US ready to invest up to $9 billion in Armenia’s nuclear energy
Economy
The United States and Armenia have signed a civil nuclear cooperation agreement that could pave the way for up to $9 billion in investments and allow US companies to participate in building a new nuclear power plant.
The document was signed by US Vice President J.D. Vance. According to Bloomberg, Washington views the agreement primarily as a strategic move aimed at reducing Armenia’s energy dependence on Russia.
The deal establishes a legal framework for exporting US nuclear technologies, fuel, and services, including small modular reactors. American companies will be able to compete to replace Armenia’s existing nuclear power plant, which was built during the Soviet era.
With Russian support, the current plant’s operation is planned to be extended until 2036. At the same time, Armenian authorities are considering options for constructing a new nuclear facility.
Vance said the agreement would create conditions for contracts between US and Armenian companies. This includes up to $5 billion in initial US exports and an additional $4 billion in long-term support through fuel and technical service contracts.
Prime Minister Nikol Pashinyan said the deal would “open a new chapter” in energy cooperation with the United States and help diversify the country’s energy sources.
Bloomberg notes that Armenia has increasingly signaled its intention to switch to Western reactor technologies, citing safety, diversification, and energy sovereignty concerns. In Washington, the agreement is also seen as part of a broader strategy to strengthen US influence in the South Caucasus.
The deal establishes a legal framework for exporting US nuclear technologies, fuel, and services, including small modular reactors. American companies will be able to compete to replace Armenia’s existing nuclear power plant, which was built during the Soviet era.
With Russian support, the current plant’s operation is planned to be extended until 2036. At the same time, Armenian authorities are considering options for constructing a new nuclear facility.
Vance said the agreement would create conditions for contracts between US and Armenian companies. This includes up to $5 billion in initial US exports and an additional $4 billion in long-term support through fuel and technical service contracts.
Prime Minister Nikol Pashinyan said the deal would “open a new chapter” in energy cooperation with the United States and help diversify the country’s energy sources.
Bloomberg notes that Armenia has increasingly signaled its intention to switch to Western reactor technologies, citing safety, diversification, and energy sovereignty concerns. In Washington, the agreement is also seen as part of a broader strategy to strengthen US influence in the South Caucasus.
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