Energy

Russia's 2022 invasion of Ukraine illuminated the long profound shadow of nuclear weapons over international security. Russia's nuclear threats have rightfully garnered significant attention because of the unfathomable lethality of nuclear weapons. However, the use of such weapons in Ukraine is only one way—albeit the gravest— that Russia could challenge the global nuclear order. Russia's influence extends deep into the very fabric of this order—a system to which it is inextricably bound by Moscow's position in cornerstone institutions such as the Nuclear Non-Proliferation Treaty (NPT) and the International Atomic Energy Agency (IAEA). From withdrawing from key treaties to stymieing resolutions critical of misconduct, Moscow has demonstrated its ability to challenge the legitimacy, relevance, and interpretations of numerous standards and principles espoused by the West.

With 22 countries pledging to triple global nuclear energy production by 2050 at the COP28 climate meeting in Dubai, sincere prospects for growth in global nuclear energy market is on the table. Nonetheless, these 22 countries largely represent ones that have minimal ties with Russia’s nuclear exports or are seeking to decouple themselves from a current dependency. 

Many other countries are considering the option of nuclear energy, and several will turn to Russia’s state-owned nuclear energy company, Rosatom, to build their new reactors. Since assuming power, Russian President Vladimir Putin has developed Russia’s nuclear industry exports as a key piece of its energy and geopolitical portfolio. 

One country in particular has embraced a partnership with Rosatom: Egypt. In 2015, Russia and Egypt concluded an intergovernmental agreement that led Rosatom to build a $30-billion nuclear power plant near the Mediterranean coastal town of El Dabaa, about 170 kilometers west of Alexandria. With four Russian-designed, 1.2-gigawatt, VVER reactor units, the El Dabaa nuclear power plant is expected to generate more than 10 percent of total electricity production in Egypt and provide a consistent baseload power source for 20 million people.

From July 11-12, 2023, NATO leaders gathered in Vilnius, Lithuania for one of the most significant NATO summits in history. This timely brief by Eric Rosenbach, Grace Jones, and Olivia Leiwant serves as a background piece on Ukraine’s history with NATO, potential future pathways for accession, and the operational impact Ukraine’s NATO membership could have on the alliance. 

Rosatom has had a terrible record in Ukraine, including the annexation and illegal occupation of the Zaporizhzhia nuclear power plant in southeastern Ukraine. The United Kingdom and the United States have applied some sanctions on Rosatom-connected entities, targeting members of company leadership, the sham Zaporizhzhia joint-stock company, and some Russian nuclear research centers. But several European countries are dependent—some entirely—on Rosatom’s products to support their nuclear power plants and energy security profiles. Some European utilities have demonstrated great urgency to develop alternative suppliers to Rosatom, the Russian global company that has largely maintained its dealings in nuclear fuel and construction of new reactors across the European market.

Why do we think Vladimir Putin will not use “the bomb” when there is so much evidence that he will?

For many, integrating “decarbonization” into public policy, corporate and financial strategies has become a requirement, not an option — yet, what happens when the critical link between climate stability and decarbonization breaks?

The Danish Minister of Climate, Energy, and Utilities expressed his hope that the tragic war in Ukraine will help accelerate the clean energy transformation by weaning Europe off Russian gas during a Virtual Forum (view recording here) last Friday (April 8). The event was hosted by the Harvard Project on Climate Agreements (HPCA) and moderated by Robert Stavins, HPCA Director and A.J. Meyer Professor of Energy and Economic Development. 

Capital Choices analyzes the creation of different SWFs from a comparative political economy perspective, arguing that different state-society structures at the sectoral level are the drivers for SWF variation. Juergen Braunstein focuses on the early formation period of SWFs, a critical but little understood area given the high levels of political sensitivity and lack of transparency that surround SWF creation. Braunstein’s novel analytical framework provides practical lessons for the business and finance organizations and policymakers of countries that have created, or are planning to create, SWFs.

Mariana Budjeryn, Research Associate, Project on Managing the Atom, speaks about the Chernobyl nuclear site losing power under Russia control on CNN Hala Gorani Tonight.

Mariana Budjeryn, Research Associate, Project on Managing the Atom, shares details of Russia's shelling of the Zaporizhzhia Nuclear Power Plant in Ukraine on CNN Newsroom.