World
Some Reflections on Russia’s Economic Policy with Africa
By Kestér Kenn Klomegâh
During the September ceremony to receive foreign ambassadors, Russian leader Vladimir Putin offered spiteful goal-setting policy outlines and some aspects of lofty Russia’s economic policy directions for Africa. Most of these directions considered significant have, over these years, featured prominently in all his previous speeches on Russia’s relations with Africa.
On September 20, in the St Alexander Hall of the Grand Kremlin Palace, Putin received letters of credence from 24 newly-arrived ambassadors, including nine from Africa (Algeria, Egypt, DR Congo, Libya, Mali, Senegal, Sudan, Tanzania and Uganda). By tradition, Putin briefly characterised the relations between Russia and countries whose envoys came to the Kremlin ceremony.
In a grandiose style, Putin gave a line-up of cheerful-looking ambassadors a step-by-step account of the global situation, the necessity for Russia’s “special military operation” in neighbouring Ukraine, questions relating to regional security, and economic instability due to rising prices for energy and commodities. He underscored the development of multipolar and more democratic and fair world order had entered its active phase.
“Regrettably, the objective movement towards multipolarity has come up against resistance from those trying to preserve their dominant role in international affairs and to control everything – Latin America, Europe, Asia and Africa,” Putin said.
Referencing the current international situation with an emphasis on the critical regional problems of the African continent and the bilateral relations of African countries whose ambassadors were accredited to the Russian Federation, Putin stressed “the importance of the upcoming second Russia-Africa summit in St. Petersburg in 2023 for strengthening diverse relations between Russia and African countries.”
Putin further touched on Moscow’s efforts to restore its geopolitical foothold on the continent after the historical collapse of the Soviet era. While the summit is considered a significant development for Russia’s power-wielding ambitions, Putin strongly reminded African ambassadors that the second Russia-Africa summit is scheduled to be held in St Petersburg in 2023. “We hope that together we will be able to give a new impetus to the comprehensive development of mutually beneficial cooperation between Russia and the African states,” he said.
Significant to note here that at the far end of the first summit, Russia and Africa issued a joint declaration; among the questions was to hold the summit every three years. Both Russia and Africa could not hold the summit during its third year, and both Russia and Africa failed to choose the summit venue. While reasons were not assigned for this sharp inconsistency, policy experts suggested either the Central African Republic (CAR) or the Republic of Mali could hold the summit. CAR and Mali are “reliable Russia’s partners,” and holding the summit would have resonating effects.
During his speech, Putin invited the President of Algeria Abdelmadjid Tebboune, to visit Russia. Understandably, Algeria is Russia’s second-largest trading partner in Africa regarding trade volume. And trade and economic cooperation continue to develop actively, as well as ties in other areas, including military-technical and cultural ties. Reports say Russia supports Algeria’s balanced regional and international affairs policy and continues to work together towards strengthening stability in the Middle East, North Africa and the Sahara-Sahel region.
“We consistently build friendly relations with Egypt under the fundamental Agreement on Comprehensive Partnership and Strategic Cooperation signed in 2018. We view Egypt as one of our most important partners in Africa and the Arab world. We are in constant contact with President Sisi,” according to Putin.
The intergovernmental commission has been working, promoting trade growth, which increased by more than 40 per cent in the first six months of this year. Large joint projects are being implemented, such as constructing the El Dabaa nuclear power plant and creating a Russian industrial zone near the Suez Canal. There is a regular political dialogue and close foreign policy coordination. Within the general policy framework, Russia does not grant concessionary loans and has not publicly allocated a budget for Africa.
But in this exceptional case, Russia and Egypt signed an agreement, and the total cost of construction is fixed at $30 billion. Russia provides Egypt with a loan of $25 billion, which will cover 85% of the work. The Egyptian side will cover the remaining expenses by attracting private investors. Under the agreement, Egypt is to start payments on the loan, which was provided at 3% per annum, in October 2029.
Ambassador Harouna Samake (Republic of Mali) was among the envoys in the Kremlin and listened attentively as Putin welcomed the intention of the leadership of the Republic of Mali to form a long-term strategic partnership with Russia and develop mutually beneficial ties.
During a detailed telephone conversation in August with Interim President Assimi Goïta, Putin agreed to continue joint efforts in countering international terrorism and religious extremism. He further pledged that Russia would continue to provide the Malian people with comprehensive assistance and support in various ways.
The same diplomatic rhetoric praised Russia’s relations with Uganda, one of Russia’s reliable partners in Africa. The United Republic of Tanzania has listed promising spheres such as peaceful nuclear research, transport, energy and tourism. These spheres have been on Russia’s list for many other African countries.
Over the years, Russia has performed dismally in Africa’s transport and energy sector. In theory, it has expressed heightened interest in exploring and producing oil and gas in Africa. But so far, its investment efforts are not seen in the region. Russia claims the leading position as an energy supplier and is now rapidly diversifying its products at discounted prices to the Asian market. Therefore, it is logical that African leaders should not expect much from the Russian Federation in this oil and gas (energy) sector.
Currently, all African countries have a serious energy crisis. Over 620 million in Sub-Saharan Africa do not have electricity out of 1.3 billion people. In this context, several African countries are exploring nuclear energy as part of the solution. Three decades after the Soviet collapse, not a single nuclear plant has been completed in Africa.
Some still advocate for alternative energy supply. Gabby Asare Otchere-Darko, Founder and Executive Director of Danquah Institute, a non-profit organization that promotes policy initiatives and advocates for Africa’s development, wrote in an email that “Africa needs expertise and knowledge transfer that can assist Africa to develop its physical infrastructure, add value to two of its key resources: natural resources and human capital.”
Russia has respectable expertise in one key area for Africa: energy development. “But, has Russia the courage, for instance, to take on the stalled $8-$10 billion Inga-3 hydropower project on the Congo river? This is the kind of development project that can vividly send out a clear signal to African leaders and governments that Russia is, indeed, ready for business,” he said in an interview discussion.
The renewable energy potential is enormous in Africa, citing the Democratic Republic of Congo Grand Inga Dam. Grand Inga is the world’s largest proposed hydropower scheme. It is a grand vision to develop a continent-wide power system. Grand Inga-3 is expected to have an electricity-generating capacity of about 40,000 megawatts – nearly twice as much as the 20 largest nuclear power stations. The cost of building nuclear power does not make sense when compared to the cost of building renewables or other energy sources to solve energy shortages in Africa.
With high optimism and a high desire to strengthen its geopolitical influence, Russia has engaged in sloganism, and many of its signed agreements have not been implemented. The joint declaration adopted at the first summit is intended to raise the African agenda of Russia’s foreign policy to a new level and remains the main document determining the conceptual framework of Russian-African cooperation. Many remain as submit paperwork. China, Japan, India, the United States, the European Union and other players are progressively implementing their African strategies.
Over the years, Russia has shown high interest in Libya, whose ambassador, Emhemed Almaghrawi (State of Libya), was part of the Kremlin ceremony in September. Over the years, Russia has struggled to improve its bilateral political and economic dialogue and cooperation with that North African country. It has faced many pitfalls and obstacles, though.
“We attach great importance to relations with Libya and are interested in a fair and lasting settlement of the protracted internal conflict in that country. Russia will continue to support Libya’s sovereignty and territorial integrity and help the friendly Libyan people defend their right to a decent life, peace and security. As the internal situation in Libya stabilises, we look forward to resuming bilateral cooperation in various fields,” Putin said.
Russian Foreign Minister Sergey Lavrov condemned the Atlantic alliance when he spoke to students at the Moscow State Institute of International Relations in Moscow on September 1. Russia claims it lost billions of dollars in energy, defence, and infrastructure contracts it had negotiated with the removal of Col. Qaddafi. Russia’s state arms exporter lost an estimated $4 billion in Libyan contracts after the UN Security Council imposed an arms embargo on Libya.
Russian Railways had secured a $3 billion contract to build a high-speed rail link from Sirt to Benghazi. Many of these contracts were either signed in Qaddafi’s presence or were organized by him. Russia’s state news agency ITAR-TASS estimates that the country could lose as much as $10 billion in business if Libya’s new leadership challenges the legality of the existing contracts.
As Anna Borshchevskaya, an Ira Weiner Fellow at the Washington Institute for Near East Policy, observes that military has been part of the foreign policy of the Russian Federation, and Russian authorities have been strengthening military-technical cooperation with some African countries.
“A major driver for Moscow’s push into Africa is military cooperation more broadly. These often include officer training and the sale of military equipment, though the details are rarely publicly available,” she acknowledges, “and it will continue so in Russia’s relations with Africa.
Russia has made significant arms deals with Angola and Algeria. Reports show that Egypt, Uganda, Tanzania, Somalia, Mali, Sudan and Libya have also bought arms from Russia. Small countries such as Burundi, Botswana, and Rwanda, with distinctively impoverished populations and budgetary limitations, have signed agreements. Russia also provides military training and support; it has defence orders worth $14 billion from African countries.
According to Nezavisimaya Gazeta, quoting military experts, Russia has much to gain by promoting and attempting to dispose of its Soviet-era military equipment in Africa. After all, Russia is self-sufficient and has economic independence, so with enthusiasm, convincing African leaders to purchase fertilizers and grains, thereby pushing them towards depleting their hard-earned revenues. Without a doubt, African leaders endlessly boast of vast uncultivated lands.
During these months of the Russia-Ukraine crisis and sanctions from the United States, Europe and Pacific allies, Russian diplomacy has repeatedly stressed that Moscow is ready to export 30 million tons of grain and over 20 million tons of fertilizer by the end of 2022.
According to local Russian media reports, the Russian Agriculture Ministry’s Agroexport Federal Centre for Development of Agribusiness Exports, in close partnership collaboration with Trust Technologies and the business expert community, drew up a business plan for the development of exports for agricultural products (grain, dairy, meat and confectionery products) to promising markets of African countries.
The project’s goal is to prepare a practice-oriented model for increasing supplies and enhancing the competitiveness of Russian agricultural goods in the African market. The report says nine African countries have been chosen as target markets for the delivery of agricultural products. These are Angola, Cameroon, Ethiopia, Ghana, Kenya, Mauritius, Nigeria, Tunisia and South Africa.
That report explicitly notes African leaders’ readiness to spend state budgets on food imports; without a doubt, “food security” is the central theme for the 2023 Russia-Africa summit. These countries account for 40% of the continent’s population and one-third of all African imports of agricultural products; Russia estimates to earn some $33 billion from Africa.
In practical terms, a microscopic analysis of Russia’s economic presence gives many interpretations and contradictions. While currently, Russia seems to be soliciting the support of Africa to lead the emerging new world order, Russia still does not recognize that it needs to adopt more public outreach policies to win the minds and hearts of Africans. Its economic footprint on the continent is comparatively weak. Instead of addressing its own investment agenda, it has consistently criticised other foreign players, especially the United States and European countries, that are active in Africa.
Many Russian companies have abandoned their projects in Africa. The latest is the lucrative platinum project contract that was signed for $3 billion in September 2014, the platinum mine is located about 50 km northwest of Harare, the Zimbabwean capital. The Darwendale project involves a consortium of the Rostekhnologii State Corporation, Vneshekonombank and Vi Holding in a joint venture with some private Zimbabwe investors and the Zimbabwean government.
After widely campaigning for the construction of what was referred to as the “Southern Oil&Gas Pipelines” that was supposed to connect three or four southern African countries, Russia’s Rosneft finally abandoned the project. And similarly, State Nuclear Enterprise Rosatom never mentioned again the proposed nuclear plant construction signed by Jacob Zuma of South Africa.
Russia’s Lukoil undertook exploratory feasibility studies in Sierra Leone, Nigeria, Cameroon and Ghana, only to abandon these projects. Nigeria’s Ajeokuta Steel Plant project remains a dream project for Russians. Norilsk Nickel (Nornickel), the Russian mining giant, ceased operations in Botswana. It owned a stake in the Tati Nickel in Botswana, where production was expected to reach its highest level. It has previously given a positive assessment of the possibilities for developing its production assets in South Africa and many African countries. There is a long list of Russian companies that under-performed or performed badly and finally exited Africa.
Just a few weeks before his departure from Moscow, the Zimbabwean ambassador to the Russian Federation, Brigadier General Nicholas Mike Sango, told me in an interview discussion that several issues could strengthen the relationship. One important direction is economic cooperation. African diplomats have consistently been persuading Russia’s businesses to take advantage of the Africa Continental Free Trade Area (ACFTA) as an opportunity for Russian businesses to establish footprints on the continent. This view has not found favour with them, and it is hoped over time, it will.
Although the government has not pronounced incentives for businesses to set sights and venture into Africa, Russian businesses generally view Africa as too risky for their investment. He said that Russia needs to set footprints on the continent by exporting its competitive advantages in engineering and technological advancement to bridge the gap that is retarding Africa’s industrialization and development.
“Worse is that there are too many initiatives by too many quasi-state institutions promoting economic cooperation with Africa saying the same things in different ways, but doing nothing tangible,” he told me during the lengthy pre-departure interview. He served the Republic of Zimbabwe in the Russian Federation from July 2015 to August 2022. He previously held various high-level posts, such as military adviser in Zimbabwe’s Permanent Mission to the United Nations and as an international instructor in the Southern African Development Community (SADC).
There are several similar criticisms from former ambassadors. According to Mandisi Mpahlwa, former South African Ambassador, Sub-Saharan Africa has understandably been low on post-Soviet Russia’s list of priorities, given that Russia is not as dependent on Africa’s natural resources as other major economies. The reason: Soviet and African relations, anchored as they were on the fight to push back the frontiers of colonialism, did not necessarily translate into trade, investment and economic ties, which would have continued seamlessly with post-Soviet Russia.
“Russia’s objective of taking the bilateral relationship with Africa to the next level cannot be realized without a close partnership with the private sector. Africa and Russia are close politically but geographically distant, and the people-to-people ties are still underdeveloped. This translates into a low level of knowledge on both sides of what the other has to offer. There is perhaps also a fear of the unknown in both countries,” Mpahlawa said in an interview after completing his ambassadorial duty in the Russian Federation.
Russia has a lot of policy weaknesses in Africa. Reports indicated that more than 90 agreements were signed at the end of the first Russia-Africa summit. Thousands of bilateral agreements are still on the drawing board, and century-old promises and pledges for supporting sustainable development are authoritatively renewed with African countries. Like a polar deer waking up from its deep slumber, Russia is flashing its geopolitical headlights in all directions on Africa.
Russia’s Ministry of Foreign Affairs website indicates that there have been several top-level bilateral meetings, signing of MoUs and bilateral agreements during the past years. In November 2021, a policy document titled the ‘Situation Analytical Report’ presented at the premises of TASS News Agency was very critical of Russia’s current policy towards Africa.
While the number of high-level meetings has increased, the share of substantive issues and definitive results on the agenda remains small. It explicitly points out the inconsistent approach in dealing with Africa. Russia lacks public outreach policies for Africa. Apart from the absence of a public strategy for the continent, there is a lack of coordination among various state and para-state institutions working with Africa.
Ultimately, actions, not words, will determine if upcoming Russia -Africa Summit and the proposed Africa strategy will reset relations with the continent. The significant fact here is that little has been achieved since the first Russia-Africa summit held in October 2019. According to the Russian Foreign Ministry’s Ambassador-at-Large and head of the Secretariat of the Russia-Africa Partnership Forum, Oleg Ozerov, food security will be one of the top issues on the agenda of the second Russia-Africa Summit.
It is a fact that Russia’s ties with Africa declined with the collapse of the Soviet Union in 1991. In the aftermath of the Soviet Union, Russia continues efforts in search of possible collaboration and opportunities for cooperation in the past years. But most essentially, Russians must understand clearly that little has been achieved in Africa. Several bilateral agreements signed with individual countries are not implemented, while in the previous years, there has been an unprecedented huge number of “working visits” to Africa.
According to our research findings, in stark contrast to key global players, for instance, the United States, China, the European Union and many others, Russia’s policies have little impact on African development paradigms. Russia’s policies have often ignored Africa’s sustainable development questions. Experts have repeatedly suggested Russia adopt an Action Plan – a practical document that would fill cooperation with substance between summits. In conclusion, Russians must strongly remember that Africa’s roadmap is the African Union Agenda 2063.
World
Today’s Generation of Entrepreneurs Value Flexibility, Autonomy—McNeal-Weary
By Kestér Kenn Klomegâh
The Young African Leaders Initiative (YALI) is the United States’ signature step to invest in the next generation of African leaders. Since its establishment in 2010 by Obama administration, YALI has offered diverse opportunities, including academic training in leadership, governance skills, organizational development and entrepreneurship, and has connected with thousands of young leaders across Africa. This United States’ policy collaboration benefits both America and Africa by creating stronger partnerships, enhancing mutual prosperity, and ensuring a more stable environment.
In our conversation, Tonya McNeal-Weary, Managing Director at IBS Global Consulting, Inc., Global Headquarters in Detroit, Michigan, has endeavored to discuss, thoroughly, today’s generation of entrepreneurs and also building partnerships as a foundation for driving positive change and innovation in the global marketplace. Here are the excerpts of her conversation:
How would you describe today’s generation of entrepreneurs?
I would describe today’s generation of entrepreneurs as having a digital-first mindset and a fundamental belief that business success and social impact can coexist. Unlike the entrepreneurs before them, they’ve grown up with the internet as a given, enabling them to build global businesses from their laptops and think beyond geographic constraints from day one. They value flexibility and autonomy, often rejecting traditional corporate ladders in favor of building something meaningful on their own terms, even if it means embracing uncertainty and financial risk that previous generations might have avoided.
And those representing the Young African Leaders Initiative, who attended your webinar presentation late January 2026?
The entrepreneurs representing the Young African Leaders Initiative are redefining entrepreneurship on the continent by leveraging their unique perspectives, cultural heritage, and experiences. Their ability to innovate within local contexts while connecting to global opportunities exemplifies how the new wave of entrepreneurs is not confined by geography or conventional expectations.
What were the main issues that formed your ‘lecture’ with them, Young African Leaders Initiative?
The main issues that formed my lecture for the Young African Leaders Initiative were driven by understanding the importance of building successful partnerships when expanding into the United States or any foreign market. During my lecture, I emphasized that forming strategic alliances can help entrepreneurs navigate unfamiliar business environments, access new resources, and foster long-term growth. By understanding how to establish strong and effective partnerships, emerging leaders can position their businesses for sustainable success in global markets. I also discussed the critical factors that contribute to successful partnerships, such as establishing clear communication channels, aligning on shared goals, and cultivating trust between all parties involved. Entrepreneurs must be proactive in seeking out partners who complement their strengths and fill gaps in expertise or resources. It is equally important to conduct thorough due diligence to ensure that potential collaborators share similar values and ethical standards. Ultimately, the seminar aimed to empower YALI entrepreneurs with practical insights and actionable strategies for forging meaningful connections across borders. Building successful partnerships is not only a pathway to business growth but also a foundation for driving positive change and innovation in the global marketplace.
What makes a ‘leader’ today, particularly, in the context of the emerging global business architecture?
In my opinion, a leader in today’s emerging global business architecture must navigate complexity and ambiguity with a fundamentally different skill set than what was previously required. Where traditional leadership emphasized command-and-control and singular vision, contemporary leaders succeed through adaptive thinking and collaborative influence across decentralized networks. Furthermore, emotional intelligence has evolved from a soft skill to a strategic imperative. Today, the effective modern leader must possess deep cross-cultural intelligence, understanding that global business is no longer about exporting one model worldwide but about genuinely integrating diverse perspectives and adapting to local contexts while maintaining coherent values.
Does multinational culture play in its (leadership) formation?
I believe multinational culture plays a profound and arguably essential role in forming the kind of leadership required in today’s global business environment. Leaders who have lived, worked, or deeply engaged across multiple cultural contexts develop a cognitive flexibility that’s difficult to replicate through reading or training alone. More importantly, multinational exposure tends to dismantle the unconscious certainty that one’s own way of doing things is inherently “normal” or “best.” Leaders shaped in multicultural environments often develop a productive discomfort with absolutes; they become more adept at asking questions, seeking input, and recognizing blind spots. This humility and curiosity become strategic assets when building global teams, entering new markets, or navigating geopolitical complexity. However, it’s worth noting that multinational experience alone doesn’t automatically create great leaders. What matters is the depth and quality of cross-cultural engagement, not just the passport stamps. The formation of global leadership is less about where someone has been and more about whether they’ve developed the capacity to see beyond their own cultural lens and genuinely value differences as a source of insight rather than merely tolerating them as an obstacle to overcome.
In the context of heightening geopolitical situation, and with Africa, what would you say, in terms of, people-to-people interaction?
People-to-people interaction is critically important in the African business context, particularly as geopolitical competition intensifies on the continent. In this crowded and often transactional landscape, the depth and authenticity of human relationships can determine whether a business venture succeeds or fails. I spoke on this during my presentation. When business leaders take the time for face-to-face meetings, invest in understanding local priorities rather than imposing external agendas, and build relationships beyond the immediate transaction, they signal a different kind of partnership. The heightened geopolitical situation actually makes this human dimension more vital, not less. As competition increases and narratives clash about whose model of development is best, the businesses and nations that succeed in Africa will likely be those that invest in relationships characterized by reciprocity, respect, and long-term commitment rather than those pursuing quick wins.
How important is it for creating public perception and approach to today’s business?
Interaction between individuals is crucial for shaping public perception, as it influences views in ways that formal communications cannot. We live in a society where word-of-mouth, community networks, and social trust areincredibly important. As a result, a business leader’s behavior in personal interactions, their respect for local customs, their willingness to listen, and their follow-through on commitments have a far-reaching impact that extends well beyond the immediate meeting. The geopolitical dimension amplifies this importance because African nations now have choices. They’re no longer dependent on any single partner and can compare approaches to business.
From the above discussions, how would you describe global business in relation to Africa? Is it directed at creating diverse import dependency?
While it would be too simplistic to say global business is uniformly directed at creating import dependency, the structural patterns that have emerged often produce exactly that outcome, whether by design or as a consequence of how global capital seeks returns. Global financial institutions and trade agreements have historically encouraged African nations to focus on their “comparative advantages” in primary commodities rather than industrial development. The critical question is whether global business can engage with Africa in ways that build productive capacity, transfer technology, develop local talent, and enable countries to manufacture for themselves and for export—or whether the economic incentives and power irregularities make this structurally unlikely without deliberate policy intervention.
World
Russia Expands Military-Technical Cooperation With African Partners
By Kestér Kenn Klomegâh
Despite geopolitical complexities, tensions and pressure, Russia’s military arms and weaponry sales earned approximately $15 billion at the closure of 2025, according to Kremlin report. At the regular session, chaired by Russian President Vladimir Putin on Jan. 30, the Commission on Military and Technical Cooperation with Foreign Countries analyzed the results of its work for 2025, and defined plans for the future.
It was noted that the system of military-technical cooperation continued to operate in difficult conditions, and with increased pressure from the Western countries to block business relations with Russia. The meeting, however, admitted that export contracts have generally performed sustainably. Russian military products were exported to more than 30 countries last year, and the amount of foreign exchange exceeded $15 billion.
Such results provide an additional opportunity to direct funds to the modernization of OPC enterprises, to the expansion of their production capacities, and to advanced research. It is also important that at these enterprises a significant volume of products is civilian products.
The Russian system of military-technical cooperation has not only demonstrated effectiveness and high resilience, but has created fundamental structures, which allow to significantly expand the “geography” of supplies of products of military purpose and, thus strengthen the position of Russia’s leader and employer advanced weapons systems – proven, tested in real combat conditions.
Thanks to the employees of the Federal Service for Military Technical Cooperation and Rosoboronexport, the staff of OPC enterprises for their good faith. Within the framework of the new federal project “Development of military-technical cooperation of Russia with foreign countries” for the period 2026-2028, additional measures of support are introduced. Further effective use of existing financial and other support mechanisms and instruments is extremely important because the volumes of military exports in accordance with the 2026 plan.
Special attention would be paid to the expansion of military-technological cooperation and partnerships, with 14 states already implementing or in development more than 340 such projects.
Future plans will allow to improve the characteristics of existing weapons and equipment and to develop new promising models, including those in demand on global markets, among other issues – the development of strategic areas of military-technical cooperation, and above all, with partners on the CIS and the CSTO. This is one of the priority tasks to strengthen both bilateral and multilateral relations, ensuring stability and security in Eurasia.
From January 2026, Russia chairs the CSTO, and this requires working systematically with partners, including comprehensive approaches to expanding military-technical relations. New prospects open up for deepening military-technical cooperation and with countries in other regions, including with states on the African continent. Russia has been historically strong and trusting relationships with African countries. In different years even the USSR, and then Russia supplied African countries with a significant amount of weapons and military equipment, trained specialists on their production, operation, repair, as well as military personnel.
Today, despite pressure from the West, African partners express readiness to expand relations with Russia in the military and military-technical fields. It is not only about increasing supplies of Russian military exports, but also about the purchase of other weapons, other materials and products. Russia has undertaken comprehensive maintenance of previously delivered equipment, organization of licensed production of Russian military products and some other important issues. In general, African countries are sufficient for consideration today.
World
Trump Picks Kevin Warsh to Succeed Jerome Powell as Federal Reserve Chair
By Adedapo Adesanya
President Donald Trump has named Mr Kevin Warsh as the successor to Mr Jerome Powell as the Federal Reserve chair, ending a prolonged odyssey that has seen unprecedented turmoil around the central bank.
The decision culminates a process that officially began last summer but started much earlier than that, with President Trump launching a criticism against the Powell-led US central bank almost since he took the job in 2018.
“I have known Kevin for a long period of time, and have no doubt that he will go down as one of the GREAT Fed Chairmen, maybe the best,” Mr Trump said in a Truth Social post announcing the selection.
US analysts noted that the 55-year old appear not to ripple market because of his previous experience at the apex bank as Governor, with others saying he wouldn’t always do the bidding of the American president.
If approved by the US Senate, Mr Warsh will take over the position in May, when Mr Powell’s term expires.
Despite having argued for reductions recently, “Warsh has a long hawkish history that markets have not forgotten,” one analyst told Bloomberg.
President Trump has castigated Mr Powell for not lowering interest rates more quickly. His administration also launched a criminal investigation of Powell and the Federal Reserve earlier this month, which led Mr Powell to issue an extraordinary rebuke of President Trump’s efforts to politicize the independent central bank.
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