Russia is deepening its energy footprint in Africa after signing agreements with Madagascar to establish a common economic zone that includes plans for strategic fuel storage facilities aimed at cushioning the impact of growing instability in the Middle East and tensions around the Strait of Hormuz.
The agreement, confirmed by Madagascar Prime Minister Mamitiana Rajaonarison during a strategic meeting with Russian Security Council chief Sergei Shoigu, is aimed at helping the Indian Ocean island nation secure fuel supplies at more competitive prices while reducing its exposure to global energy disruptions linked to geopolitical tensions in the Gulf region.
“One of the objectives is to counter the consequences of the crisis in the Middle East by creating facilities to store fuels in Madagascar at competitive prices,” Rajaonarison said in remarks to Sputnik Africa.
The move comes as countries across Africa increasingly reassess their energy security strategies amid fears that instability involving Iran and the United States could disrupt oil flows through the Strait of Hormuz, one of the world’s most important maritime energy corridors.
Roughly a fifth of global oil trade passes through the narrow waterway, making any disruption a major risk to fuel-importing economies.
