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Online Desk/

Russian President Vladimir Putin has waived more than $2 billion in debt owed to several African countries. He also said that Russia’s trade with Africa is constantly increasing.

Turkey’s official news agency Anadolu reported that the Russian leader made the announcement on Monday after attending a conference titled “Russia-Africa in a Multipolar World”.

Russia’s official news agency Tass reported that Putin said, “Russia has forgiven the debt of African countries for more than two billion dollars.”

The Russian leader said that the turnover of mutual trade between Russia and Africa is increasing year by year. At the end of last year it reached about 1 thousand 8 billion dollars.

Emphasizing the growth of Russia’s commercial relations with African countries at the conference, Putin also said that stronger conversion to national currencies in financial settlements and the establishment of new transport and logistics chains will facilitate the development of counter trade turnover.

Noting that trade between Africa and Russia exceeded $18 billion in 2022, the Russian leader said it was not enough. As we know, this trade volume is far from the maximum. Trade between the two regions will increase even more if imports and exports begin in their own currencies, excluding the dollar. Apart from this, it will also be possible to establish a comprehensive transport and logistics chain.