Russia to Launch World's First Closed Fuel Cycle Nuclear Power System by 2030.

Russia plans to launch the world's first nuclear power system with a closed fuel cycle by 2030, which will reuse spent fuel and reduce uranium supplies. President Vladimir Putin announced the project at the World Atomic Week forum, emphasizing Russia's commitment to assisting partners in building sovereign nuclear industries rather than fostering dependency. The closed-loop system aims to nearly eliminate radioactive waste accumulation and resolve the issue of uranium availability.

Russia and Iran have signed a memorandum of understanding on the construction of small nuclear power plants in Iran, according to the Russian state nuclear corporation Rosatom. The agreement was signed by Rosatom chief Alexei Likhachev and Iran’s top nuclear official, Mohammad Eslami, on Wednesday at a meeting in Moscow. Rosatom described it as a “strategic project” Russia, Iran sign nuclear power plants deal as sanctions loom^[1].

The development comes amid looming sanctions on Iran, after the United Nations Security Council voted not to permanently lift economic sanctions on Iran over its nuclear programme. This means sanctions will return by September 28 if no significant deal is reached beforehand. Russia was among four nations that voted to stop the sanctions from being reintroduced Russia, Iran sign nuclear power plants deal as sanctions loom^[1].

Iran has been suffering from electricity shortages during high-demand months and currently operates only one nuclear power plant, in the southern city of Bushehr. The new agreement aims to construct eight nuclear power plants, with Tehran seeking to reach 20GW of nuclear energy capacity by 2040. The project is part of Iran’s diplomatic push to avert new sanctions over its nuclear programme Russia, Iran sign nuclear power plants deal as sanctions loom^[1].

The agreement follows Iran’s pushback against the UNSC vote, accusing the European trio (the United Kingdom, France, and Germany) of abusing the dispute mechanism contained in the 2015 Treaty on the Non-Proliferation of Nuclear Weapons (NPT). Iran has repeatedly denied pursuing nuclear weapons but affirmed its right to peacefully pursue nuclear energy Russia, Iran sign nuclear power plants deal as sanctions loom^[1].

Meanwhile, the nuclear sector has seen significant growth, with Centrus Energy (LEU) stock surging over 500% year-on-year and hitting a new 52-week high of $265.48 per share. The company announced a multi-billion-dollar expansion of its uranium enrichment plant in Piketon, Ohio, adding 1,000 construction jobs and 300 operations jobs. This expansion aims to dramatically boost capacity for Low-Enriched Uranium (LEU) and High-Assay Low-Enriched Uranium (HALEU) Centrus Energy’s Multi-Billion Nuclear Bet Pays Off – LEU Stock Skyrockets on Uranium Boom^[2].

The global uranium market and nuclear energy sentiment have turned sharply positive, with uranium prices jumping above $80/lb. The U.S. Energy Secretary Chris Wright signaled plans to boost America’s strategic uranium reserve, aiming to reduce reliance on Russian fuel. This policy momentum has ignited uranium stocks and underscores bipartisan support for nuclear fuel security Centrus Energy’s Multi-Billion Nuclear Bet Pays Off – LEU Stock Skyrockets on Uranium Boom^[2].

Russia’s war in Ukraine has also galvanized Western nuclear policy. Russia historically supplied ~20–30% of U.S. enriched uranium, but exports are now in question. The U.S. banned Russian uranium imports in 2024, and Moscow retaliated by halting exports to the U.S. However, the U.S. government waived restrictions to allow Centrus to continue importing limited Russian LEU through 2027 to fulfill existing customer contracts Centrus Energy’s Multi-Billion Nuclear Bet Pays Off – LEU Stock Skyrockets on Uranium Boom^[2].

In a separate development, Russia plans to launch the world's first nuclear power system with a closed fuel cycle by 2030. This system aims to reuse spent fuel and reduce uranium supplies, nearly eliminating radioactive waste accumulation and resolving the issue of uranium availability. President Vladimir Putin announced the project at the World Atomic Week forum, emphasizing Russia’s commitment to assisting partners in building sovereign nuclear industries rather than fostering dependency .