US Pledges $9 Billion to Help Armenia Shift From Russian Energy

US Vice President JD Vance signed a civil nuclear cooperation agreement with Armenia on Monday, pledging as much as $9 billion in potential investment as the South Caucasus country seeks to reduce its long-standing reliance on Russia for energy.

The accord, known as a Section 123 agreement, establishes the legal framework for US companies to export nuclear technology, fuel and services to Armenia. It opens the door for American firms to compete for a deal to replace the Soviet-era Metsamor nuclear power plant, which currently supplies about 40% of the country’s electricity, with small modular reactors.