As energy markets shrink, the same tactics that the Kremlin used to build Gazprom, the giant energy company, into a fearsome economic and political power that could restore Russian influence in the world are now backfiring, slashing both its profits and its influence.

Bangladesh and Russia on Wednesday signed an agreement on peaceful use of nuclear energy enabling Dhaka to launch negotiations with Moscow to set up nuclear power units in Bangladesh.

Bangladesh and Russia might sign a Memorandum of Understanding on Wednesday on installation of a nuclear power plant, officials said on Monday.

Prime Minister Shiekh Hasina provisionally approved the draft MoU, officials said last week.

A high-powered Russian delegation is expected to arrive in Dhaka on Tuesday to sign the deal.

Prime minister Shiekh Hasina has provisionally approved a draft memorandum of understanding with Russia on installation of a nuclear power plant, officials with knowledge of the matter said on Monday.

Nazmul Huda Khan, science and technology secretary, told bdnews24.com they expect an agreement to be signed later this month when a Russian minister is expected to visit Dhaka.

Science and ICT Ministry is now waiting for the go-ahead from the Prime Minister's Office to sign two agreements with Russia to advance with the conceived nuclear power-plant projects.

WHAT could be the world

Unused funds from a European Union plan to spend 4 billion euros (US$5.3 billion) overhauling energy infrastructure could be funnelled into energy efficiency measures, according to a agreement reached on Thursday.

European Union countries struck the deal in closed-door negotiations with the European Parliament after weeks of squabbling within the 27-nation bloc.

Involvement in the project would

Prime Minister Vladimir V. Putin unveiled his economic recovery plan for Russia in a speech to Parliament on Monday, which in sharply focused terms explained the need to generate domestic consumer demand to substitute for shriveling oil exports.

Bangladesh and Russia yesterday agreed on their proposals for setting up nuclear power plants in Bangladesh and signing a Memorandum of Understanding (MoU) in this regard at the end of this month.