How important is nuclear technology to Russia?

The phrase 'great-power confidence comes from the nucleus' captures the essence. A robust nuclear industrial system and capabilities constitute Russia’s strategic confidence. So, what exactly does Russia’s nuclear arsenal—both industrial and technological—consist of? In October 2022, Rosatom (the State Atomic Energy Corporation of Russia) released its 2021 Annual Report—the 13th such report since its inaugural publication covering 2009. According to the report, Rosatom’s total revenue in 2021 rose by 19.9% year-on-year compared to 2020; annual nuclear power generation hit a new record high, increasing by 3.1% over 2020; the number of overseas nuclear power units under construction and its global share of separative work units (SWU) capacity both remained the world’s largest; and its natural uranium output and nuclear fuel market share continued ranking among the world’s top. As a globally leading large-scale nuclear industrial conglomerate, Rosatom’s key development trends merit close attention. Total revenue for 2021: 1.45 trillion rubles (approx. RMB 161.1 billion) Rosatom’s total revenue in 2021 amounted to 1.45 trillion rubles (approx. RMB 161.1 billion), up 19.9% year-on-year—driven primarily by increased revenues from nuclear power plant construction projects, electricity and heat generation, and sales of uranium products and enrichment services. In terms of assets, Rosatom’s total assets stood at 5.22 trillion rubles (approx. RMB 580 billion) in 2021, up 10.5% year-on-year; adjusted free cash flow reached 338 billion rubles (approx. RMB 37.5 billion), up 0.9% year-on-year; semi-fixed cost per unit was 24.8%, down 7.8 percentage points year-on-year; the total value of overseas orders across their full lifecycle amounted to 205.4 billion rubles (approx. RMB 22.8 billion), up 0.9% year-on-year; average monthly employee salary was 96,200 rubles (approx. RMB 10,688), up 6.9% year-on-year. In 2021, Rosatom continued actively fulfilling state-mandated tasks, achieving a 100% completion rate. Nuclear power generation in Russia totaled 222.4 billion kWh in 2021—another record high, up 3.1% year-on-year—and accounted for approximately 19.7% of Russia’s total electricity generation. The Leningrad NPP Unit 2, equipped with a VVER-1200 reactor, entered commercial operation. A total of 35 overseas nuclear power unit construction orders Overseas nuclear power plant construction: Belarusian NPP Unit 1 commenced operation; Unit 2 began loading nuclear fuel. Construction commenced on Units 5 and 6 of the Kudankulam Nuclear Power Plant in India. Nuclear island concrete pouring began for Tianwan NPP Unit 7 and Xudabao NPP Unit 3 in China; construction permits for the nuclear islands of Tianwan NPP Unit 8 and Xudabao NPP Unit 4 were issued. Construction commenced on Akkuyu NPP Unit 3 in Turkey; the construction permit for Unit 4 was issued. In 2021, Rosatom held a total of 35 overseas nuclear power unit construction orders—down one unit from 2020, yet still the highest globally. Annual uranium production: 7,100 tonnes—second globally Nuclear fuel cycle: ARMZ (Atomredmetzoloto), Rosatom’s state-owned uranium resources company, and Uranium One jointly produced 7,100 tonnes of uranium in 2021—15% of global output—ranking second worldwide. Rosatom’s 2021 SWU capacity accounted for 38% of global capacity—up two percentage points year-on-year—maintaining its position as the world’s largest. Its 2021 nuclear fuel supply volume represented 17% of global supply—ranking third worldwide.

A solution to China’s access-to-sea issue has emerged: Russia has proactively invited China to build a port.

An opportunity to resolve China’s long-standing challenge of gaining maritime access has now arisen. According to reports from Russia’s Sputnik News Agency, Russia’s Dero Group plans to jointly develop a logistics terminal with China. Upon completion, this facility will provide China with an exceptionally advanced warehouse located within Russian territory. Regarding this project, Russia is making a substantial investment and holds high expectations for its impact—specifically, it aims to significantly expand bilateral import-export trade, facilitate deep-water container shipping via seaports, and thereby strengthen economic ties with China. For China, this terminal may help resolve the persistent issue of maritime access for Northeast China. (Russia and China plan to build a super logistics terminal) Inviting China to participate is Russia’s correct choice. According to Dero Group, discussions with Chinese counterparts are currently underway. The specific implementing entity has already been announced: a joint venture formed by Shandong Port Group (China) and Russia’s Dero Group will be responsible for this major project. In fact, Russia’s proactive invitation to China to co-develop the terminal reflects a thorough analysis of the current geopolitical landscape. First, prior to the Russia-Ukraine conflict, Russia maintained relatively sound diplomatic relations with Europe and engaged in extensive economic cooperation—but such stability ran counter to U.S. interests, contributing to the outbreak of the Ukraine crisis. Since the onset of the conflict, Western countries have continuously intensified pressure on Russia—even reaching a peak at certain stages—making enhanced trade partnership with China a top priority for Russia. (President Putin stated that China and Russia enjoy a strategic partnership, and cooperation with China is a top priority for Russia.) Second, Russia’s vast territory and abundant natural resources necessitate effective utilization—and cooperation with China represents the optimal path forward. Unlike Europe, China harbors no prejudice against Russia and is far less susceptible to external manipulation or provocation, rendering it Russia’s most reliable economic and trade partner. Third, the deepening strategic partnership between China and Russia signals a new phase in bilateral relations. Russian Prime Minister Mikhail Mishustin even placed a direct phone call to Chinese officials, expressing Russia’s strong desire to enhance cooperation. Judging by recent developments, Russia has indeed demonstrated genuine sincerity. Against the backdrop of rapidly advancing China-Russia relations, Russia’s cooperation with China must transcend mere financial transactions—it should also earnestly consider China’s actual needs.

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