Following Russia's invasion of Ukraine, Western nations have imposed significant sanctions on Russian oil and gas exports, but the nuclear energy sector has received minimal sanctions attention. Russia's state-owned nuclear corporation Rosatom and its subsidiaries continue expanding globally by providing financing, technology, and complete nuclear power plant solutions to countries including Bangladesh, Egypt, and Kazakhstan. Rosatom generated $18 billion in overseas revenue in 2024, a 10% year-on-year increase. While this represents a fraction of Russia's oil and gas revenues, the nuclear sector's strategic importance extends beyond financial metrics, as Russian-backed nuclear projects continue construction despite geopolitical tensions.
"Russia has been steadily expanding its global nuclear footprint through its state-owned nuclear corporation Rosatom and its subsidiaries. Russia provides financing or technological support and exports complete nuclear-power-plant solutions from building infrastructure to supplying the core component, the Nuclear Steam Supply System, which drives power generation."
"Russia has a strong interest in keeping this business going because it generates substantial revenue. Rosatom's 2024 Performance report states that revenue from overseas projects increased by 10% year on year to $18 billion (15.5 billion)."
"While Finland canceled a contract with Rosatom shortly after Russia's full-scale invasion of Ukraine in 2022, elsewhere, Russian-backed nuclear projects continue: the Rooppur plant in Bangladesh, El Dabaa in Egypt and Balkhash in Kazakhstan, for example."
#russia-nuclear-sanctions #rosatom-global-expansion #nuclear-energy-geopolitics #ukraine-war-economic-impact
Read at www.dw.com
Unable to calculate read time
Collection
[
|
...
]