US Vice President J.D. Vance, during a visit to Yerevan, signed a strategic cooperation agreement in the field of civil nuclear energy, which provides for investments of up to $9 billion. This step is aimed at replacing the outdated Soviet Metsamor NPP with modern American small modular reactors. This was reported by Bloomberg, writes UNN.
Details
The signed document, known as "Agreement 123," creates the legal basis for the export of American nuclear technologies and fuel to Armenia. The plan provides for two stages of financing: an initial $5 billion for equipment exports and an additional $4 billion for long-term technical maintenance.
This will pave the way for American and Armenian companies to conclude agreements on civil nuclear projects. This means up to $5 billion in initial US exports, plus an additional $4 billion in long-term support through fuel and maintenance contracts.
The Vice President emphasized that this project is beneficial for both sides, as it strengthens the energy security of the United States and Armenia, while creating new jobs. The agreement effectively opens the way for the displacement of Russian "Rosatom", which currently fully controls the operation of the Metsamor NPP and fuel supplies, providing about 40% of the country's electricity needs.
Armenia's Strategic Turn and Regional Context
Prime Minister Nikol Pashinyan's government views the transition to Western nuclear technologies as a strategic decision to ensure energy sovereignty. Against the backdrop of the signing of energy agreements, the parties also discussed strengthening defense cooperation, including Armenia's acquisition of a batch of American drones. Speaking alongside Vance, Pashinyan stated that the agreement would open a "new chapter" in energy ties and help introduce "safe and innovative" technologies in the country.
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The nuclear agreement is part of Washington's broader strategy to strengthen its influence in the South Caucasus and support stability in the region. The Vice President's visit comes against the backdrop of the promotion of "Trump's Route for International Peace and Prosperity" (TRIPP) - a transport corridor that is to connect Azerbaijan with its exclave Nakhchivan through Armenian territory. On Tuesday, Vance will continue his tour with a visit to Baku to discuss defense and energy issues with the Azerbaijani leadership.
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