Vietnam and Russia have signed an agreement on nuclear energy along with several other cooperation agreements, as reported by Reuters. The signing took place during the visit of Russian Prime Minister Mikhail Mishustin to the capital of Vietnam, Hanoi.
The move marks a major step for Vietnam as it tries to restart its nuclear energy program after a period of suspension.
The Southeast Asian country is looking to increase power production to support its expanding industrial sector, which is at the heart of economic growth.
Russia's state atomic power agency Rosatom and Vietnam's state power utility EVN have agreed to strengthen their nuclear cooperation.
The details of the agreement were part of a joint document explaining the cooperation contracts that were signed. These have not been released to the public.
Despite the US imposing several sanctions on Rosatom's subsidiaries and key officials – with the latest measures announced in early January 2025 by the US State Department – Vietnam continues to strengthen its ties to Moscow.
In response to the sanctions, Rosatom has condemned the actions adopted by the US, saying that they are baseless and illegal and that they represent a form of unfair competition from unfriendly states.
As part of their deepening partnership, Moscow has authorized the transfer of a marine research vessel to Vietnam, under an arrangement between Vietnam's defense ministry and Russia's science ministry.
The Vietnamese government indicates on its website that the two parties would evaluate, discuss and seek solutions to the challenges in bilateral cooperation, referring to the agreements which was signed.
But Western sanctions imposed on Russia as a result of its military activities in Ukraine have complicated financial transactions between Hanoi and Moscow, presenting challenges to future cooperation.
In a separate development, Poland has taken a big step towards it establishing its first nuclear power plant by approving financing of up to 60.2bn zlotys ($14.7bn).
The funding is vital for the project, which is still awaiting approval from the European Union.
“Vietnam signs nuclear energy development deal with Russia” was originally created and published by Power technologya brand owned by GlobalData.
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