Samia dismisses sanctions narrative, courts global investors in Russia

DAR ES SALAAM/St. Petersburg: PRESIDENT Samia Suluhu Hassan has firmly dismissed suggestions that Tanzania is operating under sanctions, assuring global leaders and investors that the country remains focused on development and economic transformation.

Speaking during a high-level panel discussion at the St. Petersburg International Economic Forum (SPIEF) 2026, President Samia responded to a question from moderator Geeta Mohan on whether sanctions could affect Tanzania’s development ambitions.

The President gave a clear and unequivocal response, saying: “You asked me about sanctions and how we will move forward with development. I want to assure you that Tanzania is not under sanctions. We are not under sanctions at all, and we are continuing to organize ourselves to develop our country. But we are not under sanctions.”

Her remarks came during a plenary session that brought together some of the world’s most influential leaders, including Russian President Vladimir Putin, Uzbekistan President Shavkat Mirziyoyev and Chinese Vice President Han Zheng, who jointly participated in discussions on global economic cooperation and investment flows.

The sanctions question emerged as President Samia used the global platform to present Tanzania’s economic progress and investment potential, positioning the country as a stable and attractive destination for international capital.

Earlier, she addressed business leaders, investors, and investment promotion agencies from Tanzania and Russia, highlighting opportunities across key sectors of the economy and inviting greater foreign participation in Tanzania’s development agenda.

According to media reports, President Samia showcased five flagship projects that the government considers central to accelerating economic growth and strengthening Tanzania’s role as a regional trade and logistics hub.

The projects include the proposed Bagamoyo Deep Sea Port, expansion of railway infrastructure, strategic energy developments, industrial parks, and value addition initiatives aimed at boosting exports and industrial production.

The Bagamoyo Deep Sea Port project remains among the government’s key long-term infrastructure plans, designed to integrate port facilities with rail and industrial zones in order to enhance regional connectivity and trade competitiveness.

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The President told investors that Tanzania offers a combination of political stability, strategic geographic location, and expanding access to regional markets, making it one of Africa’s emerging investment destinations.

She noted that ongoing reforms are helping to improve the business environment, while government efforts to modernize infrastructure are creating new opportunities for private sector investment.

President Samia also stressed the importance of international partnerships in driving sustainable development, describing investment as a critical tool for job creation, industrialization, and economic resilience.

Her participation at SPIEF formed part of broader bilateral engagements between Tanzania and Russia, including high level talks at the Kremlin where Russian President Vladimir Putin highlighted strengthening relations and expanding cooperation in trade and investment between the two countries, which have maintained diplomatic ties for over six decades.

Held annually since 1997, the St. Petersburg International Economic Forum is one of the world’s leading platforms for economic dialogue. This year’s event, held under the theme “Pragmatic Dialogue: The Path to a Stable Future,” has drawn more than 20,000 participants from approximately 130 countries.