By Samir BhattacharyaFrom 27-“https://african.business/2023/06/resources/russia-africa-summit-to-take-place-in-st-petersburg-from-26-29-july” July 2023, the second Russia-Africa Summit took place in Russia’s St Petersburg. Decoding the summit’s achievement: Advantage RussiaAfrica presently imports five times as much as it exports to Russia, resulting in a $12 billion trade imbalance. Following the 2019 Russia-Africa Summit, President Putin planned to increase Russia’s trade with Africa from roughly $16.8 billion to $40 billion annually within five years. African leaders are used to foreign leaders making bold promises but falling short of keeping them. The low attendance at the summit may also suggest that African leaders are readjusting their place in the multipolar world.

Source: The Guardian August 09, 2023 05:20 UTC