TEHRAN: Iran and Russia have signed a memorandum of understanding (MoU) worth $25 billion aimed at expanding cooperation in the nuclear energy sector, deepening strategic ties between the two countries and advancing a range of joint energy projects.
The Iran-Russia nuclear cooperation agreement focuses on strengthening Iran’s nuclear infrastructure through collaboration with Russia’s state nuclear energy sector and expanding long-term cooperation in peaceful nuclear energy development.
The announcement was made by Iranian Ambassador to Russia Kazem Jalali during an online conference held in Moscow, where he outlined several ongoing and planned projects between the two countries.
According to Jalali, one of the key areas of cooperation is the expansion of the Bushehr Nuclear Power Plant. While the existing facility is operational, additional units are currently under construction as part of efforts to increase Iran’s nuclear energy capacity.
The ambassador also highlighted the Hormoz Project, describing it as Iran’s largest nuclear initiative with an estimated value of $25 billion. The project involves cooperation between Iran’s private sector and Russia’s state nuclear energy company and is intended to support the development of peaceful nuclear energy infrastructure.
Focus on future nuclear projects
Jalali said discussions are also underway regarding the development of small-scale nuclear power plants, expressing optimism that these projects could move into implementation in the future.
The agreement reflects growing cooperation between Tehran and Moscow in the energy sector, particularly as both countries seek to expand long-term strategic and economic partnerships.
Broader economic cooperation
Beyond nuclear energy, Iranian officials pointed to increasing collaboration with Russia in areas including energy transit, trade and regional connectivity.
Jalali noted ongoing discussions regarding the transfer of Russian natural gas through Iran and the expansion of trade links with Eurasian countries.
He also thanked Russia for its support in international forums and emphasized the importance of strengthening cooperation in transportation, advanced technologies, energy development and broader economic initiatives.
The agreement marks one of the largest publicly announced cooperation frameworks between the two countries in the energy sector and underscores their efforts to expand bilateral economic engagement.
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