Vietnam PM visits Russia to sign energy deal amid Iran war disruption
Since the US-Israel war against Iran began, the cost of 95-octane petrol and diesel in Vietnam has soared by 50 per cent and 70 per cent respectively.
Vietnam’s prime minister left on Sunday for an official visit to Russia during which the two nations will sign several agreements, including on oil and gas cooperation, Hanoi said.
Prime Minister Pham Minh 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.
His visit will focus on deepening ties with Russia and expanding cooperation in trade, investment and energy, Vietnam’s government said in a statement on Sunday.
“During this 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,” another statement from Hanoi said on Saturday.
“Cooperation in oil and gas energy will be reinforced in all fields of trade, exploration, extraction, and human resource training,” it added.
Since the US-Israel war against Iran began in late February, sparking fuel price hikes and fears of shortages around the world, the cost of 95-octane petrol and diesel in Vietnam, a manufacturing hub, has soared by 50 per cent and 70 per cent respectively.