Russia's Economic Cooperation with Latin America in the Context of Global Economic Transformations

Abstract

The financial, economic, and trade breaks between the Russian Federation and the West should stimulate domestic business activity in Latin America in line with the general foreign economic turn to the Global South. The task of intensifying relations with Latin America (or Latin-Caribbean America, LCA) is on the agenda, but the unprecedented sharpness of the conflict between Russia and the West has had heterogeneous consequences, in some cases narrowing the corridor of opportunities for increasing economic exchanges between Russia and LCA states. The essence of the problem is that the systemic trade and financial restrictions imposed by the West have led to an imbalance in international raw materials and food markets, disrupted logistics chains, and, in some areas, put Russia and Latin American countries in a difficult trade and economic situation. However, in the author's opinion, even in this crisis situation, there is room not only for maintaining the achieved level of Russian-Latin American cooperation but also to build mutually beneficial trade and economic relations in new technological sectors.