Tehran, Moscow Ink $25 Billion Deal To Build Four 1,255 MW Nuclear Plants In Iran

Iran and Russia have signed a $25 billion agreement to build four nuclear power plants in Iran, Iranian state media reported on Friday. The deal was announced just hours before the expected return of wide-ranging UN sanctions on the Islamic republic.

According to state television, the agreement was signed between Iran Hormoz Company and Russia’s state nuclear corporation Rosatom. The plants will be constructed in Sirik, Hormozgan province, in southern Iran.

Currently, Iran operates only one nuclear power plant, located in Bushehr in the south, with a capacity of 1,000 megawatts—far less than the country’s growing energy needs.

Each of the new plants is expected to have a capacity of 1,255 megawatts, according to Iran’s official news agency IRNA.

However, no details have been provided regarding the construction timeline.

This agreement comes amid mounting international tensions, as so-called “snapback” UN sanctions are set to be reinstated by the end of Saturday. These sanctions were triggered last month by Britain, France, and Germany, who accused Iran of violating its commitments under the 2015 nuclear deal, officially known as the Joint Comprehensive Plan of Action (JCPOA).

At a Security Council meeting on Friday, Russia and China proposed a draft resolution to extend negotiations for another six months. However, the proposal is not expected to gain enough support to pass.

Western countries have long accused Iran of pursuing nuclear weapons, allegations Tehran strongly denies. The Iranian government insists its nuclear programme is for peaceful, civilian purposes.

The United States withdrew unilaterally from the 2015 nuclear accord in 2018, after which Iran gradually reduced its commitments under the deal. Attempts to revive the agreement through talks were disrupted earlier this year following a series of Israeli strikes on Iranian targets, which briefly involved the United States in a conflict in June.

Iran’s cooperation with Russia on nuclear energy dates back to 1993, when the two countries signed a deal for the construction of the Bushehr plant, after Germany abandoned the project following the 1979 Islamic revolution.

(With inputs from AFP)