'The West is using terrible terms to interfere, rob and run Africa back into debt abyss' — Russian President Putin

Russian President Vladimir Putin has accused Western countries of using economic sanctions, trade restrictions and unfavourable financing conditions to undermine Africa’s development and keep its economies dependent on external support.

Addressing African leaders at the third Russia-Africa Summit in Moscow, Putin alleged that Western powers were attempting to push African countries back into debt dependence by attaching harsh conditions to financial assistance.

The 2-day summit has brought together delegations from 48 African countries to discuss cooperation in trade, investment, security, agriculture, technology and other strategic sectors.

Putin placed debt sustainability, industrialisation and economic sovereignty at the centre of his address, as African governments seek funding for development projects while managing debt obligations and pursuing stronger economic integration across the continent.

He accused Western countries of pressuring African nations to accept financial assistance on exploitative terms, leaving them struggling to repay debts at the expense of development priorities.

“When they managed to enrich themselves at the expense of others, they are resorting to things as illegitimate sanctions, tariff wars, blackmail, interference in the domestic affairs of others. They are also trying to run the Africans back into the debt abyss.

“They are trying to impose resources on them, but on terrible terms, which are tantamount to robbery. And the African countries have to repay these debts to the detriment of developmental plans,” he said.

The Russian leader also criticised the use of tariffs, sanctions and other forms of economic pressure, arguing that such measures were intended to preserve external influence over African economies.

Citing figures on the continent’s economic structure, Putin said manufacturing contributes less than 2 per cent to Africa’s value addition, while intra-African transactions account for only about 15 per cent of the continent’s estimated $1.5 trillion in annual trade.

He identified the African Continental Free Trade Area (AfCFTA) as a key instrument for expanding trade among African countries, strengthening industrial collaboration and promoting economic independence.

“Right now, the added value in manufacturing of Africa stands at less than 2 per cent, whereas the overall trade of African countries amounts to $1.5 trillion U.S. dollars. And just 15 per cent is accounted for by the transactions within the African continent.

“And yet the situation is shifting thanks to the success of the AfCFTA. A contribution is made to production and cooperation in industry to gain economic independence,” he stated.

Putin further indicated that Russia was prepared to share its technological expertise with African countries, support infrastructure development and deepen cooperation in agriculture.

He disclosed that Russia supplied approximately 13 million tonnes of agricultural products to Africa in the first 9 months of 2026, adding that more than 40 African countries received Russian grain and fertilisers.

On debt relief and development financing, Putin said Moscow was supporting initiatives aimed at improving Africa’s debt situation and providing funding for economic growth.

“Russia is helping improve the debt situation in Africa. We have a number of joint programmes with a number of African countries. And these programmes are meant to lend money to finance growth,” he said.

He also called for African countries to have greater representation and influence in international financial institutions, particularly the International Monetary Fund and the World Bank, arguing that their decision-making structures should better reflect the interests of developing economies.