Trade between Russia and Ethiopia more than doubled in the first six months of 2025 compared with a year earlier, reaching $191.2 million, according to TV BRICS, citing the Russian Ministry of Economic Development.

Russian economic development minister Maksim Reshetnikov disclosed the figures during a videoconference with Ethiopia’s trade minister Kassahun Gofe Balami, where the two discussed ways to deepen commercial ties. He proposed a series of online forums to match supply and demand, noting that Russian producers could expand exports of grain, fertilisers and agricultural machinery.

The talks also covered preparations for the next meeting of the intergovernmental commission on economic and scientific-technical cooperation, scheduled for November. Reshetnikov proposed a series of online conferences to exchange information on goods and services, noting that Russian suppliers could provide grain, fertilisers and agricultural machinery. He also invited Kassahun to visit Moscow.

The surge in trade comes as Ethiopia and Russia deepen ties across multiple fronts. In February, Moscow granted Ethiopian banks access to its financial system, a move that could pave the way for local-currency trade. The same month, a Russian parliamentary delegation led by Valentina Matvienko visited Addis Ababa, highlighting long-standing diplomatic relations dating back more than a century.

Ethiopia, which joined BRICS in January 2024, is seeking to integrate further into the bloc’s financial architecture, including possible participation in the New Development Bank. Russian companies are also exploring investment opportunities in energy, pharmaceuticals, agriculture and infrastructure, with Rosatom carrying out feasibility studies for nuclear technology projects.