In a strategic move that reshapes the map of economic and energy alliances in the Caucasus region, the United States and Armenia agreed today to launch a new phase of bilateral cooperation in the field of nuclear energy for peaceful and civilian purposes. This announcement culminates intensive negotiations between the two sides, aimed at strengthening Armenia's energy security and diversifying its energy sources away from traditional dependence on a single source.
Details of the billion-dollar deal in Yerevan
During his current two-day visit to the Armenian capital, Yerevan, US Vice President J.D. Vance and Armenian Prime Minister Nikol Pashinyan signed a joint statement formalizing this massive agreement. The US Vice President revealed details of the financial aspects of the agreement, explaining that it opens the door to initial exports of US technology and equipment worth up to $5 billion .
The agreement was not limited to initial preparations, but included a sustainable future vision, as the American official indicated the conclusion of long-term contracts for the supply of nuclear fuel and the provision of specialized maintenance services with an additional value of four billion dollars , raising the total value of the announced cooperation to about 9 billion dollars, an unprecedented figure in the history of economic relations between the two countries.
What is the (123) nuclear agreement?
During the press conference, the two officials confirmed the successful conclusion of negotiations on the so-called "123 Agreement." This agreement is a cornerstone of U.S. nuclear law, requiring any country wishing to import American nuclear technology to sign it. The agreement ensures that participating countries adhere to strict standards for nuclear non-proliferation and restrict the use of nuclear technology and materials to peaceful, civilian purposes only, reflecting Washington's growing confidence in Yerevan as a strategic partner.
Strategic importance and historical background
This agreement is of paramount importance given Armenia's energy situation. The country has historically relied heavily on the Metsamor nuclear power plant, built during the Soviet era, which supplies a significant portion of the country's electricity needs. With the aging plant and the urgent need to modernize the energy infrastructure, the American involvement represents a technologically advanced alternative that will ensure a continuous electricity supply for decades to come.
From a geopolitical perspective, observers interpret this agreement as a strong indication of Armenia's move to diversify its international partnerships and reduce its exclusive reliance on technology and fuel from traditional regional sources. This cooperation is expected to contribute to strengthening Armenia's economic independence and bringing it closer to Western standards in the field of nuclear safety.
Commenting on the event, Armenian Prime Minister Nikol Pashinyan said: "This agreement will open a new chapter in strengthening the partnership between Armenia and the United States in the field of energy," noting that this cooperation goes beyond the economic dimension to reflect the depth of the growing political and diplomatic relations between the two countries.
