Vietnam’s Prime Minister Pham Minh Chinh left Sunday for an official visit to Russia during which the two nations will sign several agreements, including on oil and gas cooperation, Hanoi announced.
Prime Minister Chinh’s trip to the major oil-producing nation from Sunday to Wednesday comes as Vietnam seeks to shore up its fuel reserves amid global supply disruptions due to the war in the Middle East. Since the US-Israel war against Iran began in late February, the cost of 95-octane petrol and diesel in Vietnam, a manufacturing hub, has soared by 50% and 70%, respectively.
Chinh held phone talks recently asking for fuel support from several countries, including Qatar, Kuwait, Algeria and Japan, according to Hanoi. He is scheduled to meet with his Russian counterpart, Mikhail Mishustin, on Monday, with discussions to focus on implementing joint projects in the energy and other sectors.
During a visit by Mishustin to Hanoi in January 2025, Russia said it was ready to participate in building a national nuclear power industry in Vietnam, and the two nations signed a nuclear energy deal at the time. Chinh said his country would aim to build a nuclear power plant within five years. During the current visit, a series of important agreements related to nuclear power plant projects, as well as cooperation in energy and oil and gas will be signed, Hanoi said.
