EU reporter: Russian bear stealth attack for control of Ukraine nuclear power-generating company
13:48, 16 August 2016

EU reporter: Russian bear stealth attack for control of Ukraine nuclear power-generating company

Under cover of the aggressive radio noise and propaganda created by Russia’s sabre rattling in the Baltics, Crimea and eastern Ukraine this weekend, Russia is trying by stealth to take over control of Energoatom, the state-owned nuclear power generating company in Ukraine

13:48, 16 August 2016

It is no secret that Russia has coveted this jewel in Ukraine’s industrial crown for many years. Control would give it not only strategic advantage in dictating energy policy to Ukraine, as Energoatom produces more than half of Ukraine’s electric power and is vital for Ukraine’s energy security during the winter. It would also enable Moscow to reverse the steps taken by the current management of the company to diversify supply of nuclear fuel, to build nuclear waste storage facilities in Ukraine, working with Western suppliers such as Holtec and Westinghouse to make Ukraine energy independent.

Related: Westinghouse not to build nuclear fuel plant in Ukraine

Nothing would suit Russia better than to return to the old soviet crony style of doing business with monopolistic supply of Russian materials and anti-competitive services from Russian contractors, rewarded with handsome commissions to the corrupt intermediaries in the Ukrainian State Administration that they like to do business with.

Related: Crimea authorities accuse Ukraine of preparation of new ‘sabotage’

The stakes are big, because not only are these huge multi-billion dollar contracts in their own right, but Ukraine has successfully demonstrated to other EU countries which themselves have Russian built nuclear reactors that there is an alternative to relying 100% on the supply of nuclear fuel from Russia. By opening an industrial front in parallel to its military threats, Russia could win this commercial battle without firing a single shot.

Read the full article here.

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