Russia deepens cooperation with Latin America at St. Petersburg Economic Forum

At the International Economic Forum in St. Petersburg, Russian Duma President Vyacheslav Volodin met with Nicaraguan representative Laureano Ortega Murillo, reaffirming a "brotherly" relationship and pledging continued support for bilateral projects.

Delegations from at least seven Latin American nations—including Brazil, Argentina, Mexico, Cuba, Venezuela and Nicaragua—signed memoranda covering energy, agriculture, technology and defense cooperation. The agreements also aim to lessen reliance on the US dollar by facilitating trade in local currencies. The outreach reflects Moscow’s strategy to counter Western sanctions by strengthening ties with the Global South, while Latin American governments seek diversified partners amid economic volatility.