Russia's Rosatom Financial Crisis Threatens Nuclear Energy Plans in Kazakhstan and Uzbekistan
Rosatom, the Russian state nuclear entity, is facing severe financial difficulties due to the Kremlin's war in Ukraine and international sanctions. CEO Alexei Likhachev announced a nearly 50% cut to the investment program for 2025 and a 10% reduction in operating costs over 18 months. This casts doubt on Rosatom's agreements to build Kazakhstan's first nuclear power plant on Lake Balkhash and small-scale nuclear plants in Uzbekistan. Both Central Asian nations have alternative partners: Kazakhstan already has a deal with a Chinese company for two plants, and both countries are exploring cooperation with the US on small modular reactors. The financial strain also affects other Russian state giants like Gazprom, whose market cap has fallen to $25 billion.
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