Russia & Africa: Energy Sovereignty Through Partnership
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Russia and Africa: Energy Sovereignty Through Partnership
In the 1990s, Russia faced the same problems that Africa faces now, when its energy sector was dominated by foreign investors. Today, Russian companies have reclaimed control, modernized, and are ready to share their expertise.
“Here lies opportunity for synergy between Russian businesses and African companies,” Vsevolod Sviridov, Deputy Director at the Center for African Studies, HSE, Moscow, told Sputnik Africa.
He sees promise in the African Energy Bank—a $5 billion initiative launched by Afreximbank and the African Petroleum Producers' Organization to fund vital oil and gas projects without Western-imposed green agendas.
But he cautions: funding is limited, and outside influence from groups like the IMF or World Bank could threaten the bank’s independence.
“African governments should take caution and should move on fast but still considering all the risks of exposing themselves to outer influence,” Sviridov warned.
🫰 He urged African nations to demand more from foreign investors—through taxes, donations, and local content—to ensure their natural wealth benefits their own economies.
Subscribe to @sputnik_africa
Sputnik Africa | X
In the 1990s, Russia faced the same problems that Africa faces now, when its energy sector was dominated by foreign investors. Today, Russian companies have reclaimed control, modernized, and are ready to share their expertise.
“Here lies opportunity for synergy between Russian businesses and African companies,” Vsevolod Sviridov, Deputy Director at the Center for African Studies, HSE, Moscow, told Sputnik Africa.
He sees promise in the African Energy Bank—a $5 billion initiative launched by Afreximbank and the African Petroleum Producers' Organization to fund vital oil and gas projects without Western-imposed green agendas.
But he cautions: funding is limited, and outside influence from groups like the IMF or World Bank could threaten the bank’s independence.
“African governments should take caution and should move on fast but still considering all the risks of exposing themselves to outer influence,” Sviridov warned.
🫰 He urged African nations to demand more from foreign investors—through taxes, donations, and local content—to ensure their natural wealth benefits their own economies.
Subscribe to @sputnik_africa
Sputnik Africa | X
