Russia-Africa trade reaches $27 billion, Putin says

Russian President Vladimir Putin announced that bilateral trade between Russia and Africa has reached $27 billion, highlighting the importance of the Russia-Africa Summit. Putin expressed gratitude to African leaders for their participation in the summit, which he described as an opportunity for dialogue and strengthening relations.

Putin's announcement comes as Russia seeks to bolster its economic ties with African nations. The summit, held in Sochi, Russia, brought together leaders from across the continent to discuss various aspects of cooperation, including trade, investment, and security.

Russia's trade with Africa has been growing steadily in recent years, driven by increased demand for Russian energy exports and African commodities. The $27 billion figure represents a significant increase from previous years, reflecting the deepening economic ties between the two regions.

Meanwhile, Russia is also focusing on expanding its trade relations with other major economies. The Russian ambassador to China, Alexei Dakhnovsky, recently stated that trade between Russia and China is expected to reach between $270 and $280 billion by the end of 2026, setting a new record.

Dakhnovsky's remarks underscore Russia's strategic efforts to diversify its trade partners and reduce dependence on Western markets. The anticipated growth in trade with China is part of a broader strategy to enhance economic cooperation and mutual development.