Russian Ambassador to Nepal Alexei Novikov on Wednesday said the Russian government is making efforts to secure the release of Nepalis held captive by Ukrainian forces.

During a courtesy call on Finance Minister Barsha Man Pun, Ambassador Novikov mentioned that efforts are underway to release the Nepalis through a potential prisoner swap agreement, according to Minister Pun’s secretariat.

“We are endeavouring to secure the release of Nepalis, even if it entails the release of Ukrainian soldiers currently under Russian control,” the secretariat quoted the ambassador as informing Minister Pun.

The exact number of Nepalis under the captivity of the Ukrainian army remains unknown. Deputy Prime Minister and Minister for Foreign Affairs Narayan Kaji Shrestha told journalists last week that some Nepali nationals were captured by the Ukrainian forces as prisoners of war, adding that Nepal also demanded their safe release.

Minister Pun urged the ambassador to help create a condition conducive to the safe return of Nepalis employed in the Russian army.

Similarly, Minister Pun stressed the need for the Russian government to facilitate the repatriation of those killed, provide medical treatment for the injured and offer relief and compensation to the families of the deceased.

According to the minister’s secretariat, they also discussed the upcoming Nepal Investment Summit scheduled for April. Finance Minister Pun urged Russia to consider investing in large-scale hydropower projects and fertilizer factories.

“We have already secured access to the international electricity market and Nepal's hydropower sector presents a favourable opportunity for international investors,” Minister Pun told the Russian ambassador. “We are now prepared to facilitate a conducive environment should Russian investors express interest in establishing fertilizer factories.”

Ambassador Novikov responded positively to Minister Pun's proposal, expressing intentions to engage with Russian investors, citing a favourable geopolitical climate for Russian investment in Nepal.