SOFX ALERT
Russia Races to Outflank China in Middle East Nuclear Technology Market

Russia Races to Outflank China in Middle East Nuclear Technology Market

As China enters the market for nuclear power plant construction in post-sanctions Iran, Moscow is racing across the Middle East to develop new export markets for Russian nuclear technology. On July 22, the head of Atomic Energy Organization of Iran (AEOI) announced that Beijing and Tehran have agreed to China’s construction of two nuclear power plants on Iran’s southern coast. However the loss to Beijing of some of its market share in nuclear technology exports to Iran has not caught Moscow flatfooted. While world attention was focused on the negotiations between Iran and the P5+1 nations during the first half of 2015, one of those P5 nations – Russia – was scrambling across the Middle East to sign nuclear plant construction contracts with Iran’s Sunni rivals. In addition to seizing upon a good business opportunity among Iran’s regional rivals, Russia was also attempting to outflank another P5 nation, China, before Beijing emerges as Moscow’s rival in the Middle East market for civil nuclear technology.

Source: Russia Races to Outflank China in Middle East Nuclear Technology Market | The Diplomat