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Putin Eyes Madagascar as Gateway to Critical Minerals and a Third of the World’s Oil
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Russia is strengthening its relationship with Madagascar’s leadership, seeking access to strategic resources and key maritime routes in the Indian Ocean.
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According to Bloomberg on April 8, the deepening cooperation follows a change in Madagascar’s leadership after a military takeover, creating new opportunities for Moscow to expand its presence in Africa.
During a recent meeting with Russian leader Vladimir Putin, Madagascar’s leader Randrianirina stated, “now I can say that Madagascar is one of our important partners in Africa.”
Bloomberg reports that Russia has supplied Madagascar with military equipment, including helicopters, armored vehicles, ammunition, and trucks, as well as food aid such as rice.
The outlet also notes that representatives of Russia’s Promsvyazbank visited the island to explore financial and trade cooperation, while a new political party, “Friends of Russia,” was established to promote closer ties and engagement with BRICS countries.
The island holds significant economic value due to its natural resources. Madagascar is one of the world’s leading producers of cobalt—a key material for batteries—and ranks among the top producers of graphite. Data cited by the US Geological Survey, referenced by Bloomberg, indicates that Madagascar also holds some of the world’s largest reserves of rare earth elements.
In addition to resources, Madagascar’s geographic position is a key factor. The port of Toamasina is located near the Mozambique Channel, a major global shipping route. Nearly one-third of global oil shipments pass through this corridor. The island also hosts an abandoned naval base in Antsiranana, which could add to its strategic importance.
According to Bloomberg, analysts say the timing of Russia’s engagement is linked to broader geopolitical dynamics. Sean Duffy, head of risk analysis for Southern Africa at Control Risks, stated that “current disruptions in global shipping only increase the strategic value of the Mozambique Channel.”
He added that Russia is likely taking advantage of moments when Western attention is focused elsewhere.
Russia’s economic outreach in Africa increasingly includes efforts to bypass Western sanctions. A cryptocurrency network called A7—backed by sanctioned Russian defense bank Promsvyazbank and fugitive oligarch Ilan Șor—is expanding into countries such as Nigeria, Zimbabwe, and Togo.
The platform is designed to facilitate international transactions outside the US dollar system using tools like stablecoins and promissory notes. The initiative aligns with Moscow’s broader strategy to build alternative financial channels after major Russian banks were cut off from SWIFT in 2022, and may complement Russia’s growing political and military presence across parts of Africa.
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