De-dollarization grows as Russia builds nuclear plants while under sanctions. Boris Titov, the Kremlin’s special representative for international cooperation in sustainability, states that Russia aims to “cement its position as one of the biggest builders of new nuclear plants in the world.” This shapes new trade paths, and we’re curious how it will evolve.
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Exploring How Russia’s Nuclear Strategies to Bypass Tariffs Could Drive De-Dollarization and Shift Global Trade
Russia’s Nuclear Expansion Strategy
The De-dollarization process has many stages. Until now, the process has reached 54 countries, and through nuclear power, the numbers will most likely rise. Russia builds in six countries: Bangladesh, China, Egypt, India, Iran, and Turkey. “We are building more than 10 different units around the world,” Titov told the Financial Times. This helps dodge tariffs during Russia’s sanctions caused by the war in Ukraine.
Financial Mechanisms and Economic Impact
Countries pay Rosatom just 10% at first, and they pay the rest slowly with a very low interest. This global trade plan works, at least in theory. Outside deals have earned Russia $16.2 billion in 2023, up from $11.8 billion in 2022. The impact of de-dollarization is also shown in these numbers.
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Strategic Partnerships and Global Influence
De-dollarization goes beyond setting up a few power plants. Darya Dolzikova, a nuclear policy researcher at RUSI, notes: “This is a very long commitment for a country to have a Russian presence. It’s not just the actual construction. It’s the whole ecosystem.” Russia now works with Zimbabwe, Mali, and Brazil to drive de-dollarization further.
Western Response and Market Dynamics
The US banned Russian uranium due to Russian sanctions, while Hungary still buys it. This changes global trade and speeds up the de-dollarization process.
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“By 2030, Rosatom’s total revenue is expected to reach over $56bn, more than double the current level,” says company reports. This revenue reflects the ongoing de-dollarization efforts. Nuclear deals reshape world trade.