Russia's First Ever Africa Summit: What You Need To Know

President Vladimir Putin hosted the first-ever Russia-Africa summit Wednesday and Thursday in the latest display of Moscow’s efforts to restore its geopolitical foothold on the continent after the fall of the Soviet Union.

Amid a deluge of memoranda of understanding and cooperation agreements, Russia clinched a series of trade agreements with some of the 55 African countries represented at the summit in Sochi.

Below is a list of military, energy and other deals made between Russia and African countries at the inaugural summit:

Military and politics:

— Russia signed a contract to supply 12 Mi-35 Hind E attack helicopters to Nigeria.

— Overall, Russia plans to send $4 billion worth of weapons to African countries in 2019, the state arms exporter said.

— Putin said Russia wrote off $20 billion of African countries’ debts that had accumulated during Soviet times. 

— Putin has signaled readiness to help stabilize conflicts in the Central African Republic and Sudan. 

Energy:

— Russia's state nuclear company Rosatom is in talks with Ethiopia to build a nuclear power station there.

— Russia’s state development bank VEB, the Russian export center, the African Export-Import Bank and the Societe Nationale des Petroles du Congo signed an investment cooperation deal on a regional oil product pipeline in the Democratic Republic of the Congo. 

— VEB and the Russian export center, a state institute supporting non-commodities exports, also signed a memorandum with Morocco's MYA Energy on financing a refinery in the North African country.

— Russia’s Rosgeo exploration company signed memoranda and cooperation agreements with Equatorial Guinea, South Sudan and Rwanda.

— An affiliate of Russia’s Rostec conglomerate, the Russian export center, Russia’s Vi Holding industrial group and the African Export-Import Bank agreedto create an interstate platform for mining projects in Africa. 

Economy and trade:

— Russia’s largest lender Sberbank, VEB and the Russian export center teamed up with London-based investment firm Gemcorp Capital for a $5 billion deal to create a mechanism to support trade between Russia and African countries. 

• The agreement will help boost Russian exports by providing financial assistance for the supply of Russian goods to African countries including Angola, Ethiopia, Mozambique and Zimbabwe, Sberbank said. 
• It is expected to offer financial support and counsel to Russian exporters’ projects in sectors like agricultural products, fertilizers and medical products, it added.

Further ambitions:

— Putin said Russia’s trade turnover with Africa doubled in the past five years to total more than $20 billion. 

— “I believe we can easily at least double the volume of trade within the next four to five years,” he said.

— Russia lags far behind its geopolitical competitors on this new frontier. Bloomberg compares its $20 billion trade volume with Africa to the European Union’s $334 billion and China’s $204 billion and said it equals around one-third of the United States’ trade volume.

What experts are saying about the summit's significance:

Samuel Ramani, doctoral researcher in international relations at the University of Oxford specializing on Russian foreign policy: 

— “The summit in Sochi is a significant development for Russia's power projection ambitions on the world stage.”

— “It also acknowledges Russia as a significant power in Africa, at a time when the US is disengaged from the continent, the EU is divided on how to approach it and China is strengthening its hegemony. This summit marks Russia's arrival as a continent-wide player.”

— “But whether or not it is political theatre/PR or a genuine strategic game-changer lies in the economic deals that are actually crystallized from the summit.”

Anna Arutunyan, senior Russia analyst at the International Crisis Group NGO, tweeted:

— “I think what [it] comes down to is Russia exporting sovereignty. ... In a nutshell, we are going to sell you cheap weapons, do business deals with you, set up partnerships, all under the umbrella of helping you be strong and independent — and stand up to the West.“

— “The difference with the Soviet, ideologically driven approach is that Russia is not hiding its primary driver — self-interest. And is not nearly invested enough to want to impose much. African participants, meanwhile, speak of Russia offering partnerships, not aid.”

— “Russia's actions look suspicious to the West because it doesn't see what's driving them. But I'm not seeing a hidden cache of motivations here. Sure, Russians talk of doing good. Sure, they want influence. Who wouldn't. But this is about selling stuff. They're not hiding that.”

Sources: Reuters | TheMoscow Times | JIC Media