Vietnam’s PM visits Russia to sign key energy and oil deals, reinforcing ties and securing fuel amid global supply disruptions from Middle East conflict
HANOI: Prime Minister Pham Minh Chinh has embarked on an official visit to Russia, with energy cooperation at the top of the agenda.
The trip, scheduled from Sunday to Wednesday, aims to deepen bilateral ties and expand collaboration in trade, investment and energy.
A series of important agreements related to nuclear power plant projects and oil and gas cooperation are set to be signed during the visit.
“Cooperation in oil and gas energy will be reinforced in all fields of trade, exploration, extraction, and human resource training,” a Hanoi statement said.
The visit comes as Vietnam seeks to bolster its fuel reserves amid global supply disruptions linked to the war in the Middle East.
Since that conflict began in late February, fuel prices in the manufacturing hub have soared dramatically.
The cost of 95-octane petrol has risen by 50%, while diesel prices have jumped by 70%.
Chinh recently held phone talks seeking fuel support from several countries, including Qatar, Kuwait, Algeria and Japan.
He is scheduled to meet with his Russian counterpart, Mikhail Mishustin, on Monday.
They will discuss trade issues, with a focus on implementing joint projects in the energy and other sectors.
During a visit by Mishustin to Hanoi in January 2025, Russia expressed readiness to help build a national nuclear power industry in Vietnam.
The two nations also pledged to work together on joint oil and gas projects at that time.
A deal on nuclear energy was signed, with Chinh stating Vietnam would aim to build a nuclear power plant within five years.
