Russia is positioning itself as a global leader in nuclear power plant construction, aiming to meet rising global energy demand fueled by advancements in artificial intelligence and economic growth in developing markets. Moscow’s strategy to bolster its global influence includes constructing more than 10 nuclear reactors abroad, in countries such as Bangladesh, China, Egypt, India, Iran, and Turkey. This effort underscores Russia’s intention to expand its footprint in the nuclear energy sector, even as its oil and gas industries face significant Western sanctions following the invasion of Ukraine.
A Strategic Expansion in Energy
Boris Titov, the Kremlin’s special representative for international cooperation in sustainability, emphasized Russia’s ambition to remain a dominant player in the global nuclear market. “We need a lot of energy, and we cannot achieve this without nuclear power,” Titov stated, highlighting the clean and safe attributes of nuclear energy. The International Atomic Energy Agency projects that global nuclear generating capacity could soar by 155% to 950 gigawatts by 2050, driven by increased demand for low-emission energy solutions.
Russia’s nuclear portfolio spans 54 countries, encompassing reactor construction, fuel supply, and other services. The Norwegian Institute of International Affairs noted in a 2022 article that Russia was involved in more than one-third of the new reactors being constructed worldwide. Recent projects include the Paks 2 plant in Hungary, facilities in Bangladesh and Turkey, and plans for small modular reactors in Uzbekistan. Russia has also signed agreements with nations such as Burkina Faso, further expanding its reach.
Competing Interests and Geopolitical Tensions
Western powers have sought to curtail Russia’s dominance in the nuclear sector. In May, the U.S. banned imports of Russian-enriched uranium, while many Eastern European countries have pivoted to alternatives like Westinghouse fuel to reduce dependence on Moscow. The EU aims to eliminate Russian fuel imports by 2027, though Hungary and Slovakia remain staunchly opposed to such measures. Hungarian Prime Minister Viktor Orbán and Slovakian Prime Minister Robert Fico have both defended their countries’ reliance on Russian nuclear technology, citing energy security concerns.
Despite geopolitical tensions, analysts suggest fears of a nuclear fuel shortage akin to Europe’s 2022 gas crisis may be overstated. Rosatom, Russia’s state-owned nuclear energy corporation, has a vested interest in maintaining reliability, according to EU officials. However, sanctions targeting financial conduits like Gazprombank have introduced complexities in energy transactions, though exemptions remain for specific projects like Hungary’s Paks 2 plant.
The Global Market for Nuclear Energy
Developing nations increasingly view nuclear energy as a viable solution to meet clean energy demands. Malaysia, for instance, is exploring nuclear power as part of its long-term energy strategy. Nik Nazmi Nik Ahmad, Malaysia’s minister for natural resources and environmental sustainability, confirmed discussions with global industry leaders on potential projects.
The U.S. has expressed concern over countries turning to Russia or China for nuclear technology, framing the issue as a matter of global competitiveness. Speaking at the COP29 climate summit in Azerbaijan, Jake Levine, senior climate and energy director at the U.S. National Security Council, underscored the geopolitical stakes in nuclear energy development.
A Balancing Act in Energy Dominance
Russia’s sustained push in the nuclear sector reflects a strategic pivot to safeguard its influence in the global energy landscape. With demand for cleaner energy sources on the rise, Moscow sees nuclear technology as a cornerstone of its economic and geopolitical agenda. However, as Western governments intensify efforts to counter Russian dominance, the race to lead the future of nuclear energy remains fraught with competition and challenges.
