- Russia and the US discuss nuclear-powered data centers despite continuing sanctions
- Putin's envoy expects further economic agreements following the Russian diesel deal
- Small nuclear reactors emerge as a potential focus of US-Russia cooperation
Russia and the United States are discussing several joint projects, including data centers powered by small nuclear reactors, following a recent diesel supply agreement.
Kirill Dmitriev, an investment envoy of President Vladimir Putin, disclosed the talks on Friday at the Russian Energy Week conference in Moscow.
There are no details on locations, financing, timelines or participating companies, but further initiatives are expected to be announced soon.
Sanctions stand between the two governments
Dmitriev, who heads the Russian Direct Investment Fund, has long pushed for deals on minerals and energy and takes part in peace negotiations.
He said American sanctions create serious obstacles and called the Graham Act, which Trump signed in September, a "misguided" law.
The legislation seeks to cut Moscow's income from energy sales using tariffs and penalties, yet Dmitriev said both governments are considering other economic cooperation.
"There are so many layers of sanctions piled on top of one another that everyone has become confused; it's difficult now to figure out how to navigate a way out of this situation," Dmitriev said.
"Brainstorming sessions are already under way regarding how to lift these sanctions - that is exactly what the United States is currently working on."
Diesel deal – the starting point
Trump recently announced a diesel arrangement that would bring Russian fuel to American and global buyers and lower prices before November's midterm elections.
The arrangement requires lifting certain penalties Trump himself placed on Russian crude, and Ukrainian President Volodymyr Zelenskiy has sharply condemned it.
Washington's Treasury Department asked the Russian sovereign fund to help settle complicated payment questions tied to the diesel deal.
Dmitriev said the Russian Direct Investment Fund will ensure payments are efficient, though he supplied no figures on the value of the diesel deal.
The Kremlin has complained that Washington made any new agreements dependent on a peace deal for Ukraine, which remains out of reach.
Despite Zelenskiy’s opposition to the Diesel deal, Washington is focused on moving on with the deal — abandoning the Ukraine clause approach.
“The ice has, in fact, begun to break. We are effectively implementing projects with the United States of America at this very moment...” Dmitriev added.
Russia says its cooperation with Washington will continue until its “special military operation” in Ukraine ends.
The transcontinental country has a decent base for small nuclear reactors as it already controls two 35 MW small reactors commissioned in 2020.
President Vladimir Putin said Russia plans to build 38 nuclear power units over two decades to expand the computing capacity that artificial intelligence requires.
With reactors running and designs underway, Russia brings the technology to the table, and the open question is which projects both sides choose.
Via Reuters
