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Russia's Putin praises Vietnam for its stance on Ukraine

Russia's President Vladimir Putin applauded Vietnam for its balanced stance on the Ukraine war and noted development on payments, energy and sell an viewpoint piece published on Wednesday in the newspaper of Vietnam's Communist Celebration.

In the piece timed for Putin's state see to Vietnam, he applauded the Southeast Asian Communist-ruled nation for supporting a pragmatic way to resolve the crisis in Ukraine, in comments released in the Nhan Dan newspaper.

Vietnam, which formally pursues a neutral foreign policy in its relations with major world powers, has actually abstained from condemning Russia's attack on Ukraine, a position that Western countries have considered as too close to the Kremlin.

Putin is because of get here in Hanoi overnight, and plans to fulfill Vietnamese leaders on Thursday, on the heels of a journey to North Korea.

The Russian leader, who is making his first see to Vietnam considering that 2017 when he participated in an Asia-Pacific Economic Cooperation ( APEC) summit, stated Russia and Vietnam also shared similar. evaluations of the circumstance in the Asia-Pacific region.

Vietnam's position on the South China Sea differs from that. of China which declares the strategic waterway almost entirely as. its own, including gas and oil fields in Vietnam's Exclusive. Economic Zone where Russian business draw out oil and gas.

ENERGY AND PAYMENTS

Putin stated energy was an area of strategic importance in. bilateral cooperation and pointed out Russia-Vietnam joint ventures. on fossil fuels in the South China Sea and in northern Russia.

Gazprom also runs gas fields in Vietnam, he. noted. Russian energy firm Novatek plans to release. melted natural gas (LNG) projects in Vietnam, Putin stated. without elaborating.

He likewise pointed out an effort to develop a Centre for. nuclear science and technology in Vietnam with the assistance of. Rosatom, Russia's state-owned nuclear energy giant.

About a years back, Vietnam suspended a strategy to establish a. nuclear reactor and it is unclear whether it plans to. reassess that position. South Korea and Canada are among. countries that have actually proposed atomic energy choices to Vietnam,. according to people acquainted with the matter.

Putin likewise applauded development on financing and trade.

Settling payments in between the 2 countries was made complex. by Western sanctions on Russian banks, and the concern has long. been a concern in bilateral conferences, officials have stated.

Vietnam is traditionally a big importer of Russian weapons.

Putin stated deals in roubles and Vietnamese dong. accounted for 60% of bilateral trade payments in the first. quarter of this year, up from more than 40% last year.

Vietnam-Russia Joint Venture Bank plays an important function. in making sure trustworthy financial deals, Putin composed,. describing a Hanoi-based lender set up in 2006.

He also kept in mind that bilateral trade was increasing.

However Vietnam's trade with Russia stays minimal and the. United States and China are Hanoi's main trading partners.

(source: Reuters)