HANOI: The prime minister of Vietnam departed on Sunday for an official visit to Russia, where the two countries will sign a number of agreements, including ones pertaining to oil and gas cooperation, according to Hanoi.
Prime Minister Pham Minh Chinh will visit the major oil-producing country from March 22 to March 25 as Vietnam looks to bolster its fuel reserves in the face of disruptions in global supplies brought on by the Middle East conflict. Vietnam’s government said in a statement on Sunday that the main goals of his visit will be to strengthen relations with Russia and increase trade, investment, and energy cooperation.
Another statement from Hanoi said on Saturday that “a number of significant agreements related to nuclear power plant projects, as well as cooperation in energy and oil and gas, will be signed during this visit. It further stated that “cooperation in oil and gas energy will be reinforced in all fields of trade, exploration, extraction, and human resource training.”
In Vietnam, a manufacturing hub, the price of 95-octane gasoline and diesel has increased by 50% and 70%, respectively, since the start of the US-Israel war against Iran in late February, which sparked fuel price increases and concerns about shortages worldwide. According to Hanoi, Chinh recently had phone conversations with a number of nations, including Qatar, Kuwait, Algeria, and Japan, requesting petroleum assistance. According to Moscow, he will meet with Mikhail Mishustin, his Russian counterpart, on March 23.
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