Russia’s investments in Sudan suffer from lack of funding: envoy

October 24, 2018 (KHARTOUM) – Russia’s Ambassador to Khartoum, Vladimir Zheltov, said the implementation of the Russian economic projects in Sudan is facing a number of obstacles particularly lack of funding.

In an interview with Sputnik News Service on Wednesday, Zheltov said despite the significant attention given by the Sudanese and Russian governments “these economic projects may be postponed indefinitely due to lack of money”.

He pointed out that funding always adversely impact on their desire to further economic cooperation, saying the role of the private sector is decisive to the success of economic projects.

Politically, Russia is seen as a major ally of the government of al-Bashir that faces isolation from the West. However, economic cooperation between the two countries has remained very low, with a trade balance that does not exceed $400 million.

In December 2015, Sudan and Russia signed 14 cooperation agreements in different domains, including oil, minerals and banks.

The agreements also include a concession contract between Sudan and the Russian Rus Geology to prospect for oil in Sudan’s Bloc E57 and another accord for the geological mapping of the Jebel Moya area, North Kordofan State.

(ST)