Russia is using its increasingly close relationship with Mozambique to push for a naval base and energy extraction deals in the country. Russia used a business forum between the two countries earlier this year to waive 95% of the debt it is owed by Mozambique. In return, Russia's state-owned energy firm Rosneft is seeking to add to its three licensed liquified natural gas exploration blocks in the country, with Mozambique's president, Filipe Nyusi, encouraging Gazprombank to expand its investment in the sector. Moscow’s VTB Bank is demanding repayment of its loan (over $500 million) by the end of the year (Clubofmozambique.com, September 9). The Russian government has also been active on the African continent, where Moscow has invested heavily since the end of the Cold War.
Russia is using its increasingly close relationship with Mozambique to push for a naval base and energy extraction deals in the country. Russia used a business forum between the two countries earlier this year to waive 95% of the debt it is owed by Mozambique. In return, Russia's state-owned energy firm Rosneft is seeking to add to its three licensed liquified natural gas exploration blocks in the country, with Mozambique's president, Filipe Nyusi, encouraging Gazprombank to expand its investment in the sector. The Russian government has also been active on the African continent, where Moscow has invested heavily since the end of the Cold War.