Rosatom's Financial Issues Impact Nuclear Projects in Central Asia
Kazakhstan and Uzbekistan may need to reconsider nuclear energy plans as Rosatom faces significant financial challenges, cutting investments by nearly 50%. The ongoing financial difficulties are primarily attributed to the Kremlin's campaign in Ukraine and international sanctions.
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Rosatom is reducing its investment program by nearly 50% this year due to adverse economic conditions, impacting nuclear projects in Kazakhstan and Uzbekistan. A contract for Kazakhstan's first nuclear power plant, awarded in 2025, is facing delays linked to financing issues, casting doubt on its mid-2030s completion.
In Uzbekistan, a preliminary agreement for small-scale nuclear plants may also be jeopardized, increasing skepticism among officials. Alternatives are available, as Kazakhstan is collaborating with a Chinese company for two nuclear plants, while both nations are exploring partnerships with the U.S. for small modular reactors. The financial strain on Rosatom reflects broader challenges faced by major Russian enterprises.
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