Russia involved in over a third of new reactors being constructed worldwide and even has influence in Europe

Russian nuclear corporation Rosatom, despite the sanctions on the country's economy, is involved in more than one-third of new reactors being constructed around the globe.

Source: Financial Times

Details: "Despite sanctions on its economy, Russia continues to be an unrivalled exporter of nuclear power plants. It is involved in more than a third of the new reactors being constructed around the world at the moment, including in China, India, Iran and Egypt," the FT said.

Before the full-scale invasion of Ukraine, Russia was involved in nearly half of all international agreements concerning nuclear power plant construction, reactor and fuel supply, decommissioning, and waste management. Meanwhile, its main competitors – China, France, Japan, South Korea, and the United States –together accounted for around 40%.

The relationships Russia is building through nuclear projects surpass even long-term contracts for gas supplies through pipelines.

The construction of a nuclear power plant takes about 10 years, and the lifetime of a reactor at new plants is 60 years. Preparations for dismantling, including the removal of radioactive parts, take another 10-20 years and require significant funds.

"This is a very long commitment for a country to have a Russian presence. It is not just the actual construction. It’s the whole ecosystem," says Darya Dolzikova, a nuclear policy programme research fellow at the Royal United Services Institute, the London-based defence and security studies think-tank.

In particular, Russian nuclear giant Rosatom is currently building a US$12 billion nuclear power plant in Bangladesh. The Bangladeshi government claims that the 2,400MW plant, which is expected to begin testing this year, will solve the problem of power shortages and blackouts in the country.

Russia is constructing Türkiye's first 4,800 MW nuclear power plant, which is anticipated to commence electricity generation later this year.

Rosatom has played a vital role in Moscow's efforts to conquer the Global South. Its CEO, Alexei Likhachev, has visited these countries almost as many times in the past two years as he did during the entire period from his appointment in 2016 to 2022.

The company has signed nearly two dozen memoranda of understanding with countries in Africa and Latin America, including Zimbabwe, Mali, Burkina Faso, and Brazil. In Ghana, Russia has begun preparing an application for the construction of the country's first nuclear power plant together with suppliers from the US, China, India, South Korea and France.

This year, Russia and Uzbekistan signed an agreement to build a 330MW small modular reactor.

Russia is not totally isolated, even in Europe. Hungary's 2,400MW Paks nuclear power plant, the construction of which Rosatom won without a tender in 2014, was not affected by the invasion of Ukraine. It is expected to be put into operation in the early 2030s.

Background:

The International Atomic Energy Agency has supported nuclear energy researchers from Iran and has been sending them to Russia for training for years.

Russia is attempting to seize uranium assets in Niger belonging to a French state-controlled company as a further challenge to Western interests in Africa.

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