Vietnam and Russia to Sign Major Energy Agreements During Moscow Visit

Overview of Vietnam-Russia Energy Cooperation and Agreements

HANOI, March 23 (Reuters) – Vietnam and Russia are expected to sign energy deals during Vietnamese Prime Minister Pham Minh Chinh‘s four-day visit to Moscow that started on Sunday, the government said.

Key Agreements and Focus Areas

• The two sides are expected to sign "important agreements"focusing on energy, trade and investment, Vietnam’s government said in a statement late on Sunday.

High-Level Meetings

• Chinh is scheduled to meet counterpart Mikhail Mishustin and Russian President Vladimir Putin.

Context: Rising Fuel Prices

• Chinh’s visit comes as Vietnam has faced surging fuel prices since the U.S.-Israel war on Iran, with gasoline prices up 50% and diesel prices rising 70%.

Strategic Relationship and Energy Projects

Military and Energy Ties

• Communist-run Vietnam maintains close ties with Russia, its longtime top supplier of military equipment, while Russian oil and gas companies operate offshore of Vietnam.

Future Collaboration: Nuclear Power Plant

Ongoing Negotiations

• The two countries have been in talks for a Russian company to build Vietnam’s first nuclear power plant, and officials said they are likely to officially sign a nuclear power agreement during Chinh’s trip.

(Reporting by Khanh Vu; Editing by Martin Petty)

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