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Putin decries "debt slavery" and calls for African economic sovereignty at Moscow summit

The third Russia-Africa summit has commenced in Moscow, featuring delegations from 48 African countries. During his address, Russian President Vladimir Putin accused Western nations of attempting to subjugate Africa through "debt slavery." He advocated for a greater role for African nations within major international financial institutions, such as the World Bank and the IMF, to support their economic independence.

Putin emphasized Russia’s readiness to provide technological expertise in energy and water management, asserting that Russian companies aim to foster development rather than employ colonial-style tactics. With trade volumes between Russia and African states topping $27 billion in 2025, Moscow is looking to deepen its diplomatic and economic ties. The summit is expected to conclude with the signing of over 30 agreements and a new cooperation roadmap spanning 2027 to 2029.