Russia ready to help African nations with critical products; Over $20 bn debt written off

Russian President Vlimir Putin has reiterated his country's commitment to meeting its obligations on supplies of food products, fertilisers, fuel and or critical products to African countries. Speaking at international parliamentary conference 'Russia-Africa in a Multipolar World' on Monday, March 20, Putin said that Russia is playing a key role in ensuring food and energy security in continent. "I should stress that our country conscientiously meets all its obligations on supplies of food products, fertilisers, fuel and or products critical for countries of continent, thus contributing to ensuring ir food and energy security," Putin said.

Russian President also expressed his country's reiness to supply fertilisers to African nations for free, but ded that obstacles are being thrown in ir way by West. "You know that we are rey to supply part of our resources frozen in European countries, including fertilisers, to countries in need for free, with first batches alrey delivered. However, unfortunately, obstacles are thrown in our way here," he said, as per a report from TASS.

Russia writes off debt of African nations

ditionally, Putin announced that Russia has written off debts of African nations amounting to more than $20 billion. "Russia wrote off debts of African states in amount over $20 bln," he said. According to Putin, mutual tre turnover between Russia and African nations is growing from year to year, and reached almost $18 billion as of last year-end. " more vigorous transition to national currencies in financial settlements and establishment of new transport and logistics chains will facilitate development of countertre turnovers," Putin ded.

international parliamentary conference 'Russia-Africa in a Multipolar World' is aimed at strengning ties between Russia and African nations and promoting cooperation in various sectors, including tre, energy, healthcare and education. conference is being attended by lawmakers from Russia and African countries, as well as representatives of international organisations and businesses.

Why Russia is a crucial node in international fertiliser market

Russia plays an important role in international fertiliser market due to several factors, including its abundant natural resources, strong production capacity, and strategic location. Firstly, Russia is rich in natural resources, including large deposits of potash, phosphate, and nitrogen, which are key raw materials for producing fertilisers. Russia is one of world's largest producers and exporters of potash, accounting for around 20% of global production. It also ranks among top five producers of nitrogen and phosphate fertilisers.

Secondly, Russia has a strong production capacity for fertilisers, with several large chemical companies and fertiliser producers operating in country. se companies have invested heavily in modernising ir production facilities and improving efficiency of ir operations, enabling m to compete effectively in global market.

Thirdly, Russia's strategic location between Europe and Asia, and its access to major shipping routes and transportation networks, make it a natural hub for tre in fertilisers. This has enabled Russian fertiliser producers to establish strong relationships with buyers and distributors in key markets, including China, India, and Europe.

In dition to its strong position in global fertiliser market, Russia has also been actively promoting its fertilisers and or agricultural products to emerging markets in Africa, Asia, and Latin America. country has established close partnerships with several African countries, offering m favourable financing terms and or incentives to import Russian fertilisers and or products.