US Competes with Russia Over Saudi Nuclear Reactors

US Energy Secretary Rick Perry delivers a speech during the general conference of the International Atomic Energy Agency in Austria, September 18, 2017.Ronald Zak/AP
US Energy Secretary Rick Perry delivers a speech during the general conference of the International Atomic Energy Agency in Austria, September 18, 2017.Ronald Zak/AP
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US Competes with Russia Over Saudi Nuclear Reactors

US Energy Secretary Rick Perry delivers a speech during the general conference of the International Atomic Energy Agency in Austria, September 18, 2017.Ronald Zak/AP
US Energy Secretary Rick Perry delivers a speech during the general conference of the International Atomic Energy Agency in Austria, September 18, 2017.Ronald Zak/AP

It seems that competition will be fierce on building Saudi nuclear reactors, in which the United States shows great interest after Russia has applied an official tender to build them.

US Energy Secretary Rick Perry will travel to London to discuss the Saudi nuclear energy project with his Saudi counterparts, primarily Saudi Arabia's Oil Minister Khalid al-Falih, reported Bloomberg on Tuesday. Perry scrapped a trip to New Delhi to accommodate meetings at the White House this week, creating an opening for him to lead an inter-agency delegation to London.

The administration is considering permitting Saudi Arabia to enrich and reprocess uranium as part of a deal that would allow Westinghouse Electric Co. and other American companies to build nuclear reactors in the Middle East kingdom.

Some American agreements with other countries have prohibited the enrichment and reprocessing of uranium in exchange for the use of nuclear technology, and that had scuttled negotiations for Saudi projects during the Obama administration.

Two weeks earlier, Russian Energy Minister Alexander Novak announced, during a joint news conference with his Saudi counterpart, that the state-owned nuclear company Rosatom had applied for a tender to construct two power plants in Saudi Arabia.

Media reports quoted a source from King Abdullah City for Atomic and Renewable Energy as saying that the kingdom received tenders from five international companies from China, France, US, South Korea and Russia to carry out engineering and construction works of the two nuclear reactors.

Constructions are anticipated at the beginning of next year, with a joint funding from the Saudi government and the executing company. The two reactors are expected to have a capacity of 2.8 gigawatts



Russia is Using Bitcoin, Digital Currencies in Foreign Trade

FILE PHOTO: A woman passes by the Bitcoin Monument after bitcoin soared above $100,000, in Ilopango, El Salvador, December 5, 2024. REUTERS/Jose Cabezas/File Photo
FILE PHOTO: A woman passes by the Bitcoin Monument after bitcoin soared above $100,000, in Ilopango, El Salvador, December 5, 2024. REUTERS/Jose Cabezas/File Photo
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Russia is Using Bitcoin, Digital Currencies in Foreign Trade

FILE PHOTO: A woman passes by the Bitcoin Monument after bitcoin soared above $100,000, in Ilopango, El Salvador, December 5, 2024. REUTERS/Jose Cabezas/File Photo
FILE PHOTO: A woman passes by the Bitcoin Monument after bitcoin soared above $100,000, in Ilopango, El Salvador, December 5, 2024. REUTERS/Jose Cabezas/File Photo

Russian companies have begun using bitcoin and other digital currencies in international payments following legislative changes that allowed such use in order to counter Western sanctions, Finance Minister Anton Siluanov said on Wednesday.

Sanctions have complicated Russia's trade with its major partners such as China or Türkiye, as local banks are extremely cautious with Russia-related transactions to avoid scrutiny from Western regulators, according to Reuters.

This year, Russia permitted the use of cryptocurrencies in foreign trade and has taken steps to make it legal to mine cryptocurrencies, including bitcoin. Russia is one of the global leaders in bitcoin mining.

“As part of the experimental regime, it is possible to use bitcoins, which we had mined here in Russia (in foreign trade transactions),” Siluanov told Russia 24 television channel.

“Such transactions are already occurring. We believe they should be expanded and developed further. I am confident this will happen next year,” he said, adding that international payments in digital currencies represent the future.

Earlier this month, President Vladimir Putin said that the current US administration was undermining the role of the US dollar as the reserve currency by using it for political purposes, forcing many countries to turn to alternative assets.

He singled out bitcoin as an example of such assets, saying that no-one in the world could regulate bitcoin. Putin's remarks indicated that the Russian leader backs the extensive use of cryptocurrencies.