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| Russia ramps up energy exports to Africa – Putin | Russia ramps up energy exports to Africa – Putin |
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| Oil-product supplies to the continent soared almost threefold in first five months of 2023, according to the Russian leader | |
| Russian companies have been boosting energy deliveries to Africa and developing logistics and financial infrastructure for those supplies, President Vladimir Putin said on Thursday, addressing a plenary session of the Russia-Africa summit. | |
| Moscow has in the past two years increased its exports of oil, petroleum products and Liquefied Natural Gas (LNG) to African countries by a factor of 2.6, the president stated. Supplies of oil products soared threefold in the first five months of this year to eight million tons. | |
| Deputy Prime Minister of Russia Aleksandr Novak had said earlier that, in 2022, the country’s overall exports of oil to ‘friendly’ states grew by 76% in annual terms, and those of petroleum products by 20%. He also noted that, all told, almost 40 million tons of oil and petroleum products have been redirected from western to eastern markets last year. | |
| The second Russia-Africa summit is taking place in the Russian city of St. Petersburg on July 27-28, with an economic and humanitarian forum to be held concurrently. | |
| For more stories on economy & finance visit RT's business section |