Rosatom will be bright spark in Russia's economy

Subject

State nuclear power firm Rosatom will form lead of Russia's foreign economic policy.

Significance

The nuclear power industry is one of the few areas of high-technology in which Russia is a world leader. State-owned Rosatom, whose remit covers Russia's civilian and military nuclear assets, is a global leader across a range of all the stages of the civilian nuclear fuel business. Continued rapid expansion of its export sales, from Asia Pacific to Latin America and parts of Europe, is an important component of Moscow's state-led foreign economic policy.

Impacts

• Domestically, the economic slowdown may hinder Rosatom's plans for expansion of nuclear power.
• The slowdown in the domestic economy also means that export markets will be the short-term focus of Rosatom's activities.
• Rosatom is unlikely to benefit significantly from the proposed official import-substitution drive.
• The company's success on global markets further entrenches Russia's position as an energy superpower.