US and Armenia sign 123 nuclear cooperation agreement
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US Vice President JD Vance and Armenian Prime Minister Nikol Pashinyan completed negotiations and agreed a '123 Agreement' on nuclear cooperation on Monday.
Why it matters
The agreement is a 123 Agreement that enables the United States to license nuclear technology and equipment to other countries. It specifically relates to small modular reactors. It establishes up to $5 billion in initial US exports and an additional $4 billion in longer-term fuel and maintenance contracts. The agreement does not bind Armenia to purchase a US reactor.
Implications
- • Export transactions under the agreement are subject to US 123 Agreement licensing requirements.
- • Financial exposure for covered US exports is capped at $5 billion for initial exports and $4 billion for fuel and maintenance contracts.
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Topics
International Affairs Diplomacy Policy & Regulation Regulatory Actions Nuclear Energy Transition