Iran, Russia ink $25 bln deal to build nuclear plants in Iran: IRNA

TEHRAN: Iran has signed a $25 billion agreement with Russia to construct four nuclear power plants in the Islamic republic, state media reported Friday, just hours before the expected reimposition of sweeping UN sanctions on Tehran.

According to Iranian state television, the deal — signed between Iran Hormoz Company and Russia’s state-owned nuclear agency Rosatom — covers the construction of four plants in Sirik, Hormozgan province.

Each unit will have a capacity of 1,255 megawatts, though no timeline for completion has been disclosed.

Iran currently operates only one nuclear power plant — the 1,000-megawatt facility at Bushehr in the south — which produces just a fraction of the country’s energy needs.

The announcement coincides with the imminent return of “snapback” sanctions triggered by Britain, France and Germany, who accuse Tehran of breaching its obligations under the 2015 nuclear accord. The sanctions are expected to take effect by the end of Saturday.

Read more: Iran’s Supreme Leader says will continue uranium enrichment despite pressure

At a UN Security Council session on Friday, China and Russia proposed a draft resolution to extend negotiations for another six months, but it is unlikely to receive sufficient support to pass.

Western powers have long accused Iran of pursuing nuclear weapons, an allegation Tehran denies, insisting its program is strictly for civilian purposes.

The United States withdrew from the nuclear agreement in 2018, prompting Iran to gradually roll back its commitments.

Talks aimed at reviving the deal were underway but were derailed by unprecedented Israeli strikes on Iran in June that sparked a 12-day conflict briefly involving the US.