Russia: Hand in hand

Mar 1, 2013

Russian energy companies and banks have started venturing into Latin America. Despite their aspirations, the extent of the new relationship remains in doubt

By Elliot Wilson

Despite their cultural disparities, and minimal trade in recent years, economic relations between Russia and Latin America are on the rise for the first time since the Soviet Union’s collapse.

Then, Moscow’s influence south of the Rio Grande was politically tilted. Russian leaders funded regimes from Havana to Santiago, largely to undermine the United States.

Under president Vladimir Putin, however, Russia is more petrostate than ideologue. So it is little surprise that most trade between Moscow and South America involves energy-heavy deals.

One major partnership is...

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