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

Nigerian Issuers Pay Up to 20% to Raise Debt in First Half of 2026

Nigeria’s FX Market Hits Record $4.4 Billion Weekly Turnover 

US Imposes 12.5% Tariff on Nigerian Exports Over Forced Labour Concerns

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 Secures $1.95 Billion in World Bank Loans Amidst Debt Concerns

Nigerian Issuers Pay Up to 20% to Raise Debt in First Half of 2026

by Victoria Attah
July 28, 2026
0

Corporate borrowers and state-backed entities paid coupon rates as high as 20% to access Nigeria’s debt capital market in the...

Nigeria Plans New FX Rules, Targeting 750 Naira Exchange Rate

Nigeria’s FX Market Hits Record $4.4 Billion Weekly Turnover 

by Jide Omodele
July 28, 2026
0

Nigeria’s foreign exchange market recorded its highest weekly turnover of 2026, with total transactions in the FX Spot and Derivatives...

US Imposes 12.5% Tariff on Nigerian Exports Over Forced Labour Concerns

by Victoria Attah
July 27, 2026
0

The United States has imposed a 12.5% tariff on most Nigerian exports following a Section 301 investigation that concluded Nigeria...

Fuel Subsidy Removal: Should Nigeria Continue With a Regressive Petrol Subsidy?

Petrol Climbs to N1,400 per Litre as Transport Fares Rise Across Nigeria

by Akpan Edidong
July 27, 2026
0

Petrol prices have surged to as high as N1,400 per litre in parts of Nigeria, prompting a fresh wave of...

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

CBN Allows Oil Companies to Resume Dollar Sales to Banks in Effort to Boost Supply.

Cash Outside Banks Falls by N486 Billion to Seven-Month Low

July 28, 2026
FG Secures $1.95 Billion in World Bank Loans Amidst Debt Concerns

Nigerian Issuers Pay Up to 20% to Raise Debt in First Half of 2026

July 28, 2026

Popular Story

  • CBN Allows Oil Companies to Resume Dollar Sales to Banks in Effort to Boost Supply.

    Cash Outside Banks Falls by N486 Billion to Seven-Month Low

    0 shares
    Share 0 Tweet 0
  • Nigeria’s FX Market Hits Record $4.4 Billion Weekly Turnover 

    0 shares
    Share 0 Tweet 0
  • Nigerian Issuers Pay Up to 20% to Raise Debt in First Half of 2026

    0 shares
    Share 0 Tweet 0
  • First HoldCo Assures Shareholders of Dividend Resumption by End of 2026

    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}
?>