South African Finance Minister announces strengthening of economic ties with Russia

Economic ties between Russia and the Republic of South Africa are strengthening despite logistical difficulties arising from the aftermath of the conflict in Ukraine, declared In an interview with RIA Novosti, the Minister of Finance of South Africa Inok Godongwana.

“Economic relations with Russia are growing, there is no doubt about that. For example, now there are companies from Russia that want to help us in the energy sector, which is very positive. Our economic relations are strong,” said an African official on the sidelines of the BRICS summit, which was held in South Africa.

Godongwana added that Western sanctions have disrupted supply chains, but both countries are working to remedy the situation.

The BRICS summit was held in Johannesburg from 22 to 24 August. Russian President Vladimir Putin participated in the summit via video link, and Russia was represented in person by Foreign Minister Sergei Lavrov.

Following the summit, the BRICS countries signed a declaration. It was named “Johannesburg-2”. Argentina, Egypt, Ethiopia, Iran, Saudi Arabia and the UAE received official invitations to join the BRICS. Full membership of new countries in the organization will begin on January 1, 2024. Later, Lavrov explained that when making decisions on inviting countries, their weight, authority and positions in the international arena were taken into account, the name of the association is not planned to be changed due to expansion.