Russia’s trade with Latin America is characterized by a strategic pivot, focusing on key sectors like food security (wheat, seafood) and energy, despite sanctions complicating payments, with Chile, Brazil, Argentina, and Mexico as major partners, while Latin America seeks diversification away from U.S. dependency, creating a complex dynamic of growing cooperation in specific areas (like food) alongside energy market shifts. Track Russia’s growing business ties with Latin America. Analysis of trade agreements, investment flows, and market expansion opportunities for companies engaged in Russia-LatAm regional commerce.
Venezuela has been working hard to join BRICS as a full member, with Caracas well aware of the growing role of the group on the world stage and attaching great importance to Venezuela-BRICS cooperation. However, significant political and diplomatic barriers need to be overcome by Caracas if it is to succeed. Most of this lies […]
The humble banana is a point of trade interest between Russia and Latin America’s Ecuador, with the south americans providing 16% of all bananas consumed in Russia. There have been some inconsistencies in product, leading to experts from Russia’s plant and animal health watchdog Rosselkhoznadzor to conduct an audit of Ecuador’s banana certification system in […]
Russia and Venezuela are celebrating their 80th year of diplomatic relations this year, with Russian Foreign Minister Sergey Lavrov giving comments on contemporary relations on Friday (March 14). This is an edited overview of what he had to say, concentrating on the trade and investment issues: Background “Today, Russian-Venezuelan relations are developing on a firm […]
Russia has stated it is open to reestablishing connections with the Organisation of American States (OAS) which it joined as an observer in 1992. Russia was suspended in April 2022 by the OAS Permanent Council, in moves lead by the United States. That decision was not multilateral with numerous Latin American countries voicing their disapproval. […]
Russia’s Zarubezhneft, a state-owned oil company specializing in exploration, development and operation of oil and gas fields outside Russia, has transitioned from pilot production to the exploitation phase of its Boca de Jaruco project in Cuba. The Boca de Jaruco field produces extra-viscous, extra-heavy oil (natural bitumen) from carbonate deposits using thermal steam methods. Zarubezhneft […]
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AvtoVAZ representatives will visit Ecuador in March this year and discuss the resumption of sales of Russian cars to the country, according to the Ecuadorian Ambassador Juan Fernando Holguin Flores. Despite sanctions, and the subsequent difficulties with payments and logistics, Russia remains an important trading partner of Ecuador, with Russia one of the main buyers […]
The Russian Ministry of Industry and Trade, together with the Russian Export Centre (REC), is launching a program of state support for exports to Latin America and Africa. According to the program, Russian logistics companies engaged in maritime transportation will be able to receive subsidies from the federal budget and set preferential tariffs for their […]
Russia’s nuclear energy state corporation, Rosatom, has won a Brazilian tender to provide conversion and enrichment services for domestically produced uranium, according to the companies press service, which stated the contract signed by Rosatom with the Brazilian state company Industrias Nucleares do Brasil (INB) is “worth around US$40 million.” It is expected that Brazilian uranium […]
Trade with the economies of Southeast Asia and Latin America already accounts for more than 70% of Russia’s export-import transactions, and the share of settlements in national currencies under foreign contracts with them is about 90%, according to Alexander Pankin, the Russian Deputy Foreign Minister. He emphasized that Moscow will continue to deepen cooperation with […]
The upcoming BRICS Congress will take place in June, where it is planned to approve the creation of a BRICS Agrarian Alliance, according to Lyudmila Orlova, the President of the Russian National Movement of Conservation Agriculture. Orlova stated that “We held a round table in December and have now agreed on holding a congress and […]
Russia has significantly increased its exports of petroleum products to Brazil, primarily diesel fuel, over the past two and a half years, and there is potential for further cooperation in this area, according to Alexei Labetsky, the Russian Ambassador to Brazil. Labetsky said that “Over the past two and a half years, the volume of […]
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