The head of the secretariat of the Russian-African Partnership Forum, Oleg Azorov, stated that Moscow is negotiating with many African countries regarding trade in national currencies, and said that it is a process that requires decisions from the concerned parties, and before him, Foreign Minister Sergey Lavrov stated that the partnership parties are preparing papers in this regard, in order to return Arranging the cooperation mechanism under Western sanctions.

And establishing the Russian-African partnership, Russia called for the "Russian-African Economic Forum" in 2019, which was attended by all African countries (54 countries) and invited 10,000 participants, under the slogan "For Peace, Security and Development", where priority areas for economic cooperation were identified. Through which tangible results can be achieved in a short time, and include energy, infrastructure development, modern mining, mineral processing, agriculture, digital technology, exploration, science and education.

Russian presence in Africa

The size of the Russian economic presence in Africa remained modest compared to other countries. The volume of trade exchange reached its peak in 2018 and slightly exceeded $20 billion. At the same time, Russia canceled $20 billion in debt owed by a number of African countries, to encourage entering a new phase in which it will be achieved. Common interests.

In North Africa, Russia has entered into strong partnerships with:

  • Egypt:

    Russia is planning large projects in Egypt, the most important of which is the nuclear plant project in Dabaa, 300 km northwest of Cairo, at a cost of $25 billion, in addition to a project for an industrial economic zone in the Suez Canal at a cost of $7 billion. Trade exchange between the two countries represents a third of the trade exchange between the two countries. Russia and Africa.

  • Algeria:

    Algeria relies on Russia to arm its army, and the two countries have a strategic partnership and cooperation in the field of energy.

  • Morocco:

    The relations of the two parties are based on the agreement of the century, according to which Russia imports phosphates from Morocco, and a strategic partnership agreement was signed in 2016.

  • Sub-Saharan Africa:

    Russia focuses on investment in energy and precious metals with sub-Saharan Africa. Russia's trade with this group amounts to $3 billion, but it is counting on developing it in the future, as the GDP of these countries is expected to reach $1 trillion by 2050.

  • South Africa:

    It is considered one of Russia's strategic partners. Russia works in the field of uranium extraction and energy generation there.

  • Mozambique:

    Exxon Mobil and RN Exploration, which are affiliated with Rosneft, are working in gas production in northern Mozambique, with estimated reserves of 2.2 trillion cubic meters.

  • Zambia

    : The Russian "Rosatom" corporation is working to establish a center for atomic energy, science and technology.

  • Gabon:

    Rosneft signed a memorandum with the Ministry of Oil to jointly invest in oil fields and build oil and gas infrastructure.

  • Guinea:

    The Russian company "Rusal" is investing $300 million in aluminum production.

The Russian company "Renova" has investments in the field of minerals in South Africa, Gabon and Mozambique with more than one billion dollars, and the "Gazprom" company is investing in gas projects and construction of pipelines and infrastructure with an amount of 500 million dollars in various African countries.

Lukoil has investments worth one billion dollars in oil production in West Africa.

Russian motives for the adoption of local currencies

Russia is aware of the importance of achieving a position for its local currency in the global economy, especially in light of the increasing sanctions against it day after day, and therefore it is driven by several factors:

  • Reducing Western sanctions

    : Since the outbreak of the war in Ukraine, Western countries have imposed harsh sanctions targeting the Russian energy, financial and technology sectors, in addition to freezing the assets of many Russian businessmen, and the withdrawal of major foreign companies from the market there.

  • Expanding economic partnerships and internationalizing the Russian currency

    : Russia aims, through the step of including more foreign currencies with the Russian Central Bank, to attract more economies by reducing dependence on the dollar, and the inclusion of the ruble in the corresponding banks gives its currency an international character.

  • Confronting the hegemony of the dollar

    : Russia seeks - with all its might - to disengage from the dollar's control, and thus search for alternatives that the United States does not control, and to a multipolar world, and plans to create a system in which currencies other than the dollar are included, which could lead to Facilitate bilateral trade transactions using local currencies instead of relying on the dollar.

American confrontation of Russia's tendencies

In view of the Russian moves to build economic partnerships in Africa on a new pattern in which the dollar is not present, the United States and its Western allies seemed to be in a hurry to arrange their cards in Africa and announce new plans:

  • In 2022, the US House of Representatives passed a bill imposing sanctions against Russian activity in Africa and penalties for African countries cooperating with it.

  • The United States considers investment to be the vital tool for "turning the scenario" of many American and European efforts and building investment partnerships with African countries.

  • Stabilizing African democracies by enabling them to meet the needs of their people, strengthening institutions, and integrating them into the international community.

  • That the Group of Seven implement the Partnership for Global Infrastructure and Investments worth $700 billion, with the European Union investing $150 billion in infrastructure by 2027.

In addition to the sanctions imposed by the US Treasury on those it considers involved in destabilizing Africa in coordination with its European partners, and sanctions on official and semi-official Russian banks and African investors who deal with them.

Breaking the Western Ring

Russia, with its African partners, is preparing for another summit next July to delineate new directions and enter the practical field, while it is wrestling with sanctions and racing against time.

But they realize - as Foreign Minister Lavrov said - that this issue is not a quick process, but it is progressing and gaining momentum, and the reason for this is that many African countries welcome these efforts, because they provide them with ample space to escape from the grip of the dollar in light of inflation and the large deficit that countries suffer from. Africa due to the effects of the pandemic, climatic changes, and the Russian war in Ukraine, and the Russian orientations also support the desire of many African countries to join the BRICS economic organization and to adopt the currencies of the participating countries in transactions.