“Debt Slavery”…: “Russian President Putin Accuses The West Of Seeking To Subjugate Africa”

Russian President Vladimir Putin accused Western countries of trying to subjugate Africa through debt, during the proceedings of the “Russia-Africa” Economic and Humanitarian Forum, which  kicked off its work, today Wednesday, in Moscow.

Putin said that Western countries seek to return Africans to “debt slavery”, by imposing financing under unfair conditions, thereby burdening African countries with significant financial loads and forcing them to repay high debts at the expense of long-term development plans.

He added that the world is witnessing a transformation toward a more just international system, in which the voices of the majority of countries are heard, instead of one pole dominating international relations, emphasizing the importance of strengthening the independence of African countries in making their economic and financial decisions.

In the same context, Putin noted that the reliance of African economies on Western financial systems might limit the independence of their economic decisions, affirming Moscow’s readiness to expand cooperation with the continent’s countries in several fields, including energy, technology, and water resource management.

He also considered that Russian and African interests in the energy sector are complementary, and that the African continent possesses great potential qualifying it to be one of the global demographic growth centers, pointing to his country’s readiness to share expertise and technologies with African countries, especially in the field of rational management of water resources.

The Russian President  also referred to the issue of food security, considering that Africa possesses the elements that enable it to enhance its capacity to provide its food needs, while emphasizing the importance of establishing economic partnerships based on cooperation and the exchange of interests.

In this framework, Putin praised the continued efforts of a number of African countries in maintaining their relations with Russia, despite what he described as external pressures, confirming Moscow’s desire to develop cooperation with the continent’s countries and strengthen it in various fields.

The proceedings of the third Russian-African summit continue in Moscow on October 28 and 29, with the participation of representatives from 48 African countries out of 54, including 22 heads of state, alongside leaders of 10 regional organizations and about 4000 business people.

The summit aims, according to what was announced by the Assistant to the Russian President Yuri Ushakov, to expand areas of cooperation between Russia and African countries, enhance the sovereignty of African countries, and develop bilateral partnerships in various sectors.

The summit’s work revolves around 4 main areas, including sovereignty, building an independent global economic system, and social and humanitarian cooperation, alongside technology and innovation.

The meetings are expected to result in a number of documents and governmental agreements, as well as a final declaration and a declaration regarding cooperation in the field of artificial intelligence, and an action plan for the period extending between 2027 and 2029.

Regarding trade exchange, Russian Foreign Minister Sergey Lavrov announced that the volume of trade between Russia and African countries reached 27 billion dollars during 2025, in an indicator of the development of economic relations between the two sides.

The current summit comes as an extension of previous Russian-African summits, the first edition of which was hosted by the city of Sochi in 2019, while the second edition was held in Saint Petersburg in July 2023.