The United States and Russia are discussing joint projects that could include data centers powered by small nuclear reactors, according to Kirill Dmitriev, head of Russia’s Direct Investment Fund and an investment envoy for President Vladimir Putin.
Dmitriev disclosed the talks Friday at Russian Energy Week in Moscow, after a recent agreement on diesel supplies. He said further initiatives could be announced soon, but gave no details on project locations, financing, timelines or participating companies.
The discussions come amid US sanctions on Russia. Dmitriev said the restrictions create serious obstacles to economic cooperation and criticized the Graham Act, which the source says Trump signed in September and which seeks to reduce Moscow’s energy revenue through tariffs and penalties. He also said both governments are considering other forms of cooperation.
The diesel arrangement would bring Russian fuel to US and global buyers and lower prices before the November midterm elections, according to the source. It requires lifting certain penalties on Russian crude. Ukrainian President Volodymyr Zelenskiy has condemned the arrangement. Dmitriev said Russia’s fund would help make payments efficient, but provided no deal value.
Russia already operates two 35 MW small reactors commissioned in 2020. President Putin has said the country plans to build 38 nuclear power units over two decades to expand computing capacity for artificial intelligence. The source gives no details on which projects the US and Russia may pursue.
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