Finance

Vietnam signs nuclear cooperation deal with Russia's Rosatom

Published by Global Banking & Finance Review

Posted on January 14, 2025

2 min read

· Last updated: January 27, 2026

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Vietnam signs nuclear energy cooperation deal with Russia's Rosatom - Global Banking & Finance Review
The image captures the signing ceremony of Vietnam's nuclear cooperation deal with Russia's Rosatom, highlighting strengthened energy ties. This agreement emphasizes Vietnam's plans to revive its nuclear energy program, crucial for its economic growth.
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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

Vietnam and Russia Sign Nuclear Cooperation Deal with Rosatom

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)

Key Takeaways

  • Vietnam and Russia signed a nuclear energy cooperation agreement.
  • Rosatom and EVN to collaborate on Vietnam's nuclear sector.
  • Vietnam aims to restart its nuclear program to boost power.
  • Russia to transfer a maritime research vessel to Vietnam.
  • Western sanctions affect financial transactions between Vietnam and Russia.

Frequently Asked Questions

What is the main topic?
The main topic is the nuclear cooperation agreement between Vietnam and Russia, focusing on energy and maritime research.
Why is this agreement significant?
The agreement is significant as it marks Vietnam's efforts to restart its nuclear program and strengthen energy ties with Russia.
What are the challenges faced?
Western sanctions on Russia pose challenges for financial transactions between the two countries.

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