RateCaptain
  • Home
    • About Us
    • Contact Us
  • FX Rates
  • Money Market
  • Cryptocurrency
  • Commodities
  • Corporates
No Result
View All Result
Subscribe
  • Home
    • About Us
    • Contact Us
  • FX Rates
  • Money Market
  • Cryptocurrency
  • Commodities
  • Corporates
No Result
View All Result
RateCaptain
No Result
View All Result
Home Commodities

Putin Vows Free Grain to African Leaders Amidst Western Sanctions.

Stephen Akudike by Stephen Akudike
September 13, 2023
in Commodities, Economy
Reading Time: 2 mins read
A A
0
Putin Vows Free Grain to African Leaders Amidst Western Sanctions.
Share on FacebookShare on TwitterShare on WhatsappShare on Telegram

Russian President Vladimir Putin has pledged to gift tens of thousands of tons of grain to African nations within the next few months, despite facing Western sanctions that have made exporting grain and fertilizers more challenging for Moscow. Speaking at a summit in St Petersburg focused on Russian-African ties, Putin emphasized Russia’s crucial role in global food security and its readiness to replace Ukrainian grain exports to Africa both commercially and as aid.

Putin announced plans to provide countries like Burkina Faso, Zimbabwe, Mali, Somalia, Central African Republic, and Eritrea with 25,000 to 50,000 tons of free grain each in the coming months. Additionally, Russia will ensure the free delivery of these products to the consumers in these countries. The announcement received applause from summit participants.

AlsoRead

NRS Chairman: Ending Fuel Subsidy Averted N53 Trillion Bill and Naira Crash to N3,500

NRS Chairman: Fuel Subsidy Could Have Cost N53 Trillion

Tinubu Approves Deep Offshore Reform Aimed at Attracting $50 Billion Investment

The summit is part of Russia’s ongoing efforts to extend its influence and business relations in Africa. Despite the abortive mutiny involving Russia’s Wagner Group, the country remains actively engaged on the continent.

In response to Western criticism of Russia’s withdrawal from the Black Sea grain deal, which allowed Ukraine to ship grain from its seaports amid the ongoing conflict, Putin argued that the promises made to Russia regarding facilitating its own grain and fertilizer exports had been disregarded. The United Nations Secretary-General, Antonio Guterres, had previously expressed concern over the increase in world food prices due to the collapse of the Black Sea deal and Russia’s bombing of Danube river ports used by Ukraine for exports.

Putin emphasized that over 70% of Ukrainian grain exports under the lapsed deal went to higher-income countries, including in the European Union, while the poorest countries, like Sudan, received less than 3% of the shipments. However, he did not mention the impact of Ukrainian supply on lowering global market prices.

The Russian president blamed Western sanctions, imposed in response to Russia’s war in Ukraine, for obstructing the supply of Russian grain and fertilizers to impoverished nations. Putin criticized Western countries for hypocritically blaming Russia for the current crisis situation on the world food market.

African Union chair Azali Assoumani, who was present at the summit, appealed for peaceful co-existence between Russia and Ukraine, highlighting the importance of food exports to the lives of those who depend on them.

While 49 of Africa’s 54 states were represented in St Petersburg, the number of attending leaders was lower than in the previous summit in 2019. The Kremlin attributed this decline to efforts by Western countries to dissuade leaders from participating.

Putin listed several sectors where Russia was willing to share its expertise or engage in business with Africa, including energy, media, transport, trade, financial services, medicine, agriculture, and car manufacturing. He also expressed readiness to welcome more African students to Russia.

The summit program includes panel discussions on various topics, including security, nuclear energy, artificial intelligence, education, and sports. Visiting dignitaries were also invited to explore Russia’s imperial palaces and watch a gala football match between Russian and African “football legends.”

Tags: #agriculture#economyAfricaAfrican leadersaidglobal food securitygrain exportsRussiasmall businessesUnemploymentVladimir PutinWestern sanctions
Previous Post

Rapid Surge in Job Losses as 4 Million Small Businesses Close within Two Months.

Next Post

Airtel Africa Records $471 Million Foreign Exchange Loss Due to Currency Unification.

Related News

FG Saves N1.45 Trillion as Petrol Subsidy Removal Benefits Emerge

NRS Chairman: Ending Fuel Subsidy Averted N53 Trillion Bill and Naira Crash to N3,500

by Stephen Akudike
August 17, 2026
0

The petrol subsidy could have drained as much as N53 trillion from government coffers under present market conditions and driven...

Petrol Prices Surge in West Africa as Nigeria Removes Subsidies.

NRS Chairman: Fuel Subsidy Could Have Cost N53 Trillion

by Akpan Edidong
August 12, 2026
0

The Chairman of the Nigeria Revenue Service, Zacch Adedeji, has said that Nigeria’s fuel subsidy bill could have ballooned to...

2024 Budget Outline: Oil Price Set at $77.96, Naira Stands at 750 Against the Dollar

Tinubu Approves Deep Offshore Reform Aimed at Attracting $50 Billion Investment

by Victoria Attah
August 12, 2026
0

President Bola Tinubu has approved a major reform of Nigeria’s deep offshore oil and gas investment framework, designed to unlock...

Oil Sector FX Demand Surges 115% in 2025 Despite Expanded Local Refining

by Akpan Edidong
August 10, 2026
0

Nigeria’s foreign exchange demand for oil-sector imports rose sharply by 114.91 per cent in 2025, underscoring the country’s continued reliance...

Next Post
Airtel Africa Records $471 Million Foreign Exchange Loss Due to Currency Unification.

Airtel Africa Records $471 Million Foreign Exchange Loss Due to Currency Unification.

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended

EFCC Launches Task Force to Combat Naira Mutilation and Dollarization

EFCC Facilitates $60 Million Nestoil Debt Payment to Creditor Consortium

August 17, 2026
Nigerian Equity Market Sees Impressive N1.08tn Wealth Gain Amidst Bullish Trading.

NGX Delays New Equity Pricing Rules as Investors Await Fresh Launch Date

August 17, 2026

Popular Story

  • FG Saves N1.45 Trillion as Petrol Subsidy Removal Benefits Emerge

    NRS Chairman: Ending Fuel Subsidy Averted N53 Trillion Bill and Naira Crash to N3,500

    0 shares
    Share 0 Tweet 0
  • NGX Delays New Equity Pricing Rules as Investors Await Fresh Launch Date

    0 shares
    Share 0 Tweet 0
  • EFCC Facilitates $60 Million Nestoil Debt Payment to Creditor Consortium

    0 shares
    Share 0 Tweet 0
  • Air Peace and United Nigeria Claim Over N2 Billion Losses After Union Disruptions

    0 shares
    Share 0 Tweet 0
  • 31 Nigerian States Grapple with N2.57 Trillion Domestic Debt Amid No Foreign Inflows

    0 shares
    Share 0 Tweet 0

RateCaptain

We bring you the most accurate in new and market data. Check our landing page for details.

  • Home
  • About Us
  • Privacy Policy
  • Terms & Conditions
  • Disclaimer
  • Cookie Policy
  • Contact Us

Copyright © 2022 RateCaptain - All rights reserved by RateCaptain.

No Result
View All Result
  • Home
    • About Us
    • Contact Us
  • FX Rates
  • Money Market
  • Cryptocurrency
  • Commodities
  • Corporates

Copyright © 2022 RateCaptain - All rights reserved by RateCaptain.

RateCaptain
Manage Cookie Consent
To provide the best experiences, we use technologies like cookies to store and/or access device information. Consenting to these technologies will allow us to process data such as browsing behavior or unique IDs on this site. Not consenting or withdrawing consent, may adversely affect certain features and functions.
Functional Always active
The technical storage or access is strictly necessary for the legitimate purpose of enabling the use of a specific service explicitly requested by the subscriber or user, or for the sole purpose of carrying out the transmission of a communication over an electronic communications network.
Preferences
The technical storage or access is necessary for the legitimate purpose of storing preferences that are not requested by the subscriber or user.
Statistics
The technical storage or access that is used exclusively for statistical purposes. The technical storage or access that is used exclusively for anonymous statistical purposes. Without a subpoena, voluntary compliance on the part of your Internet Service Provider, or additional records from a third party, information stored or retrieved for this purpose alone cannot usually be used to identify you.
Marketing
The technical storage or access is required to create user profiles to send advertising, or to track the user on a website or across several websites for similar marketing purposes.
  • Manage options
  • Manage services
  • Manage {vendor_count} vendors
  • Read more about these purposes
View preferences
  • {title}
  • {title}
  • {title}
?>