Finance
Vietnam signs nuclear cooperation deal with Russia's Rosatom
Published by Global Banking and Finance Review
Posted on January 14, 2025
2 min readLast updated: January 27, 2026
Global Banking and Finance Review
Company
Published by Global Banking and Finance Review
Posted on January 14, 2025
2 min readLast updated: January 27, 2026
Vietnam and Russia signed a nuclear cooperation deal, enhancing ties and aiming to boost Vietnam's power generation. Rosatom and EVN will collaborate on nuclear energy.
HANOI (Reuters) - Vietnam and Russia signed on Tuesday an agreement on nuclear energy and several cooperation deals during a visit to Hanoi by Russian Prime Minister Mikhail Mishustin, underlining close ties between the two countries.
Russia's nuclear energy company Rosatom and Vietnam's state-owned power utility EVN agreed to boost cooperation in the nuclear sector, according to a joint document.
Vietnam plans to restart its nuclear energy programme having suspended it for years, as it needs to boost power generation to feed its growing industrial sector, a key driver of its economy.
Russia also agreed to transfer a maritime research vessel, under a deal signed by Vietnam's defence ministry and Russia's science ministry.
"The two sides will review, discuss and find solutions to the limitations in bilateral cooperation," Vietnam's government said on its website, referring to the agreements signed on Tuesday.
Western sanctions imposed on Russia for its military operation in Ukraine have hampered financial transactions between the two partners.
Russia is Vietnam's largest supplier of weapons, but Hanoi has in recent years said it wants to diversify its sources of military hardware.
(Reporting by Thinh Nguyen, Francesco Guarascio, Phuong Nguyen and Khanh Vu; Editing by Martin Petty)
The main topic is the nuclear cooperation agreement between Vietnam and Russia, focusing on energy and maritime research.
The agreement is significant as it marks Vietnam's efforts to restart its nuclear program and strengthen energy ties with Russia.
Western sanctions on Russia pose challenges for financial transactions between the two countries.
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