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Rosatom to cut nuclear investment amid funding strain and sanctions
Rosatom said it will cut its investment program by nearly 50% and target 10% operating cost reductions within 18 months, raising new questions about Central Asian plant timelines.
Kazakhstan and Uzbekistan may need to revisit nuclear development plans after Rosatom, the Russian state nuclear company behind projects in both countries, said it is facing major financial difficulties. OilPrice reports that Rosatom chief Alexei Likhachev announced the company will cut its investment program by nearly 50% this year due to “poor economic conditions.”
Likhachev also said Rosatom will work to slash operating costs by 10% within the next 18 months, alongside efforts to abandon some projects or shift deadlines. Reuters is cited as reporting that the company is guided by efficiency goals through 2030, aiming for more profit and revenue per ruble of investment.
The company’s strain has been widely linked to Russia’s ongoing campaign in Ukraine, which has reduced Russia’s financial strength, and to international sanctions that have hampered Rosatom, according to the report. Likhachev did not specify which projects are being cut or delayed.
In Kazakhstan, Rosatom was awarded a contract in 2025 to build the country’s first nuclear power plant on the shores of Lake Balkhash. Since then, the project has faced delays and disputes, and the announcement adds further uncertainty about whether a tentative mid-2030 completion deadline can be met.