Russia and Vietnam are preparing to sign an energy agreement
Vietnam and Russia plan to sign a series of energy agreements during Vietnamese Prime Minister Pham Minh Chinh’s official visit to Moscow. The visit will last four days and began on Sunday. The two sides are expected to discuss cooperation in the energy sector and reach relevant agreements.
This was reported by Reuters.
As noted, the parties intend to conclude “important agreements,” primarily in the fields of energy, trade, and investment, according to a statement from the Vietnamese government.
The prime minister’s visit comes amid a sharp rise in fuel prices in Vietnam following the start of the U.S.-Israeli war with Iran: gasoline prices have risen by 50%, while diesel prices have risen by 70%.
Vietnam maintains close ties with Russia, which has long been its main supplier of military equipment. Additionally, Russian oil and gas companies are engaged in offshore production in Vietnam.
The two countries have been negotiating the construction of Vietnam’s first nuclear power plant by a Russian company. Officials stated that the nuclear energy agreement is likely to be officially signed during Qin’s current visit.
It should be noted that China has suspendedexports of fuel and fertilizers due to the crisis in the Middle East.
Additionally, the threat from Iran is undermining the UAE’s reputation as a stable business hub.
The war in the Middle East threatens air travel.
