The Plutonium Rod was the key instrument in Renard and Elektra King's scheme to gain leverage over the global oil market. The rod ended up causing Renard's own undoing in-fact, as Bond was able to utilize it to his advantage and impale the terrorist with it.
While there were many cogs within the machinations of the duo's plan, the endgame was efficiently simple. By introducing weapons-grade plutonium into the reactor core of a nuclear submarine as it traveled through the waters of the Bosphorus strait, the resulting blast would annihilate the adjoining city of Istanbul, creating a substantial amount of nuclear fallout, and rendering the waterway unusable for decades. With the major shipping hub of its various competitors utterly destroyed, King Industries' alternately routed pipeline would then become the only viable means of petroleum transportation within the Mediterranean. In order to secure the vital amount of plutonium, Renard and his henchmen set out for Kazakhstan where they successfully infiltrated a decommissioned nuclear weapons silo with the help of a rogue atomic researcher. While the operation was slightly hampered by the intervention of James Bond, Renard was nonetheless successful in obtaining one of the base's nuclear warheads.
A present for Elektra
Mere hours after fleeing from the Kazakhstan base with the stolen warhead, Renard returned to Baku where he intended upon wreaking more havoc. The next phase of the plan involved a terror attack upon a completed section of Elektra's pipeline in order to disguise the true nature of the terrorist's ploy. After killing several pipeline workers, Renard placed a bomb containing only half of the plutonium on one of the pipeline's transport rigs and propelled the vehicle into the vast tube. With the assistance of Dr. Jones, Bond managed to intercept the bomb as it traveled along the tunnel. Though the two were successful in removing the plutonium from the bomb, Bond nevertheless allowed the explosive to detonate, destroying a major area of the pipeline as a result. Bond then deduced that the attack was a staged decoy that effectively covered up Renard and Elektra's tracks by giving off the appearance that the stolen plutonium was used up in the blast and diverting attention away from Elektra herself, eliminating any suspicion of her involvement in the scheme. Meanwhile, back in Istanbul, Renard met up with Elektra at their island lair, The Maiden's Tower. There, Renard handed Elektra the remaining half of the plutonium orb to which she stared at with curiosity and excitement.
Renard's "Nuclear Family"
While Renard himself had secured the plutonium, Elektra managed to obtain the other crucial element of their plan. Striking up a deal with her primary arms supplier, Valentin Zukovsky, Elektra was given the full service of a Russian Navy nuclear Submarine, courtesy of Zukovsky's nephew, Nikolai.