Vietnam PM Visits Russia to Secure Energy Deals Amid Fuel Crisis

Prime Minister Pham Minh Chinh departed Hanoi on Sunday for a four-day official visit to Russia, with energy security and strengthened bilateral ties at the forefront of discussions, according to statements from both governments.

The visit, running from March 22-25, comes as Vietnam grapples with significant fuel price increases following disruptions to global supply chains triggered by the conflict in the Middle East. Since late February, prices for 95-octane petrol and diesel have risen by 50% and 70% respectively in the manufacturing hub, Hanoi has reported.

Vietnam’s government indicated that a series of agreements, including those pertaining to nuclear power projects and cooperation in the energy sector, specifically oil and gas, are slated to be signed during the trip. “Cooperation in oil and gas energy will be reinforced in all fields of trade, exploration, extraction, and human resource training,” a statement released Saturday affirmed.

The Vietnamese Prime Minister’s trip was undertaken at the invitation of Russian Prime Minister Mikhail Mishustin. Chinh is scheduled to meet with Mishustin on Monday, with discussions expected to center on Russian-Vietnamese trade and the implementation of joint projects in the energy sector and beyond, a Russian government statement released Thursday detailed.

This marks the first visit by a high-ranking Vietnamese leader to Russia in 2026. The official welcoming ceremony for Prime Minister Chinh was held at Vnukovo-2 International Airport in Moscow, chaired by Russian Deputy Minister of Foreign Affairs Andrey Yurevich Rudenko, according to reports from the airport on Sunday.

During a visit by Mishustin to Hanoi in January 2025, Russia expressed its readiness to participate in the development of a national nuclear power industry in Vietnam. At that time, the two nations also signed a deal on nuclear energy, with Vietnam outlining plans to construct a nuclear power plant within five years.

Prior to his departure, Prime Minister Chinh engaged in discussions with leaders from Qatar, Kuwait, Algeria, and Japan, seeking support to bolster Vietnam’s fuel reserves, Hanoi confirmed.

Vietnamese Ambassador to Russia Dang Minh Khoi accompanied the Prime Minister on the trip, along with Deputy Prime Ministers Tran Hong Ha and Bui Thanh Son, Minister-Chairman of the Government Office Tran Van Son, and Minister of Science and Technology Nguyen Manh Hung.