Iran and Russia sign $25B deal to build 4 nuclear plants

Iran and Russia have signed a $25 billion deal to build four nuclear power plants in Iran, announced by Iranian state media. The agreement was made just ahead of the expected reinstatement of UN sanctions on Iran. Each plant will have a capacity of 1,255 megawatts, with the project in Hormozgan.

Iran currently operates only one nuclear plant, which is insufficient for its energy needs. The deal follows a visit by Iran's Vice President and nuclear chief to Moscow. Despite being accused of seeking atomic weapons, Tehran insists on its rights to a civilian nuclear program.