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EconomyRussia's nuclear industry termed as the new "soft power"

Russia’s nuclear industry termed as the new “soft power”

FT: Russia is gaining influence in the countries of the global South thanks to peaceful atom

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Moscow is currently actively developing the nuclear industry, which helps it establish contacts with countries of the global South and strengthen its influence in the relevant regions. The Financial Times newspaper writes about this.

Journalists noted that at the moment the  Russian Federation accounts for about 50% of all international agreements on the construction of new nuclear power plants (NPPs). In particular, the construction of the country’s first nuclear power plant in Bangladesh, which has a capacity of 2,400 MW.

According to the FT, the cost of the project is about $12 billion. It has become one of the largest infrastructure projects ever implemented in this Asian state. The article emphasizes that Russian leaders could use it to strengthen ties with Dhaka for decades to come.

Observers have noted that for many years, Moscow’s main “soft power” was gas and oil. However due to Western sanctions, the country “lost its usual levers of influence,” which made it possible for the nuclear industry to take the place of fossil fuels.

From the publication, it follows that the Russian Federation is now participating in the construction of reactors in many countries around the world. These include China, India, Iran, Egypt and Turkey.

“The relationships that the Russian Federation is building through nuclear projects exceed even long-term contracts for the supply of pipeline gas,” the article says.

The authors of the material added that in general, the construction of one nuclear power plant takes about 10 years. The service life of the reactor, in turn, reaches 60 years. It takes another 10 to 20 years to prepare for its dismantling.

At the same time, the Russian Federation often adheres to the “build-own-operate” model when it comes to implementing such infrastructure projects. In other words, Moscow provides the foreign partner with all the necessary materials to ensure the operation of the nuclear power plant and even personnel.

Against this background, the newspaper came to the conclusion that today the nuclear industry plays a key role in strengthening the influence of the Russian leadership in the countries of the global South. Recently, the state authorities have signed about two dozen memorandums of understanding with African and Latin American powers, and have also begun preparing for the construction of the first nuclear power plant in Ghana.

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Kiranpreet Kaur
Kiranpreet Kaur
Editor at The Eastern Herald. Writes about Politics, Militancy, Business, Fashion, Sports and Bollywood.

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