Energy cooperation is emerging as one of the key pillars of Vietnam-Russian Federation relations, carrying a long-term vision and deep strategic significance for both countries. In March, the two sides officially signed an intergovernmental agreement on cooperation in building a nuclear power plant in Vietnam. Both countries view this as an important step in advancing peaceful nuclear energy cooperation while also expecting it to become a new symbol helping to strengthen and deepen the traditional friendship between Vietnam and the Russian Federation. 

Ensuring supplies

According to Associate Professor Konstantin Simonov from the Financial University under the Government of the Russian Federation, global energy demand is increasingly moving toward Asia. In the current energy mix, oil, coal, and natural gas continue to play dominant roles. In particular, the high economic growth of countries in the region require oil and gas supplies that are stable, continuous, and reliable, to meet development needs. 

Against this backdrop, energy cooperation between Vietnam and the Russian Federation is also undergoing strong changes, moving beyond the traditional framework of oil and gas exploration and production to expand into new sectors with higher technological content and greater added value. This is seen as consistent with global energy transition trends and the long-term development needs of both countries. 

For Vietnam, rapid economic growth is driving a significant rise in energy demand, particularly for industrial and manufacturing inputs. Oil imports have risen continuously in recent years to meet domestic demand, and this trend is forecast to extend to natural gas in the near future as electricity demand and industrial production continue to grow. 

Beyond demand factors, Associate Professor Simonov noted that increasingly complex developments in the global economy are creating further challenges for energy security. The geopolitical situation in the Middle East, one of the world’s major oil and gas supply centers, remains unpredictable, increasing the risk of supply disruptions. This has made the search for stable, long-term energy partners more urgent than ever, to ensure a solid foundation for Vietnam’s development. 

At present, the Russian Federation is regarded as one of the most reliable energy suppliers in Asia. Citing actual figures, Associate Professor Simonov said that, in 2025, Russia accounted for 18 per cent of total oil exports to China and 32 per cent to India, reaffirming its capacity to provide stable supplies to the region’s major economies. 

According to records from Vietnam Customs, fuels such as coal, petroleum, and refined oil products accounted for the largest share of Vietnam’s imports from the Russian Federation in 2025, with a total value of more than $889.7 million, equivalent to over 35 per cent of Vietnam’s total imports from that market. 

Based on these realities, Associate Professor Simonov said there remains substantial untapped potential for energy cooperation between Vietnam and the Russian Federation. “Though there have already been energy cooperation projects between Vietnam and Russia, that is still not enough,” he said. “Both sides need to promote many more projects in the time to come, both in scale and in depth of cooperation.”

In particular, such cooperation brings many practical and long-term benefits to both sides, not only economically but also in terms of energy security, technology transfer, and strengthening the Comprehensive Strategic Partnership between the two countries. 

According to Dr. Nguyen Thi Anh Tuyet from the University of Economics and Business at Vietnam National University, Hanoi, energy cooperation between Vietnam and the Russian Federation delivers clear strategic benefits that can be viewed through four main dimensions. 

First, stronger cooperation with Russia helps diversify strategic partners, reducing Vietnam’s dependence on any single source of supply. This is particularly important amid rising geopolitical risks and supply chain disruptions, thereby enhancing national energy stability and security. 

Second, the Russian Federation has strong advantages in large-scale energy experience and infrastructure, while Vietnam is a rapidly-developing market with a strategic geographic position and substantial energy transition needs. This creates favorable conditions for larger and more effective cooperation projects between the two countries. 

Third, cooperation with the Russian Federation helps Vietnam gain access to advanced energy technologies such as nuclear energy and hydrogen. These are considered foundational sectors within Russia’s energy system. As a result, Vietnam can enhance its long-term capabilities while improving its position in the global energy value chain. 

Fourth, cooperation and technology transfer contribute to strengthening Vietnam’s domestic technological self-reliance, thereby improving resilience to external shocks and reducing vulnerability to international volatility. 

Shaping cooperative strategies

With demand for energy cooperation continuing to rise, Vietnam and the Russian Federation now have opportunities to open more concrete and practical avenues of cooperation. Specifically, the two countries could strengthen cooperation in key areas such as nuclear energy, improving power system stability through grid connection and coordinated operations, and jointly researching and developing emerging technologies such as energy storage and carbon capture and storage. These are sectors that not only have high economic value but also play an important role in the global energy transition. 

At the same time, bilateral cooperation could expand into training and developing high-quality technical human resources for the energy sector. Building a workforce of engineers and energy specialists, together with promoting technology transfer and dissemination, would create a strong foundation for long-term cooperation while enhancing Vietnam’s self-reliance in the energy sector. 

In addition, effectively leveraging the Vietnam-Eurasian Economic Union Free Trade Agreement (VN-EAEU FTA) is expected to provide further momentum for energy cooperation through expanded trade in related products and improved access to regional markets. 

However, to ensure these cooperation directions are effective and sustainable, Dr. Tuyet said both countries need to pay close attention to several key conditions. First, cooperation projects must strictly comply with international environmental standards, ensure transparency, and aim toward sustainable development. Cooperative activities must also align with climate commitments, particularly Vietnam’s net-zero emissions target. 

In addition, avoiding long-term dependence is an important factor, requiring both sides to develop clear localization roadmaps for each project. This should be accompanied by genuine mechanisms for transferring technology, skills, and knowledge, enabling Vietnam to gradually master technologies and strengthen domestic capacity. 

According to Dr. Tuyet, the energy transition is not only about reducing carbon emissions but also about reshaping the balance of power in the future. “Therefore, each country needs to proactively position itself in this process,” she said. “Cooperation between Vietnam and the Russian Federation can become a mutually-beneficial solution, helping both sides leverage their strengths and complement one another in pursuit of sustainable and long-term development.”