Rising KashmirRising KashmirRising Kashmir
  • Home
  • Top Stories
  • News
    • Kashmir
    • City
    • Jammu
    • Politics
  • Health
  • Anchor
  • Features
  • Interview
  • Video
Search

Archives

  • June 2025
  • May 2025
  • April 2025
  • March 2025
  • February 2025
  • January 2025
  • December 2024
  • November 2024
  • October 2024
  • September 2024
  • August 2024
  • July 2024
  • June 2024
  • May 2024
  • April 2024
  • March 2024
  • February 2024
  • January 2024
  • December 2023
  • November 2023
  • October 2023
  • September 2023
  • August 2023
  • July 2023
  • June 2023
  • May 2023
  • April 2023
  • March 2023
  • February 2023
  • January 2023
  • December 2022
  • November 2022
  • October 2022
  • September 2022
  • August 2022
  • July 2022
  • June 2022
  • May 2022

Categories

  • Anchor
  • Breaking
  • Business
  • City
  • Developing Story
  • Editorial
  • Education
  • Features
  • Health
  • Interview
  • Jammu
  • Jammu and Kashmir News
  • Kashmir
  • Kashmir Tourism
  • Kath Bath
  • National
  • Opinion
  • Politics
  • Sports
  • Technology
  • Top Stories
  • Trending
  • Uncategorized
  • Video
  • Viewpoint
  • World
© 2022 Foxiz News Network. Ruby Design Company. All Rights Reserved.
Reading: Putin in Vietnam
Share
Notification Show More
Font ResizerAa
Rising KashmirRising Kashmir
Font ResizerAa
  • Home
  • Top Stories
  • News
  • Health
  • Anchor
  • Features
  • Interview
  • Video
Search
  • Home
  • Top Stories
  • News
    • Kashmir
    • City
    • Jammu
    • Politics
  • Health
  • Anchor
  • Features
  • Interview
  • Video
Follow US
© 2024. All Rights Reserved.
Rising Kashmir > Blog > Editorial > Putin in Vietnam
Editorial

Putin in Vietnam

RK News
Last updated: July 5, 2024 12:41 am
RK News
Published: July 5, 2024
Share
5 Min Read
SHARE

After creating ripples across the Asia-Pacific in the aftermath of Russia signing the Comprehensive Strategic Treaty with North Korea, Putin visited Vietnam on 20 June 2024, after a gap of seven years. A lot has changed since then: a war in Ukraine and the Western sanctions have led to Southeast Asia gaining a new emphasis in Russian foreign policy, as reflected in the Russian Concept of Foreign Policy 2023, where a significant emphasis was laid on increasing economic, security and humanitarian cooperation with ASEAN member states. Hence, it is important to assess the implications of the visit not only from the point of view of understanding bilateral relations but also to understand what it means for the Southeast Asian region. Russia and Vietnam share historical ties, Moscow supported the communist forces during the Vietnam War and was the leading economic partner for Vietnam. After the dissolution of the Soviet Union, there was a slight dip in bilateral ties in the 1990s, but the warm relations continued. In 2001, when Putin visited Hanoi, both nations concluded a strategic partnership, deepening economic and political cooperation. Cooperation in the energy sphere intensified after the Russian gas giant Gazprom and Petrovietnam built a modern refinery. Further, Petrovietnam has been implementing projects in the Nenets Autonomous Okrug in the Russian Arctic since 2008. Moscow has assisted Vietnam in building hydroelectric projects such as the Son La hydropower plant. Vietnam has strategically used Russian firms and investments in oil drilling projects in the South China Sea. By doing so, Vietnam can maintain its sovereignty and keep China at bay. The military partnership with Russia is another major driver in this dyad, with Moscow supplying Hanoi with military platforms such as the Su-27, Su-30 MKI, S-300 missile system, corvettes, Gepard class frigates, Svetlyak-class patrol boats, Kilo-class submarines, T-90 tanks, etc. In 2012, Russia concluded a Comprehensive Strategic Treaty in 2012. Hanoi was the only Southeast Asian nation to sign a Free Trade Agreement (FTA) with the Eurasian Economic Union. A military agreement was signed in 2016, and Russia has been granted access to the Cam Ranh Naval Base on a preferential basis. During this visit, Putin and Vietnamese President To Lam signed 11 agreements in education, nuclear technology research, disease prevention, oil exploration, and justice. The meeting witnessed the participation of leading Russian companies like the state-owned nuclear company Rosatom, the natural gas company Novatek, and the state-controlled oil company Zarubezhneft. Among the important ones, a joint statement on furthering strategic cooperation between Russia and Vietnam was signed. An MoU between Novatek and PetroVietnam on oil and gas cooperation was also inked, whereby Moscow will help build a 10 MW nuclear research facility in Vietnam and another agreement on cooperation on tax administration and countering customs offences. According to President Putin, 40 percent of the trade took place in national currencies, and that cooperation in the Vladivostok and Ho Chi Minh maritime corridor is promising. Moscow’s outreach to North Korea was largely geopolitical. But his visit to Vietnam has strong geoeconomic undertones with a hint of symbolism. This is because there is a degree of economic dependence due to historical ties, even though bilateral trade was only US$3.6 billion in 2023, which is far less than the US$175 billion trade with China and US$123 billion with the US and is not a major source of trade for Vietnam. Now, with the imposition of international sanctions on Russia, the trade potential will be even lower. But Hanoi is still a crucial partner, as some Vietnamese banks continue to process ruble transactions. Vietnam emerged as a major destination for Russian tourists, with Vietnam ranking 6th in the number of tourists it receives. With the initiation of the Russian concept of Foreign Policy 2023, the Russian Federation emphasises heightened cooperation with ASEAN countries. As part of its broader Look East policy proposed a decade ago, ASEAN is further a target region within the ambit of Russia’s Greater Eurasian partnership, connecting the Far East with Southeast Asia, and therefore Vietnam emerges as a major player in Russia’s outreach to Southeast Asia. This visit solidifies Russia’s relations with Vietnam while signalling growing multipolarity in the foreign policies of Southeast Asian nations.

India’s Space Diplomacy
India’s Increasing Global Influence
Celebrate Children’s Day by Eradicating Child Labor
Rahul Gandhi Bats for Congress in J & K
Upskilling youth for brighter future

Sign Up For Daily Newsletter

Be keep up! Get the latest breaking news delivered straight to your inbox.
By signing up, you agree to our Terms of Use and acknowledge the data practices in our Privacy Policy. You may unsubscribe at any time.
Share This Article
Facebook Whatsapp Whatsapp Copy Link Print
Previous Article Dr. Yasmeen Ashai appointed as Dean Academic Affairs at Cluster University of Srinagar
Next Article Ukraine’s Peace Formula Went to Pieces
Leave a Comment Leave a Comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Stay Connected

1MFollowersLike
262kFollowersFollow
InstagramFollow
234kSubscribersSubscribe
Google NewsFollow

Latest News

“Israel has refrained from additional attacks,” says Israeli PMO amid reports of ceasefire violations
Breaking World
June 24, 2025
“China can now continue to purchase oil from Iran”: Trump after Iran-Israel ceasefire deal
Breaking World
June 24, 2025
Trump reinstates
Iran will never rebuild nuclear facilities, sites are under rock, says Trump as he warns Israel not to “drop those bombs”
Breaking World
June 24, 2025
J&K Police initiates Probe into Incident involving Parade of theft suspect in Jammu
Breaking Jammu
June 24, 2025

Recent Posts

  • “Israel has refrained from additional attacks,” says Israeli PMO amid reports of ceasefire violations
  • “China can now continue to purchase oil from Iran”: Trump after Iran-Israel ceasefire deal
  • Iran will never rebuild nuclear facilities, sites are under rock, says Trump as he warns Israel not to “drop those bombs”
  • J&K Police initiates Probe into Incident involving Parade of theft suspect in Jammu
  • LG Sinha chairs 75th Meeting of Shri Mata Vaishno Devi Shrine Board 

Recent Comments

  1. Shah on Relief for Employees: J&K Bank Fixes EMI-Credit Mismatch, says JK Bank Chairman
  2. Latif khan on Why Kashmir needs Stronger Private Healthcare and Health Insurance
  3. Sameer farooq mir on Qazi Irfan assumes charge as RTO Kashmir
  4. Captain Vikrama on CM Omar Abdullah hails historic feat as three Kashmiri Girls crack IIT-JEE Advanced
  5. BASHIR AHMAD BHAT on Poor hotel accommodation, lack of medical facilities irk Kashmiri pilgrims in Saudi Arabia, video goes viral

Contact Us

Flat No 7,Press Enclave, Srinagar, 190001
0194 2477887
9971795706
[email protected]
[email protected]

Quick Link

  • E-Paper
  • About Us
  • Contact Us

Top Categories

Stay Connected

1.06MLike
262.5kFollow
InstagramFollow
234.3kSubscribe
WhatsAppFollow
Rising KashmirRising Kashmir
Follow US
© 2025. All Rights Reserved.
Welcome Back!

Sign in to your account

Username or Email Address
Password

Lost your password?