Arab Finance: Trade volume between Egypt and Russia increased by 14% in the first eight months of 2026, exceeding $10 billion for the first time, Russian President Vladimir Putin revealed.

During a meeting with President Abdel Fattah El-Sisi at the Kremlin Palace, Putin added that Egypt accounts for a significant share of Russia’s trade with African countries, which has grown 1.5 times since 2022 to more than $27 billion.

For his part, El-Sisi reaffirmed Egypt’s commitment to strengthening its strategic partnership with Russia and expanding cooperation across various fields of mutual interest.

Both sides discussed developments in several joint strategic projects, including implementing the El Dabaa Nuclear Power Plant project and establishing a Russian Industrial Zone within the Suez Canal Economic Zone (SCZONE).  

Meanwhile, Russian Minister of Agriculture Oksana Lut said Russian traders are working to develop a grain hub in Alexandria to facilitate grain trade with Egypt.

Lut elaborated that Russian grain supplies to Egypt had declined due to logistical constraints in the Azov-Black Sea Basin.

"Considering transportation constraints in the Azov-Black Sea Basin as regards logistics, we certainly started supplying less grain to Egypt. We delivered 1.6 million metric tons during the start of the season. There were 3.5 million metric tons last year," the minister noted.