme, Mr Belfort said: “I personally don’t find it overly suspicious. Especially since he’s told it to everybody at once.

“If he hadn’t said anything and told five of his best friends ‘I’m gonna ease this tariff situation – you should be buying’, that would be illegal.”

Insider trading is when people take advantage of non-public information to buy or sell shares and make a gain.

The former stockbroker was famously played by Leonardo DiCaprio in the film about his early life and admitted crimes related to stock manipulation.

Mr Belfort said Mr Trump’s post was just repeating what the president had said previously, and that buying when share prices plunge is a well-known investment move.

“He had been saying that all along [to buy], it wasn’t the only time he’d said that,” said Mr Belfort.

“[Treasury] Secretary Bessent had been saying that too. It’s a really basic piece of advice.”

Stock markets around the world plunged dramatically on Monday due to the start of America’s wide-ranging tariffs on imports from around the world.

The world economy was rattled again just two days later when the president said nearly all of the taxes would go on hold for 90 days.

The key S&P 500 index jumped nearly 10% – a huge daily increase.

Rival Democrat politicians say Mr Trump‘s encouragement to buy raises “grave ethics concerns”.

Some are calling for an urgent inquiry into whether any of his family or administration officials benefited by dealing in the stock market ahead of time.

The White House said the president’s post was simply reassuring Americans “about their economic security in the face of nonstop media fearmongering”.

Mr Belfort accused Democrat figures of trying to “earn brownie points with the media and their party”.

‘Not gonna be pretty’

Despite the mid-week surge, turbulence in stock markets appears far from over – chiefly because China and the US remain locked in a tariffs stare down.

American indexes closed down again on Thursday, Japan’s Nikkei fell about 5% early on Friday, and Hong Kong stocks are heading for their worst week since 2008.

Gold meanwhile, considered a “safe haven” asset, has climbed to a record price and earlier today passed the $3,200/oz level for the first time.

Mr Belfort told Sky News that while he was against tariffs generally, President Trump’s dramatic intervention was necessary as the US has an “insane” trade imbalance and imports far more than it exports.

“The United States has been drained of its wealth, drained of its factories,” he said.

“It’s not gonna be pretty,” added Mr Belfort. “There’s going to be pain – but the path we were on before is simply unsustainable. It had to change.”

He said he was sceptical over fears the tariffs will hit US consumers hard, with some predicting goods – including popular items such as the iPhone – could jump in price if costs are passed on.

The former trader said he believes firms would shift production from China, which is subject to a tariff of more than 100%, to places such as India, and that exemptions would eventually be agreed.

He also gave the thumbs up to Elon Musk‘s controversial government efficiency role which has forced thousands of jobs cut.

“I love what is being done because the amount of abuse and waste and fraud, it’s absolutely insane,” said Mr Belfort.

“It’s a great thing that’s happening. Obama talked about doing it, Clinton tried it; this is not a new idea to try to make the government more efficient.”

If Mr Musk leaves or quits in the near future, as is rumoured, Mr Belfort said the world’s richest man has installed “some very seasoned business people that really care about the country”.

World

Day 82: Stock market whiplash – did Trump’s friends get richer?

Published

5 hours ago

April 11, 2025

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Day 82: Stock market whiplash - did Trump's friends get richer?

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With markets tumbling again, President Trump has been meeting his cabinet – where more questions were put to him over his turbulent tariff plan. On Day 82, US correspondents Mark Stone and James Matthews discuss what happened.

Plus, Mark has been on the road in Wisconsin and Minnesota, speaking to people caught up in the crossfire of the trade war.

If you’ve got a question you’d like James, Martha, and Mark to answer, you can email it to trump100@sky.uk.

Don’t forget, you can also watch all episodes on our YouTube channel.

World

How Trump changed his mind on tariffs

Published

20 hours ago

April 10, 2025

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“Liberation Day” just gave way to Capitulation Day.

US President Donald Trump pulled back on Wednesday on a series of harsh tariffs targeting friends and foes alike in an audacious bid to remake the global economic order.

Mr Trump’s early afternoon announcement followed a harrowing week in which Republican lawmakers and confidants privately warned him that the tariffs could wreck the economy.

His own aides had quietly raised alarms about the financial markets before he suspended a tariff regime that he had unveiled with a flourish just one week earlier in a Rose Garden ceremony.

Tariffs latest: Beijing takes fight to Trump

The stock market rose immediately after the about-face, ending days of losses that have forced older Americans who’ve been sinking their savings into 401(k)s to rethink their retirement plans.

Ahead of Mr Trump’s announcement, some of his advisers had been in a near panic about the bond markets, a senior administration official told Sky News’ US partner network NBC News.

Interest rates on 10-year Treasury bonds had been rising, contrary to what normally happens when stock prices fall and investors seek safety in treasuries.

The unusual dynamic meant that at the same time the tariffs could push up prices, people would be paying more to buy homes or pay off credit card debt because of higher interest rates. Businesses looking to expand would pay more for new loans.

Two of Mr Trump’s most senior advisers, Treasury Secretary Scott Bessent and Commerce Secretary Howard Lutnick, presented a united front on Wednesday, urging him to suspend the tariffs in light of the bond market, the administration official said.

In a social media post, Mr Trump announced a 90-day pause that he said he’ll use to negotiate deals with dozens of countries that have expressed openness to revising trade terms that he contends exploit American businesses and workers.

One exception is China. Mr Trump upped the tariff on the country’s biggest geopolitical rival to 125%, part of a tit-for-tat escalation in an evolving trade war.

Mr Trump reversed course one week after he appeared in the Rose Garden and unveiled his plan to bring jobs back to the United States. Displaying a chart showing the new, elevated tariffs that countries would face, Mr Trump proclaimed: “My fellow Americans, this is Liberation Day.”

It proved short-lived. Markets plunged in anticipation of heightened trade wars, wiping out trillions of dollars in wealth.

Democrats seized on the issue, looking to undercut a source of Mr Trump’s popular appeal: the view that he can be trusted to steer the nation’s economy.

“Donald Trump’s market crash has vaporised a whopping $104,000 from the average retirement account,” Senate Minority Leader Chuck Schumer, said on Wednesday on the Senate floor, hours before the president’s reversal.

The episode laid bare the rifts within Mr Trump’s team of senior advisers as the White House struggled to offer a clear, consistent argument about the duration of the tariffs.

While Mr Bessent seemed open to negotiations, Peter Navarro, a senior trade adviser, appeared to take a more hard-line posture.

Elon Musk, the billionaire Tesla chief executive who has been advising Mr Trump on the government workforce, called Navarro “dumber than a sack of bricks,” while Mr Navarro described Mr Musk as someone who is merely “a car assembler, in many cases”.

But the weeklong drama also underscored the peril of a policymaking process that is often tied to the wishes and vagaries of one man: Donald Trump.

Asked about the dust-up between Mr Musk and Mr Navarro, Republican Senator Lindsey Graham, a golf partner of Mr Trump’s, said: “I don’t think it matters. The only one who matters is Trump.”

Markets tend to favour predictability, as do business leaders deciding where to build new plants. When Mr Trump sets a course, however, there are bound to be detours.

A friend of his who spoke to him in recent days said Mr Trump gave no sign he was about to “back down quickly on this stuff”.

Mr Trump believes other countries trade unfairly and sees tariffs as a tool to make the United States more competitive, the person said.

“He’s very confident it’s going to work for him,” the person added, speaking on condition of anonymity.

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And yet in the run-up to Wednesday’s announcement, Mr Trump and his aides were also hearing from GOP lawmakers and outside allies urging an alternative path.

One was Larry Kudlow, who hosts a show on Fox Business Network and was a senior economic adviser in Mr Trump’s first term.

Mr Kudlow told NBC News that he has had “ongoing” talks with friends in the West Wing about the need to negotiate with other countries before the United States slaps them with tariffs that stand in perpetuity.

Describing Mr Trump’s move Wednesday as “fabulous,” Mr Kudlow added: “Dealmaking is the best thing to do. In the last 48 hours, Trump has gone from non-negotiating to negotiating.

“It’s very clear that Bessent is now the point man on trade. Very clear.”

Anxious GOP lawmakers also weighed in.

Mr Graham said he spoke to Mr Trump at length on Tuesday night and told him he had been hearing from car manufacturers who are worried about how the tariffs would affect their business. BMW operates a plant in Mr Graham’s home state and is one of the companies he said he had spoken to.

Senator John Kennedy, a Republican lawmaker who was also in touch with the administration, said on Tuesday that he planned to have lunch with Mr Bessent. On Wednesday, he told NBC News he was also talking to the White House.

Mr Kennedy likened Mr Trump to the “pit bull who caught the car”. Now, he said, the question becomes: “What are you going to do with the car?”

After more market losses this week, and with pressure mounting from Republicans on Capitol Hill, Mr Trump began having second thoughts.

In his first term, he often viewed the ups and downs of the stock market as a kind of report card on his presidency, celebrating its rise. The downturn had got his attention.

“People were getting a little queasy,” he acknowledged Wednesday on an event with NASCAR racing champions.

“Over the last few days” he began to more seriously consider pausing the additional tariffs, he told reporters later in the day in an Oval Office appearance.

One prospect that intrigued him was personally negotiating new trade deals with the countries looking to get out from under the tariffs, the senior administration official said.

He’d made up his mind. Sitting with Mr Bessent and Mr Lutnick, he crafted the note announcing the 90-day postponement and ending, for the time being, the biggest economic crisis of his young presidency.

“We wrote it from our hearts, right?” Mr Trump said. “It was written as something that I think was very positive for the world and for us, and we don’t want to hurt countries that don’t need to be hurt, and they all want to negotiate.”

The day closed with the Dow Jones Industrial Average up nearly 8%, erasing some – but not all – of the “post-Liberation Day” losses.

Messy as it all may have seemed, his administration insisted that all is unfolding as planned.

“You have been watching the greatest economic master strategy from an American president in history,” White House deputy chief of staff Stephen Miller posted on Wednesday afternoon.