**Vietnam and Russia Deepen Energy Partnership with Nuclear Power Plant Deal**
In a significant move, Vietnam and Russia have committed to expediting negotiations and signing agreements for the joint construction of nuclear power plants. This decision was announced in a joint statement released on May 11, following Vietnamese General Secretary Tô Lâm’s visit to Moscow.
**A Delicate Balance in Ukraine War Support**
Vietnam has maintained a neutral stance on the war in Ukraine since Russia’s full-scale invasion began in 2022. While Vietnamese leaders have expressed respect for Ukraine’s sovereignty and territorial integrity, they have avoided direct condemnation of Russia or significant military or economic support to either side. This approach reflects Vietnam’s desire to maintain good relations with both Russia and other countries.
**Nuclear Ambitions Revived**
The agreement marks a revival of Vietnam’s nuclear ambitions nearly a decade after Hanoi suspended earlier plans. The first nuclear power plants are expected to be operational between 2030 and 2035, with a planned capacity of 6.4 gigawatts. This development will stimulate the Vietnamese economy, create thousands of new jobs, and contribute to training a highly qualified local workforce, according to Russian President Vladimir Putin.
**Diversifying Energy Partnerships**
While strengthening its energy partnership with Russia, Vietnam is keeping its options open. The government has indicated it will pursue nuclear energy discussions with other countries, including Japan, South Korea, France, and the United States. This diversification reflects Vietnam’s desire to expand its power generation capacity and support its growing economy.
**Enhanced Collaboration in Oil and Gas Sectors**
Beyond nuclear cooperation, the two countries have agreed to enhance collaboration in the oil and gas sectors, including arrangements for Russian crude oil and liquefied natural gas deliveries to Vietnam. This energy agreement comes as Vietnam seeks to diversify and expand its power generation capacity to support its growing economy.
**A Complex Web of Relationships**
The energy agreement between Vietnam and Russia is part of a complex web of relationships between the two countries. In June 2024, Putin visited Vietnam, emphasizing the strengthening of strategic ties and proposing Russian investment in Vietnam’s energy sector. Later, in September 2024, Vietnamese President To Lam met with Ukrainian President Zelenskyy to discuss strengthening bilateral relations and agreed to work on increasing trade turnover, particularly in the agricultural sector.
**A Nuanced Approach**
Vietnam’s approach to its relationships with Russia and Ukraine reflects a nuanced understanding of the complex geopolitics at play. By maintaining good relations with both countries, Vietnam can balance its economic interests with its values and principles.
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