What is the core agreement signed between Russia and Vietnam regarding strategic oil storage?

Russian state-owned oil and gas company Zarubezhneft signed a framework agreement with Vietnam's state energy firm Petrovietnam on cooperation in a project to set up a strategic oil reserve in Vietnam; the agreement was signed during Vietnamese leader To Lam's state visit to Russia, and no timeline, reserve size, or financial terms were disclosed.

What did Russian President Vladimir Putin say about the strategic fuel reserve initiative in Vietnam?

Russian President Vladimir Putin stated, 'The Russian side has proposed that its partners consider the idea of jointly establishing strategic fuel reserves in Vietnam,' as quoted in his remarks after the talks with Vietnamese leadership.

Russia and Vietnam sign framework deal on strategic oil storage

Sep 9, 2026

Russian state-owned Zarubezhneft and Vietnam's Petrovietnam signed a framework agreement to establish strategic oil reserves in Vietnam during a high-level state visit, though project details remain undisclosed.

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Russia and Vietnam sign framework deal on strategic oil storage

Russia and Vietnam sign framework deal on strategic oil storage

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