Russia and Vietnam Sign Strategic Oil Reserve Deal

Sep. 9, 2026 Vladimir Putin welcomes Vietnam's President To Lam and his wife, Ngo Phuong in Kremlin. kremlin.ru Russia and Vietnam signed a framework agreement Wednesday to cooperate on establishing a strategic oil reserve in Vietnam, as the two countries moved to deepen energy ties during President To Lam’s visit to Moscow. Following talks with To Lam, President Vladimir Putin also said Russia was working to introduce visa-free entry for Vietnamese citizens “in the near future,” though he gave no timetable. Vietnam’s Deputy Foreign Minister Le Thi Thu Hang previously said Hanoi expected a “breakthrough” in Russian-Vietnamese oil, gas and nuclear power cooperation. To Lam, who last visited Moscow in May 2025 to attend the Victory Day parade on Red Square and sign a strategic partnership agreement with Russia, held a joint press briefing with Putin after talks between Vietnamese and Russian officials. In addition, Putin and To Lam presided over the formal launch of a joint infectious disease research laboratory via video link. During his three-day state visit to Moscow, which began Monday, To Lam has so far met with Russian Prime Minister Mikhail Mishustin, Security Council Deputy Chairman Dmitry Medvedev and upper-house Federation Council Speaker Valentina Matvienko. To Lam also met with Russian Communist Party leader Gennady Zyuganov, Russian war veterans and members of the Vietnamese diaspora at the embassy in Moscow, where he emphasized Vietnam’s transition toward diversified international integration. Russia remains Vietnam’s top arms supplier and is involved in nuclear power and South China Sea gas projects, including in waters also claimed by China, though Hanoi has been diversifying its military sourcing. Reuters contributed reporting. Read more about: Vietnam , Putin Sign up for our free weekly newsletter Our weekly newsletter contains a hand-picked selection of news, features, analysis and more from The Moscow Times. You will receive it in your mailbox every Friday. Never miss the latest news from Russia. Preview Subscribers agree to the Privacy Policy We sent a confirmation to your email. Please confirm your subscription. A Message from The Moscow Times: Dear readers, We are facing unprecedented challenges. Russia's Prosecutor General's Office has designated The Moscow Times as an "undesirable" organization, criminalizing our work and putting our staff at risk of prosecution. This follows our earlier unjust labeling as a "foreign agent." These actions are direct attempts to silence independent journalism in Russia. The authorities claim our work "discredits the decisions of the Russian leadership." We see things differently: we strive to provide accurate, unbiased reporting on Russia. We, the journalists of The Moscow Times, refuse to be silenced. But to continue our work, we need your help. Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just $2. It's quick to set up, and every contribution makes a significant impact. By supporting The Moscow Times, you're defending open, independent journalism in the face of repression. Thank you for standing with us. Once Monthly Annual Continue Not ready to support today? Remind me later. × Remind me next month Remind me Thank you! Your reminder is set. We will send you one reminder email a month from now. For details on the personal data we collect and how it is used, please see our Privacy Policy. Read more Vietnam’s PM Meets With Putin to Discuss Nuclear Power and Investment The Kremlin talks followed the signing this week of an agreement for Russia to help build a nuclear power plant in Vietnam. 1 Min read News Analysis Putin Makes Overtures to North Korea, Vietnam in Bid to Intimidate Ukraine’s Allies "This is a signal to the U.S. and other countries that we can create partnerships in other regions that are unpleasant," a government official told MT... 5 Min read Russia and Vietnam Vow to Strengthen Ties as Putin Visits Hanoi The Kremlin leader held talks with senior Vietnamese officials on Thursday, including Communist Party General Secretary Nguyen Phu Trong. 2 Min read Putin Calls For Creation of 'Independent Doping Commission' Russian President Vladimir Putin called on the Russian Olympic Committee to create an “independent commission on doping,” the RBC news website reported...