Russia Is Wiring Dollars to Turkey for $20 Billion Nuclear Plant

A Russian state-owned company is transferring money to a subsidiary that’s building a $20 billion nuclear power plant on Turkey’s Mediterranean coast, alleviating concerns the project could be delayed by war sanctions.

Rosatom Corp. last week sent around $5 billion to the Turkey-based builder, formally known as Akkuyu Nuclear JSC, with two other similar dollar transfers planned for this week and next, according to senior Turkish officials with direct knowledge of the matter.

Rosatom said in a statement although the construction site is the largest of its kind worldwide, “current transactions are significantly lower” than the figure provided by the Turkish officials.

Financing arrangements for the project are private, according to Rosatom, which declined to provide further details.