Tehran and Moscow have signed a $25 billion deal to establish nuclear power plants in Iran amid growing threats from the European powers to reimpose sanctions on Tehran, according to Arab News.
Both nations plan to build four nuclear power plants in the Kuhestak district of Sirik region in Hormozgan Province on a 500-hectare plot of land.
Each plant will have a capacity of 1,255 megawatts, though no details were provided on the timeline.
“A deal for the construction of four nuclear power plants with a value of $25 billion in Sirik, Hormozgan was signed between the Iran Hormoz company and Rosatom,” state television said.
The agreement comes in a crucial time as France, Britain and Germany will reimpose so-called snapback sanctions on Tehran by the end of Saturday.
Moreover, they accused Iran of falling to abide by a 2015 deal with world powers which prevents Tehran from developing a nuclear weapon.
On Friday, both Russia and China introduced a draft resolution during a Security Council session, proposing a six-month extension for talks. However, the decision is unlikely to secure enough support for approval.
Nuclear Talks
Iran and the US held five rounds of nuclear talks before Israel targeted Iranian nuclear facilities on June 13.
However, these talks faced key stumbling blocks such as uranium enrichment on Iranian soil, a step met with utter rejection by European powers which claimed that Tehran is enriching uranium for unpeaceful purposes.
The imposition of sanctions would have critical consequences on Tehran where the economy already struggles with crippling sanctions reimposed since 2018 after Donald Trump withdrew from the pact during his first presidential term.
Related Topics:
UN Security Council to Vote on Iran Sanctions
Iran Brands US Desire for Nuclear Diplomacy as ‘Deception’
Iran Will Overcome any Reimposed UN Sanctions: President
