Due to the Ukraine Crisis and disapproval by the European Union of recent Russian actions, Russia has responded to EU sanctions by embargoing EU products. In turn this has pushed Russia to look for alternate sources of provisions.
Developing Latin America, with economies eager to expand has begun to welcome Russian as well as Chinese investment and trade negotiations. Although Brussels and other Western powers have urged against such increased relations, the opportunity to aid and support an entity such as Russia help aid in economic development.
Why wouldn’t certain Latin American countries take the chance to expand and create such a trade relation as the one being offered by Russia?
According to Reuters, Brasil jumped all in devoting 90 new meat plants to be geared to exportation for Russia. Brasil has also greatly began to increase its corn and soy bean sales to Russia.
Argentina as well jumped on board, sending members to Moscow in August to quickly sign exportation contracts. The eagerness of Argentina, deriving from the desire to increase revenues to stabilize it’s central banks reserves that have, ” fallen more than 5 percent over the last year to $28.968 billion,” reported by Reuters.
Chile, the leading economy within Latin America has also been reached out to by Russia to replace the EU’s supply of fish imports into Russia.