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Russia Assures Equatorial Guinea Strong Trade, Economic Ties

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Russia Equatorial Guinea

By Kestér Kenn Klomegâh

Russian President, Mr Vladimir Putin, has held talks with the Equatorial Guinean President, Mr Teodoro Obiang Nguema Mbasogo, who was in Moscow on an official working visit.

The visit could be characterized as historic and interpreted as one major step to broadly review the political situation in the Central African region, and specifically assess the prospects for deepening bilateral cooperation between Russia and Equatorial Guinea.

As the current rotating Chairman of the Economic Community of Central African States (ECCAS), the regional economic bloc uniting Cameroon, the Central African Republic, Chad, the Republic of Congo, Equatorial Guinea, Gabon, and São Tomé and Principe, Teodoro Obiang Nguema’s task, among others, is to oversee political governance and developments relating to regional integration within the seven-nation bloc.

Teodoro Obiang Nguema was at the residence Novo-Ogaryovo on November 2 as part of his scheduled trip to the Russian capital and held talks with President Putin.

According to official reports from the Kremlin’s website, the negotiations began with a tete-a-tete conversation between the leaders. Then international consultations continued in an expanded format with the participation of members of the delegations of the two countries, Russia and Equatorial Guinea.

According to Putin, Russia and Equatorial Guinea have many overlapping mutual interests. Russia’s relations with Africa are developing very intensively, as evidenced by the results of the Russia-Africa summit held in St. Petersburg.

During that summit, delegates from Equatorial Guinea held a number of serious meetings with Russian oil and gas and mining companies. But now, for Russia and Equatorial Guinea, the other priority is to focus on developing trade and economic ties.

The interest and opportunities for developing economic relations are good, as Russian companies look forward to working in Africa.

“We also talked about security issues, about relations with the countries of the region. We agreed on what and how we will do further in this area,” Putin underscored in his speech.

Taking his turn, Teodoro Obiang Nguema expressed appreciation for the invitation and further emphasized the fact that the world is facing enormous challenges in the area of international security. Obviously, Russia is a traditional and strategic partner of Equatorial Guinea and the African continent.

“And we must keep in mind that Russia contributed and fought for the liberation of African states to achieve political independence. This struggle should not be forgotten. Therefore, at the moment, especially at the UN level, when they want to take certain measures, Equatorial Guinea always votes against such proposals,” the Equatorial Guinean President told Putin.

Clearly, Africa is being heavily exploited at the moment. Africa needs to develop. More than a century has passed since Africa achieved independence, but the entire continent is still underdeveloped economically. Not because Africa cannot develop but because the natural resources are being used – are being exploited. And this hinders Africa’s development, he explained and added that, “Therefore, when Russia promises to send its businessmen to help Africa develop, we can only say: let them come. And Equatorial Guinea accepts this proposal with satisfaction.”

In addition, the Russian government has decided to reopen its embassy in Equatorial Guinea. Practical cooperation between Russia and Equatorial Guinea will then receive a fresh impetus, and facilitate the expansion of cooperation.

There are signs that Equatorial Guinea intends to expand defence cooperation with Russia. The implication is that this will lead to political development not only in Equatorial Guinea but also in Central Africa as the region faces security challenges in the Gulf of Guinea.

In addition, Africa is currently suffering from the activities of terrorists. Russia, as a key partner of Africa, must monitor the security of African countries so that they continue to fight against their weak level of development.

From experts’ analysis, Russia’s relations with Equatorial Guinea are only seeing real development now despite previously concluded agreements in various fields. For example, there have been no dynamics in trade turnover over the past 20 years, Nikita Panin, program coordinator at the Russian International Affairs Council and researcher at the Centre for African Studies at the Higher School of Economics (HSE University), told Financial Izvestia. According to him, the sides may have touched on cooperation in healthcare and education because students from Equatorial Guinea are already attending universities in Russia.

Later, the delegation had wider separate discussions. The agenda included the state and prospects of bilateral cooperation in various fields, as well as issues of developing Russia’s relations with the countries of the Central African region, taking into account Equatorial Guinea’s chairmanship of the Economic Community of Central African States (ECCA). But seemingly, Russia might not be keen on forging closer cooperation with the regional bloc as this particular organization is rather too weak compared to other subregional groups. Worse, these central African countries have sharply differing approaches to international agenda, further economic development and even disparities in the political environment.

Participants in Russian-Equatoguinean negotiations (in expanded format) were listed as follows: Teodoro Obiang Nguema Mbasogo – President of the Republic of Equatorial Guinea, Simeon Oiono Esono Angué – Minister of Foreign Affairs, International Cooperation and Diaspora Affairs of the Republic of Equatorial Guinea, and Alejandro Evuna Ovono Asangono – Minister of State for Special Assignments under the Administration of the President of the Republic of Equatorial Guinea.

Job Obiang Esono Mbengono – Minister for the Civil Service Cabinet under the Administration of the President of the Republic of Equatorial Guinea, Victoriano Bibang Nsue Okomo – Minister of National Defense of the Republic of Equatorial Guinea, Teodoro Biyogo Nsue Okomo – Assistant to the President of the Republic of Equatorial Guinea for Protocol Issues and Luciano Nkogo Ndong Ayekaba – Ambassador Extraordinary and Plenipotentiary of the Republic of Equatorial Guinea to the Russian Federation.

From the Russian side: Sergey Viktorovich Lavrov – Minister of Foreign Affairs of the Russian Federation, Alexey Logvinovich Overchuk – Deputy Prime Minister of the Russian Federation, Dmitry Sergeevich Peskov – Deputy Head of the Administration of the President of the Russian Federation, and Press Secretary of the President of the Russian Federation and Yuri Viktorovich Ushankov – Assistant to the President of the Russian Federation.

Nikolay Grigorievich Shulginov – Minister of Energy of the Russian Federation, Dmitry Evgenievich Shugaev – Director of the Federal Service for Military-Technical Cooperation, Alexander Vasilievich Fomin – Deputy Minister of Defense of the Russian Federation, Sergey Nikolaevich Gorkov – General Director of JSC Rosgeologiya and Alexander Alexandrovich Mikheev – General Director of JSC Rosoboronexport.

The two countries signed business agreements, including a declaration of intent on partnership in the field of mining. In many respects, both parties’ lengthy discussions highlighted the teething insecurity arising from political opposition and militant groups and development challenges facing countries in the region.

Russia has severally expressed concern over the growing diplomatic activity, examined possible ways to work collectively for economic development and to improve the lack of large-scale infrastructure to position the private sector as the primary engine for job creation.

At the meeting both parties identified commitment as the fundamental step along the path to the development in Equatorial Guinea, its regional integration which is essential for the economies of that zone in central Africa.

Teodoro Obiang Nguema currently heads the Economic Community of Central African States (ECCAS), a regional bloc that includes members such as Cameroon, the Central African Republic, Chad, the Republic of Congo, Equatorial Guinea, Gabon, and São Tomé and Principe.

Teodoro Obiang Nguema Mbasogo is an Equatoguinean politician and former military officer who has served as the second president of Equatorial Guinea since the overthrow of his uncle on August 3, 1979, in a bloody coup d’état. He is the longest-serving president of any country ever and the second-longest consecutively-serving current non-royal national leader in the world (after Paul Biya in Cameroon).

Teodoro Obiang Nguema’s rule was at first considered more humane than that of his uncle. By some accounts, however, it has become increasingly brutal, and has bucked the larger trend toward greater democracy in Africa. According to most domestic and international observers, he leads one of the most corrupt, ethnocentric and repressive regimes in the world.

Several international groups have called for Teodoro Obiang Nguema to observe the following:

* to increase fiscal transparency and accountability by publishing all government revenues, conducting and publishing annual audits of government accounts, including those abroad, and forcing officials to declare assets.

* disclose natural resource revenues, greatly increase spending to alleviate poverty, uphold political freedoms and rights

* to allow judicial practices to meet international standards and cease harassing and hindering his critics and further to allow foreign inspectors and groups to travel freely, unhindered and unharassed.

The constitution grants Obiang sweeping powers, including the power to rule by decree. The economy of this small nation continued to struggle under President Obiang, with the country depending mostly on foreign aid to pay its bills. This changed in 1995 when Exxon-Mobil, the American oil giant, discovered oil in the country. Massive offshore discoveries over the past decade have boosted oil to about 380,000 barrels per day, ranking Equatorial Guinea behind only Nigeria and Angola among Sub-Saharan African producers.

In Equatorial Guinea, despite its natural resources, the majority of the estimated 1.5 million population wallows in abject poverty. Subsistence farming predominates, with shabby infrastructure in the country. Equatorial Guinea consists of two parts, an insular and a mainland region. Equatorial Guinea is the third-largest oil producer in sub-Saharan Africa.

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Russia Renews Africa’s Strategic Action Plan

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Russia Africa's Strategic Action Plan

By Kestér Kenn Klomegâh

At the end of an extensive consultation with African foreign ministers, Russian Foreign Minister, Sergey Lavrov, has emphasized that Moscow would advance its economic engagement across Africa, admittedly outlining obstacles delaying the prompt implementation of several initiatives set forth in Strategic Action Plan (2023-2026) approved in St. Petersburg during the Russia-Africa Summit.

The second Ministerial Conference, by the Russian Foreign Ministry with support from Roscongress Foundation and the Arab Republic of Egypt, marked an important milestone towards raising bilateral investment and economic cooperation.

In Cairo, the capital city of the Arab Republic of Egypt, Lavrov read out the final resolution script, in a full-packed conference hall, and voiced strong confidence that Moscow would achieve its strategic economic goals with Africa, with support from the African Union (AU) and other Regional Economic blocs in the subsequent years. Despite the complexities posed by the Russia-Ukraine crisis, combined with geopolitical conditions inside the African continent, Moscow however reiterated its position to take serious steps in finding pragmatic prospects for mutual cooperation and improve multifaceted relations with Africa, distinctively in the different sectors: in trade, economic and investment spheres, education and culture, humanitarian and other promising areas.

The main event was the plenary session co-chaired by Russian Foreign Minister Sergey Lavrov and Egyptian Minister of Foreign Affairs, Emigration, and Egyptians Abroad Bashar Abdelathi. Welcome messages from Russian President Vladimir Putin and Egyptian President Abdelhak Sisi were read.

And broadly, the meeting participants compared notes on the most pressing issues on the international and Russian-African agendas, with a focus on the full implementation of the Russia-Africa Partnership Forum Action Plan for 2023-2026, approved at the second Russia-Africa Summit in St. Petersburg in 2023.

In addition, on the sidelines of the conference, Lavrov held talks with his African counterparts, and a number of bilateral documents were signed. A thematic event was held with the participation of Russian and African relevant agencies and organizations, aimed at unlocking the potential of trilateral Russia-Egypt-Africa cooperation in trade, economic, and educational spheres.

With changing times, Africa is rapidly becoming one of the key centers of a multipolar world order. It is experiencing a second awakening. Following their long-ago political independence, African countries are increasingly insisting on respect for their sovereignty and their right to independently manage their resources and destiny. Based on these conditions, it was concluded that Moscow begins an effective and comprehensive work on preparing a new three-year Cooperation and Joint Action Plan between Russia and Africa.

Moreover, these important areas of joint practical work are already detailed in the Joint Statement, which was unanimously approved and will serve as an important guideline for future work. According to reports, the Joint Statement reflects the progress of discussions on international and regional issues, as well as matters of global significance.

Following the conference, the Joint Statement adopted reflects shared approaches to addressing challenges and a mutual commitment to strengthening multifaceted cooperation with a view to ensuring high-quality preparation for the third Russia-Africa Summit in 2026.

On December 19-20, the Second Ministerial Conference of the Russia-Africa Partnership Forum was held in Cairo, Egypt. It was held for the first time on the African continent, attended by heads and representatives of the foreign policy ministries of 52 African states and the executive bodies of eight regional integration associations.

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TikTok Signs Deal to Avoid US Ban

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Forex Advice on TikTok

By Adedapo Adesanya

Social media platform, TikTok’s Chinese owner ByteDance has signed binding agreements with United States and global investors to operate its business in America.

Half of the joint venture will be owned by a group of investors, including Oracle, Silver Lake and the Emirati investment firm MGX, according to a memo sent by chief executive, Mr Shou Zi Chew.

The deal, which is set to close on January 22, 2026 would end years of efforts by the US government to force ByteDance to sell its US operations over national security concerns.

It is in line with a deal unveiled in September, when US President Donald Trump delayed the enforcement of a law that would ban the app unless it was sold.

In the memo, TikTok said the deal will enable “over 170 million Americans to continue discovering a world of endless possibilities as part of a vital global community”.

Under the agreement, ByteDance will retain 19.9 per cent of the business, while Oracle, Silver Lake and Abu Dhabi-based MGX will hold 15 per cent each.

Another 30.1 per cent will be held by affiliates of existing ByteDance investors, according to the memo.

The White House previously said that Oracle, which was co-founded by President Trump’s supporter Larry Ellison, will license TikTok’s recommendation algorithm as part of the deal.

The deal comes after a series of delays.

Business Post reported in April 2024 that the administration of President Joe Biden passed a law to ban the app over national security concerns, unless it was sold.

The law was set to go into effect on January 20, 2025 but was pushed back multiple times by President Trump, while his administration worked out a deal to transfer ownership.

President Trump said in September that he had spoken on the phone to China’s President Xi Jinping, who he said had given the deal the go ahead.

The platform’s future remained unclear after the leaders met face to face in October.

The app’s fate was clouded by ongoing tensions between the two nations on trade and other matters.

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United States, Russia Resolving Trade Issues, Seeking New Business Opportunities

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Kirill Dmitriev, CEO (RDIF) and Russian Presidents Special Envoy to United States

By Kestér Kenn Klomegâh

Despite the complexities posed by Russia-Ukraine crisis, United States has been taking conscious steps to improve commercial relations with Russia. Unsurprisingly, Russia, on the other hand, is also moving to restore and normalise its diplomacy, negotiating for direct connections of air-routes and passionate permission to return its diplomats back to Washington and New York.

In the latest developments, Kirill Dmitriev, Chief Executive Officer of the Russian Direct Investment Fund (RDIF), has been appointed as Russian President’s Special Envoy to United States. This marked an important milestone towards raising bilateral investment and economic cooperation. Russian President Vladimir Putin tasked him to exclusively promote business dialogue between the two countries, and further to negotiate for the return of U.S. business enterprises. According to authentic reports, United States businesses lost $300+ bn during this Russia-Ukraine crisis, while Russia’s estimated 1,500 diplomats were asked to return to Moscow.

Strategically in late November 2025, the American Chamber of Commerce in Russia (AmCham) has awarded Kirill Dmitriev, praised him for calculated efforts in promoting positive dialogue between the United States and Russia within the framework decreed by President Vladimir Putin. Chief Executive Officer of Russian Direct Investment Fund (RDIF) Kirill Dmitriev is the Special Representative of the Russian President for Economic Cooperation with Foreign Countries. Since his appointment, his primary focus has been on United States.

“Received an American Chamber of Commerce award ‘For leadership in fostering the US-Russia dialogue,’” Dmitriev wrote on his X page, in late November, 2025. According to Dmitriev, more than 150 US companies are currently operating in Russia, with more than 70% of them being present on the Russian market for over 25 years.

In addition, Chamber President Sergey Katyrin and American Chamber of Commerce in Russia (AmCham) President Robert Agee have also been discussing alternatives pathways to raise bilateral business cooperation. Both have held series of meetings throughout this year, indicating the the importance of sustaining relations as previously. Expectedly, the Roscongress Foundation has been offered its platforms during St. Petersburg International Economic (SPIEF) for the American Chamber of Commerce (AmCham).

On December 9, Sergey Katyrin and Robert Agee noted that, despite existing problems and non-economic obstacles, the business communities of Russia and the United States proceed from the necessity of maintaining professional dialogue. Despite the worsening geopolitical conditions, Sergey Katyrin and Robert Agee noted the importance of preserving stable channels of trade and pragmatic prospects for economic cooperation. These will further serve as a stabilizing factor and an instrument for building mutual trust at the level of business circles, industry associations, and the expert community.

The American Chamber of Commerce (AmCham) will be working in the system of the Chamber of Commerce and Industry (CCI) in the Russian Federation, which currently comprises 57,000 legal entities, 130 regional chambers and a combined network of representative offices covering more than 350 points of presence.

According to reports obtained by this article author from the AmCham, promising sectors for Russian-American economic cooperation include healthcare and the medical industry, civil aviation, communications/telecom, natural resource extraction, and energy/energy equipment. The United States and Russia have, more or less, agreed to continue coordinating their work to facilitate the formation of a more favorable environment for Russian and American businesses, reduce risks, and strengthen business ties. Following the American-Russian Dialogue, a joint statement and working documents were adopted.

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