Vietnam, Russia Move to Deepen Energy Ties During High-Level Visit

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Hanoi: Vietnam and Russia are set to deepen their energy partnership, with key agreements expected to be signed during Prime Minister Pham Minh Chinh’s four-day visit to Moscow.

According to a government statement, both sides are preparing to finalise “important agreements” spanning energy, trade, and investment.

Chinh is scheduled to hold talks with Russian Prime Minister Mikhail Mishustin and President Vladimir Putin as Vietnam navigates a sharp rise in fuel costs amid the ongoing US-Israel war on Iran.

Fuel prices in Vietnam have surged significantly, with petrol up by 50% and diesel rising 70%, increasing pressure on the country’s economy.

Vietnam, which maintains longstanding ties with Russia, continues to rely on Moscow as a major supplier of military equipment. Russian energy firms are also actively involved in offshore oil and gas projects in the country.

A key focus of the visit is likely to be nuclear energy cooperation. The two nations have been in discussions over plans for a Russian company to build Vietnam’s first nuclear power plant, with officials indicating that a formal agreement could be signed during the trip.

Photo Credit:VNA