S&P 500 5,235.18 +1.02%EUR/USD 1.0840 +0.21%GBP/USD 1.2710 +0.14%USD/JPY 149.50 −0.18%BRENT $82.40 −0.81%BTC $67,800 −0.21%GOLD $2,341 +0.55%NASDAQ 16,420.55 +0.74%S&P 500 5,235.18 +1.02%EUR/USD 1.0840 +0.21%GBP/USD 1.2710 +0.14%USD/JPY 149.50 −0.18%BRENT $82.40 −0.81%BTC $67,800 −0.21%GOLD $2,341 +0.55%NASDAQ 16,420.55 +0.74%
A daily business newspaper · Founded in 2026

Money Talk

Finance and markets: business, quotes, gold, energy and releases.

Uzbekistan Downgrades Rosatom Role in Nuclear Power Project

Just three months after celebrating the ceremonial groundbreaking for a Russian-built nuclear plant, Uzbekistan is signaling a sharp pivot. President Shavkat Mirziyoyev has moved to sideline Rosatom, opting instead to form a consortium with international engineering firms to oversee the $9.5 billion project and increase local industrial participation.

Uzbekistan Downgrades Rosatom Role in Nuclear Power Project

The shift became apparent on September 2 when the presidential press service issued a detailed project update that conspicuously omitted any mention of the Russian state nuclear entity. Instead, the government announced plans to establish a joint venture to conduct independent assessments and tighten technical oversight. This move suggests that Moscow’s role as the sole architect of the facility is under review as Tashkent seeks to exert more control over the complex construction process.

Financial friction and localization targets appear to be the primary drivers of this cooling relationship. The current plan requires the construction of two 1-gigawatt reactors and two smaller 55-megawatt models, a massive undertaking for which funding remains uncertain. Mirziyoyev has publicly criticized the current level of local involvement, noting that the 21 percent share currently allocated to domestic production is insufficient. He has ordered officials to boost that figure to 30 percent and ensure that national enterprises handle 65 percent of installation work. Amid these tensions, Mirziyoyev has held back-to-back meetings with U.S. Senator Steve Daines, further fueling speculation that Uzbekistan may be exploring alternatives as the Trump administration pushes its own nuclear cooperation agenda in Central Asia.

Share article
TelegramXFacebook

When reusing this material a link to Money Talk is required.

Comments (0)

Leave a comment

No comments yet. Be the first!