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Russia hopes JP Morgan will unfreeze funds for Akkuyu NPP — diplomat

The plant's first power unit is 99% ready

ANKARA, January 26. /TASS/. Russia hopes JP Morgan will release immobilized funds intended for the Akkuyu NPP, whose first power unit is 99% complete, Russia's Charge d'Affaires in Turkey, Alexey Ivanov, told the Ekonomim newspaper.

"After Siemens' refusal, [Russian nuclear corporation] Rosatom was forced to turn to other reliable equipment suppliers. JP Morgan blocked the allocation of $2 billion that was intended for the construction. Of course, these delays inevitably affected the pace of construction, but both sides are doing their best to maintain the momentum. We hope that the freeze on funds held by JP Morgan will be lifted. Everything possible is being done to ensure the commissioning of the first power unit," Ivanov said.

He noted that "Russia is satisfied with the level of interaction" with the Turkish side on the nuclear power plant project.

"Today, the first power unit is almost finished. It is actually 99% ready, and its commissioning is expected soon. Construction of the remaining power units is also proceeding at full speed," the diplomat added.

Speaking about anti-Russian sanctions, Ivanov noted that "these illegal sanctions are creating difficulties for bilateral trade" between Russia and Turkey.

"We are working on possible solutions. These sanctions are hampering trade relations. We do not consider them fair. Turkey is part of the international financial system and is controlled by the United States. Since the introduction of the restrictions, we have regularly discussed this issue, including through interagency consultations. This is a sensitive topic," he said.