Russian President Vladimir Putin told Egyptian Foreign Minister Badr Abdelatty during a meeting that Russia would help Egypt meet its grain needs, saying the two sides were studying the creation of a grain and energy hub in Egypt.
The move comes as Egypt works to bolster wheat reserves amid war-driven price risks and pressure on its subsidized bread program.
The Kremlin said in a statement Thursday, during Abdelatty’s visit to Moscow, that Putin had raised the idea of establishing a grain and energy hub in Egypt.
The statement did not give details about the proposed hub, but it stressed Russia’s commitment to supplying Egypt with wheat. Putin said, “I have instructed the government to work with our Egyptian partners on supplying food products, primarily our grain.”
Russia is Egypt’s largest wheat supplier by a wide margin. It exported 8.3 million metric tons to the country in 2024-2025, followed by Ukraine with 2.1 million metric tons.
Recent reports indicate that Egypt stepped up wheat imports in March to secure the strategic commodity and hedge against price increases after the US-Israeli war on Iran.
Prime Minister Mostafa Madbouly said on Wednesday that the state is keen to bolster its reserves of the commodity amid the ongoing war.
Putin added that conditions in Russia are favorable for meeting Egypt’s needs, saying, “The harvest was good, so we have no problems with supplies, and we will not have any problems in the future.”
Egypt has faced major challenges in securing wheat supplies since the outbreak of the Russia-Ukraine war in 2022, which sent global prices soaring. Those crises have put pressure on the state as it remains committed to providing subsidized bread to about 70 million citizens.
Alongside efforts to secure imports, the government has boosted wheat availability by raising the price it pays local farmers. It announced on Wednesday an increase in the procurement price, which rose from 2,350 Egyptian pounds ($43.50) per ardeb to 2,500 pounds ($46.30).
Putin also highlighted cooperation between the two countries on the El Dabaa nuclear power plant and a planned Russian industrial zone in Egypt during his meeting with Abdelatty.
Egypt and Russia signed a cooperation agreement in 2015 to build a nuclear power plant, which is being carried out by Rosatom, the Russian nuclear energy giant.
