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Putin Pledges $50B Russia-Africa Trade, Urges Banks in Currencies

By Drooid · Oct 29, 2026 · How we work

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Summary

President Vladimir Putin pledged to double Russia-Africa trade to at least $50 billion.
He noted trade rose to $27 billion in 2023, up from $18 billion in 2022.
Putin urged Russian and African banks to open branches and use national currencies.
More than 30 energy projects operate in 16 African states, including a nuclear cooperation deal with Togo.
Russia extended epidemic-control aid to 2029, delivering 15 mobile labs and training 450 specialists.

Summary

President Vladimir Putin accused Western nations of exploiting Africa’s resources and using debt to hinder development.
Russian Africa Corps paramilitary units remain active in several African states.
Kremlin officials said Russia will seek greater African representation in the IMF and World Bank.
Burkina Faso Prime Minister Rimtalba Jean Emmanuel Ouedraogo praised Russian cooperation as transparent and distinct from former colonial powers.

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Putin Pledges Trade Boost

President Vladimir Putin pledged to double Russia-Africa trade to at least $50 billion.
He noted trade rose to $27 billion in 2023, up from $18 billion in 2022.
Putin urged Russian and African banks to open branches and use national currencies.
More than 30 energy projects operate in 16 African states, including a nuclear cooperation deal with Togo.
Russia extended epidemic-control aid to 2029, delivering 15 mobile labs and training 450 specialists.

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