Vladimir Putin presented Russia as a preferred partner for Africa and called for closer cooperation in the economy, finance, infrastructure and food supplies. His remarks were made at the Russia-Africa summit in Moscow, which is attended by delegations from 48 countries.
“Africa is increasingly asserting its position as one of the key players in the world economy and politics“, the Russian president said. He defined the multipolar world as a reality and said that the time when the fate of entire continents was determined by a limited number of countries was coming to an end.
Criticism of the West and promises of local production
Putin accused Western countries of continuing to use colonial models, extracting Africa's resources and holding back its development through debt and unfavorable financial conditions. He did not name specific countries.
In contrast to this model, the Russian president presented Moscow as a partner that offers technologies, including digital ones, and local production. According to him, this should create jobs and tax revenues, instead of limiting relations to the purchase of raw materials.
Putin supported greater participation of African countries in decision-making in the International Monetary Fund and the World Bank. He also said that Russia is ready to work with African partners on transport and agricultural infrastructure projects and to increase grain and fertilizer supplies.
Payments in national currencies
Among the specific proposals was the creation of stable channels for payments in national currencies. Putin called for expanding banking ties, mutual opening of branches and the use of alternative financial messaging systems.
He pointed to the Russian Financial Messaging System and the Pan-African Payment System as possible tools for reducing dependence on Western financial infrastructure. African countries remain heavily tied to these systems, which, according to Putin, limits their economic independence.
Signals to the US and talks on sanctions
In another speech, Putin said that the world should discuss ending conflicts and lifting sanctions. He also said that Russia is considering cooperation with American partners in the Arctic, without naming specific companies or projects.
The next highlight of the Russia-Africa forum is the plenary session with the participation of Putin and the chairman of the African Union, Evariste Ndayishimiye, followed by a joint press conference. It is expected that the agreements on future cooperation between Moscow and African countries will be summarized there.
Sources: theprint.in, apnews.com, gna.org.gh