**Russia and Vietnam Agree to Build Nuclear Power Plants**
In a joint statement on May 11, Moscow and Hanoi announced that they have agreed to negotiate and sign agreements to construct nuclear power plants in Vietnam. This move is part of Vietnam’s efforts to support its fast-growing economy by increasing its power generation capacity through the use of nuclear energy.
According to Reuters, the development of these plants will be compliant with strict nuclear and radiation safety regulations. This ensures that the plants are not only beneficial for Vietnam’s economic development but also safe for its citizens. The agreement comes as Vietnam aims to deliver nuclear power generation with its first plant opening between 2030 and 2035.
**A Closer Look at Russia-Vietnam Relations**
The agreement is a continuation of close relations between Moscow and Hanoi, dating back to the Soviet Union’s support for North Vietnam during the Vietnam War. While Hanoi has maintained a neutral stance regarding Russia’s war against Ukraine, this move demonstrates the strong partnership between the two countries.
Russia’s President Vladimir Putin visited Vietnam in June 2024, where he signed over 10 documents with Vietnamese officials, including a memorandum on establishing a nuclear technology center in Vietnam. This visit was part of deeper efforts by Moscow to strengthen its ties with Hanoi.
**Russia Seeks New Trading Partners**
Amidst the full-scale invasion of Ukraine, Russia has sought to find new trading partners willing to accept Russian oil and liquefied natural gas (LNG) exports. The joint statement between the Kremlin and Hanoi also noted that Russia will expand crude oil and LNG exports to Vietnam, while Vietnamese oil companies will have a larger presence in Russia in the coming years.
This move is significant as Western allies continue to cripple Russia’s economy through economic sanctions. By finding new partners willing to accept their oil and gas exports, Russia aims to reduce its reliance on Western markets.
**A New Era of Economic Cooperation**
The agreement between Moscow and Hanoi marks a new era of economic cooperation between the two countries. As Vietnam continues to grow its economy, it seeks to diversify its partnerships by working with various foreign partners to build power plants, including the United States, France, South Korea, and Japan.
This move is part of a broader effort by Hanoi to increase its energy generation capacity while also seeking new economic opportunities through international cooperation.
