Russia’s foreign economic relations with major Latin American partners in the context of anti-Russian sanctions
The article examines key vectors of the development of Russia’s foreign economic relations with its largest trading partners in Latin America in the context of anti-Russian sanctions. The author analyzes peculiarities of Russia’s foreign trade and investment cooperation with Brazil, Ecuador, Argenti...
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| Format: | Article |
| Language: | Russian |
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Moscow State Institute of International Relations (MGIMO)
2023-01-01
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| Series: | Ибероамериканские тетради |
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| Online Access: | https://www.iberpapers.org/jour/article/view/503 |
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| author | Vinicio X. Medina Gonzalez Reyza N. Toro Bellott |
| author_facet | Vinicio X. Medina Gonzalez Reyza N. Toro Bellott |
| author_sort | Vinicio X. Medina Gonzalez |
| collection | DOAJ |
| description | The article examines key vectors of the development of Russia’s foreign economic relations with its largest trading partners in Latin America in the context of anti-Russian sanctions. The author analyzes peculiarities of Russia’s foreign trade and investment cooperation with Brazil, Ecuador, Argentina, Mexico and Chile. Factors hindering the development of this cooperation are economic instability in the world, anti-Russian sanctions, weak development of logistics networks, lack of free trade agreements, the presence of high custom duties on Russian products in the Latin American market, high competition on part of the United States and China, insufficient interest of Russian business in economic cooperation with the countries of the region over the past decades. It is shown that the largest increase in Russia’s trade turnover with the countries under consideration was recorded with Mexico, an increase in Russian exports was observed in Argentina, and imports - from Mexico. Chile demonstrated the worst indicators in the sphere of foreign trade relations among the countries under consideration. It is concluded that Russia’s largest Latin American partners have serious prospects for expanding their presence on the Russian market in the face of anti-Russian sanctions. Two key factors can be considered favorable for further development of Russia - Latin America trade cooperation. The first one is the orientation of the foreign policy of many countries in the region to other economic partners in order to minimize dependence on the United States. The second one is that Russia is shifting its vectors of economic cooperation from unfriendly countries to other countries, including Latin American states. It is concluded that investment cooperation between the countries has certain prospects for development, especially in the field of oil and gas exploration, energy and railway construction. |
| format | Article |
| id | doaj-art-5b8949c99dbd410c922cb2ae4166ecce |
| institution | Kabale University |
| issn | 2409-3416 2658-5219 |
| language | Russian |
| publishDate | 2023-01-01 |
| publisher | Moscow State Institute of International Relations (MGIMO) |
| record_format | Article |
| series | Ибероамериканские тетради |
| spelling | doaj-art-5b8949c99dbd410c922cb2ae4166ecce2025-08-20T03:59:03ZrusMoscow State Institute of International Relations (MGIMO)Ибероамериканские тетради2409-34162658-52192023-01-0110310912210.46272/2409-3416-2022-10-3-109-122479Russia’s foreign economic relations with major Latin American partners in the context of anti-Russian sanctionsVinicio X. Medina Gonzalez0Reyza N. Toro Bellott1RUDN UniversityRUDN UniversityThe article examines key vectors of the development of Russia’s foreign economic relations with its largest trading partners in Latin America in the context of anti-Russian sanctions. The author analyzes peculiarities of Russia’s foreign trade and investment cooperation with Brazil, Ecuador, Argentina, Mexico and Chile. Factors hindering the development of this cooperation are economic instability in the world, anti-Russian sanctions, weak development of logistics networks, lack of free trade agreements, the presence of high custom duties on Russian products in the Latin American market, high competition on part of the United States and China, insufficient interest of Russian business in economic cooperation with the countries of the region over the past decades. It is shown that the largest increase in Russia’s trade turnover with the countries under consideration was recorded with Mexico, an increase in Russian exports was observed in Argentina, and imports - from Mexico. Chile demonstrated the worst indicators in the sphere of foreign trade relations among the countries under consideration. It is concluded that Russia’s largest Latin American partners have serious prospects for expanding their presence on the Russian market in the face of anti-Russian sanctions. Two key factors can be considered favorable for further development of Russia - Latin America trade cooperation. The first one is the orientation of the foreign policy of many countries in the region to other economic partners in order to minimize dependence on the United States. The second one is that Russia is shifting its vectors of economic cooperation from unfriendly countries to other countries, including Latin American states. It is concluded that investment cooperation between the countries has certain prospects for development, especially in the field of oil and gas exploration, energy and railway construction.https://www.iberpapers.org/jour/article/view/503foreign economic relationsforeign tradeinvestment cooperationlatin americarussiaargentinaecuadorbrazilchilemexicoantirussian sanctions |
| spellingShingle | Vinicio X. Medina Gonzalez Reyza N. Toro Bellott Russia’s foreign economic relations with major Latin American partners in the context of anti-Russian sanctions Ибероамериканские тетради foreign economic relations foreign trade investment cooperation latin america russia argentina ecuador brazil chile mexico antirussian sanctions |
| title | Russia’s foreign economic relations with major Latin American partners in the context of anti-Russian sanctions |
| title_full | Russia’s foreign economic relations with major Latin American partners in the context of anti-Russian sanctions |
| title_fullStr | Russia’s foreign economic relations with major Latin American partners in the context of anti-Russian sanctions |
| title_full_unstemmed | Russia’s foreign economic relations with major Latin American partners in the context of anti-Russian sanctions |
| title_short | Russia’s foreign economic relations with major Latin American partners in the context of anti-Russian sanctions |
| title_sort | russia s foreign economic relations with major latin american partners in the context of anti russian sanctions |
| topic | foreign economic relations foreign trade investment cooperation latin america russia argentina ecuador brazil chile mexico antirussian sanctions |
| url | https://www.iberpapers.org/jour/article/view/503 |
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