The results of a simulation of underwater electrical wire explosion at a current density >109A∕cm2, total discharge current of ∼3MA, and rise time of the current of ∼100ns are presented. The electrical wire explosion was simulated using a one-dimensional radiation-magnetohydrodynamic model. It is shown that the radiation of the exploded wire produces a thin conducting plasma shell in the water in the vicinity of the exploding wire surface. It was found that this plasma shell catches up to 30% of the discharge current. Nevertheless, it was shown that the pressure and temperature of the wire material remain unchanged as compared with the idealized case of the electrical wire explosion in vacuum. This result is explained by a “water bath” effect.