Russian inroads to Latin America continue…


The Spanish newswire EFE is carrying a small story about how Russia has become the second-largest destination for exports from Uruguay after Brazil. From the Russia side of things, this will likely remain below the radar, but it is worth noting from a South American perspective for a few reasons.

One, following China’s ascent to being Brazil’s top trade partner, it alters just a little bit more the trade profile for the continent.

Two, with Brazil remaining far and away Uruguay’s top destination for exports and Argentina now falling into third place, it brings trade with Russia closer into the Mercosur bloc, which could have additional interesting implications should Venezuela be approved to enter Mercosur.

Finally, it recalls a certain similarly small story from not that long ago in which Russian and Uruguayan officials were reported to have discussed potential cooperation on a floating nuclear power plant.

Is this significant or not? It may not be. But if it is, you’ll surely remember where you heard about it first.