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News > Russia

Russia Writes Off 20 Billion In Debt To African Countries

  • 40 African countries attend the plenary session

    40 African countries attend the plenary session "Russia - Africa in a multipolar world" in Moscow. Mar. 20, 2023. | Photo: Twitter/@ItsMutai

Published 20 March 2023

The International Parliamentary Conference "Russia - Africa in a multipolar world" has brought together 40 African nations in Moscow.  

Russian President Vladimir Putin said Monday that Russia has written off debts of African states worth more than 20 billion dollars.

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Putin's comments came on the occasion of the International Parliamentary Conference "Russia - Africa in a Multipolar World," where the Russian President said that the volume of mutual trade "reached almost $18 billion by the end of last year."

In this regard, the President added that the volume of trade between Russia and African countries will benefit from "the more vigorous transition to national currencies in financial settlements and the establishment of new transport and logistics chains."

On the occasion, Putin said that in case the Black Sea grain agreement is not extended, Russia will supply food to needy African nations free of charge.

"We are convinced that Africa will become one of the leaders of the new emerging multipolar world order," Putin said, and added that the role of the African continent in international affairs is steadily growing.

Russia and African countries, along with many states of Asia, the Middle East, and Latin America, "defend the traditional moral norms and social principles of our peoples, and oppose the neocolonial ideology imposed from abroad," the Russian President said, pointing to the global majority stance against neocolonial ideology.

Putin expressed Russia's commitment to work together with Africa "to strengthen fair and equal interstate relations and improve mechanisms of mutually beneficial economic cooperation."

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