Concerns over Bangladesh's biggest project under sanctions on Russia
2022-Feb-28
One after another sanctions have been imposed on Russia since the Ukraine invasion. Russia's banking system has been rocked by sanctions imposed by Ukraine's allies, including the United States, the United Kingdom and Europe. The latest in a series of talks with some of the country's largest banks to shut down the international money transaction system Swift. Allies of the European Union, the United States and Ukraine have agreed. If it is implemented, Russia will have problems in financial transactions with different countries.
In such a situation, there is concern about the work of Rooppur Nuclear Power Plant, the biggest project in Bangladesh. Rosatom, a Russian state-owned company, is implementing the Rs 1 lakh crore project. Under the supervision of this organization, 16 contractors of the country are implementing the project. One unit of this two-unit power project is scheduled to be commissioned next year. The other unit is targeted to be launched in 2024. Russian workers are working to complete the project on time. About four and a half thousand Russians are working in Rooppur. They have all the arrangements including accommodation in the project area of Ishwardi upazila of Pabna.
Project sources say Russia is financing the project as a loan. The bill of the contractor responsible for the implementation of the project is paid from Russia. The salaries of Russian workers are similarly paid. However, the salaries of Bangladeshi workers in this project are paid from here. Besides, equipment is also being brought from Russia.
If the Russian banking system is severed from Swift, money transactions for the project could be complicated. In addition, Russia's financial crisis caused by the war has raised concerns about the financing of the entire project.
Besides, if Russia's state-controlled Atomic Energy Corporation-Rosatom falls under any sanctions, the biggest project in the history of Bangladesh could fall into uncertainty.
However, those involved in the project say that at present the work of the project is progressing at a normal pace. So far no problem.