Sanctions could affect Russia’s nuclear contracts

Some of Russia’s international contracts could be affected by Western sanctions, RIA news agency reported the state nuclear corporation Rosatom as saying on Thursday.

Rosatom is building nuclear plants in several foreign countries. RIA, which cited Rosatom chief Sergei Kiriyenko, did not immediately give any details on which of its operations it thinks could be affected.

On Tuesday, Britain’s Department of Energy and Climate Change (DECC) said the country is reviewing its nuclear cooperation agreement with Rosatom because of the crisis in Ukraine.

In November, Britain opened its doors to Russia to build nuclear power plants in the country by signing a pact with Rosatom to help the company prepare to enter the British market.

Western powers have imposed sanctions on Russia for annexing Crimea, formally a Ukrainian peninsula.

Russia’s membership in the G8 was also suspended.

After redrawing Russia’s map to include Crimea, Russian Prime Minister Dmitry Medvedev has ordered Gazprom to amend its investment program for 2014-2016 to include investments in the peninsula, Russian news agencies said on Thursday.

Gazprom, half owned by the Russian government, is the largest extractor of natural gas in the world.

Prime news agency quoted documents from a government meeting as saying that Gazprom’s program should be adjusted to give assurances to Crimea that it will have enough gas to cover domestic demand and can increase gas production by 1.5-2 times.

Following the annexation of Crimea by Russia last week, local authorities have taken control of oil and gas company Chernomorneftegaz and hope to sell it to a Russian company, Reuters reported.

(With Reuters)