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Iran and Russia have signed a memorandum of understanding (MoU) to build nuclear Small Modular Reactors (SMR) capable of generating maximum electrical power of 300 Megawatts electric (MWe) to be installed at the planned Iran Hormuz nuclear power plant site with a 5,000 MWe capacity.
President of the Atomic Energy Organization of Iran (AEOI) Mohammad Eslami and Director General of the Russia’s State Atomic Energy Corporation Rosatom Alexey Likhachev signed the MoU in Moscow during World Atomic Week at ATOMEXPO.
“These reactors will play an important role in the development of nuclear technical knowledge and technology and industries related to the manufacturing of power plant equipment and devices in the country,” the AEOI Public Relations Office said in a news release.
“In addition, the achievement of Small Modular Reactors technology can provide new capacity to supply power to large industries and create balance in the country's electricity grid,” read the press release available on the AEOI website.
Eslami said that contracts on constructing the small-size reactors will be signed accordingly to launch the major Iran Hormuz nuclear power plant site in the southern Hormuzgan Province along the Persian Gulf and Oman Sea.
“5,000 MW of nuclear power will be generated at the Iran Hormuzugan site,” he added.
Bushehr's first 1000-Megawatt nuclear power plant
Iran’s Persian Gulf province of Bushehr is hosting its first ever 1000-Megawatt nuclear power plant which was built and connected to the national grid in 2012 based on an agreement with Rosatom.
The Russian company took over the project after the German Siemens company withdrew from its 1974 contract with Iran following the Islamic Revolution which ousted the pro-west shah monarchy in 1979.
Sanctions
In the meantime, Tehran and the European powers are at loggerheads at the United Nations Security Council over a possible return of the nuclear sanctions if they fail to reach an agreement by 28 September.
The European troika of France, Germany and the UK have laid down the three conditions of resumption of nuclear talks with the U.S., return of the inspectors of the International Atomic Energy Agency (IAEA), and access to the stockpiled enriched uranium in return for a limited suspension of the sanctions.
Iran cut off the mediated nuclear negotiations with the United States and suspended the ties with the UN nuclear watchdog after its major civilian nuclear sites were bombed by Israel and U.S. last June.
In Tehran, the Chairman of the Parliamentary Commission on National Security and Foreign Policy Ebrahmi Azizi ruled out direct talks with Washington saying that remarks by the U.S. nuclear negotiator, Steve Witkoff, regarding talks with Tehran are a “lie”.
Witkoff said at the Concordia Annual Summit that the U.S. is interested in negotiating with Iran and added, "We're talking to them (Iran) ... Why wouldn't we?"
The Iranian lawmaker also warned that if the snapback mechanism of UN nuclear sanctions is activated, the Iran-IAEA cooperation deal signed this month in Egypt will be null and void.
The Iranian President Masoud Pezeshkian and Foreign Minister Abbas Araghchi are in New York to take part at the 80th General Assembly of the United Nations with a crucial last-minute working agenda to prevent re-imposition of the UN nuclear sanctions.
Iran’s Parliament is set to discuss withdrawing from the Non-Proliferation Treaty (NPT) on Sunday coinciding the date the pre-2015 sanctions could be re-instated.
Oil prices fell after the U.S. expanded economic sanctions on Iran, as Tehran vowed to retaliate and warned it had tools to respond, raising concerns over potential disruption to regional oil supplies.
Rescuers in Nepal used helicopters on Thursday to scour for hundreds still missing after a wall of mud and rock collapsed into a river on the Himalayan border with China's Tibet, sending catastrophic floods through towns and valleys, killing 162 people.
Secretary of State Marco Rubio told allied foreign ministers Washington will focus on sanctions and other pressure on Iran “for the time being”, Axios reports. Meanwhile, Iran and Oman have resumed talks on a temporary shipping route through the Strait of Hormuz.
Iranian President Masoud Pezeshkian has called for greater economic cooperation among Muslim countries, saying their combined economic weight remains disproportionately small compared with their population, strategic location and resources.
Russia and Ukraine have exchanged 10 prisoners of war each in Belarus, Moscow's Human Rights Commissioner, Yana Lantratova, has said.
The inaugural Silk Road Finance & Technology Forum brought together policymakers, investors and technology companies as Central Asia looks to build a more connected financial system and compete for a bigger share of global fintech investment.
Kazakhstan is discussing support for the Trans-Caspian green energy corridor with the European Commission, as work continues on a project to transmit electricity from Central Asia towards European markets, Kazakhstan's Energy Ministry said.
Uzbekistan's region of Karakalpakstan is developing three cryptocurrency mining facilities and three data centers with a combined investment of $5.1 billion, as the region seeks to attract larger and higher-quality investments.
A restaurant payment with a Visa card in Damascus has become a symbol of Syria’s reconnection with the global financial system.
The Silk Road Finance & Technology Forum will bring more than 6,000 policymakers, investors and technology leaders from 74 countries to Tashkent, as Central Asia seeks a bigger role in the global fintech landscape.
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