Russia and Vietnam Deepen Ties Following High-Level Talks

Russia and Vietnam strengthened their bilateral relationship on Saturday, signing 25 new agreements during a formal ceremony at the Kremlin. Among the most significant deals is a plan to construct a nuclear power plant in Vietnam, a move Russian President Vladimir Putin said would bolster Vietnam’s economic development.

The agreements were signed during a meeting between President Putin and General Secretary of the Communist Party of Vietnam, To Lam.

Speaking to reporters after the signing, Alexey Likhachev, CEO of Rosatom—Russia’s state nuclear energy corporation—confirmed that a site has already been selected in Vietnam’s southern Dong Nai Province, near Ho Chi Minh City. While the initial agreement covers the building of a nuclear research facility, both sides indicated that talks would continue toward a broader agreement on a full-scale nuclear power plant.

Likhachev added that Vietnamese specialists are currently working at Russian energy facilities in third countries, presumably as part of training programs ahead of domestic nuclear construction efforts.

In addition to nuclear cooperation, Russia and Vietnam also agreed to transition all bilateral trade to their respective national currencies, bypassing the U.S. dollar. Trade between the two countries has increased by 20% over the past year. The currency switch is seen as part of a broader global trend toward de-dollarization, which some analysts argue helps shield economies from the impact of U.S. sanctions.

Vietnam has often been viewed by Western powers as a potential strategic counterweight to China on the Asian mainland. However, many observers have long regarded such ambitions as unrealistic, given Vietnam’s historical emphasis on independence and resistance to foreign influence.

Marking the 50th anniversary of the fall of the U.S.-backed South Vietnamese government, Vietnam held a major parade in Ho Chi Minh City—formerly Saigon—featuring Chinese, Cambodian, Laotian, and Vietnamese troops marching together. Vietnamese forces also participated in Russia’s Victory Day parade on Friday, commemorating 80 years since the end of World War II in Europe.