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Oil, Diamonds, Nuclear Power: Russia Eyes Africa Business

Oil, Diamonds, Nuclear Power: Russia Eyes Africa Business

While Russia has traditionally focused on arms and grain exports to Africa, it is now looking to broaden its activities and influence.

Here are four sectors likely to be discussed at the Russia-Africa Summit set for next Wednesday and Thursday in the Black Sea resort of Sochi.

Oil and gas
Russia is one of the world’s top hydrocarbon producers and exporters through energy giants like Gazprom, Rosneft and Lukoil.

But with 65 percent of its territory covered with permafrost, exploration and extraction are costly, so Russia is eyeing up promising reserves in Africa.

Gazprom is working in Algeria, where …