&imwidth=800&imheight=600&format=webp&quality=medium "Russia to build nuclear plants in Iran? Tehran, Moscow sign $25 billion deal amid looming UN sanctions")
Iran and Russia have signed a $25 billion agreement to build four nuclear power plants in the Islamic Republic, Iran’s state media reported on Friday (Sep 26). This comes after the United Nations Security Council voted to reimpose UN sanctions on Tehran last week.
“A deal for the construction of four nuclear power plants with a value of $25 billions in Sirik, Hormozgan was signed between the Iran Hormoz company and Rosatom,” state television reported.
Currently, Iran has only one operational nuclear power plant in Bushehr in the south, which has a capacity of 1,000 megawatts – a fraction of the energy needs of the country.
Rosatom, the Russian state nuclear industry company, earlier said on Wednesday that it has signed a memorandum of understanding on the construction of small nuclear power plants in Iran, without specifying the number of plants.
According to Iran’s state news agency IRNA, each plant would have a capacity of 1,255 megawatts. No further details were provided regarding the timeline of the project.
The development comes as the so-called snapback sanctions are set to return by the end of Saturday (Sep 27) after European powers initiated the process in a 2015 nuclear deal, accusing Iran of non-compliance. Britain, France and Germany accused Tehran of failing to comply with its commitments as per the agreement, triggering the sanctions last month.
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On Friday, China and Russia pushed for a draft resolution at the UN Security Council session to allow an additional six months for negotiations. However, it is unlikely to gain enough support to pass.
The Western nations have long accused Iran of seeking to build a nuclear weapon, despite Tehran’s repeated denials. In 2018, the United States pulled out of the 2015 nuclear accord with Iran.
The talks between the US and Iran were ongoing to negotiate a deal on Tehran’s nuclear programme. However, the Israeli strikes in Iran that led to a 12-day conflict in June this year, briefly joined by the US, derailed the progress.
Iran had earlier signed a nuclear energy deal with Russia in 1993 that allowed the construction of the Bushehr plant after Germany pulled out during the Islamic revolution of 1979.
