Russia, Argentina sign agreements on economic & energy co-operation
Russia and Argentina have signed a series of framework agreements on economic and energy co-operation.
These agreements were signed following talks between Argentine President Cristina Fernandez de Kirchner and her counterpart Russian leader Vladimir Putin in Moscow.
Both leaders hailed their co-operation as a comprehensive strategic partnership.
The signed agreements include
- Russian investment in a hydroelectric plant in Argentina’s Neuquen River.
- Russia’s Rosatom nuclear corporation to build a new reactor at Argentina’s Atucha 3 nuclear power plant.
- Memorandum of co-operation (MoC) on defence between both nations.
Russia is eager to boost trade and economic relations with Latin American countries to offset the effects of sanctions imposed by the West over the crisis in Ukraine. While, Argentina is looking for foreign investment in order to restructure its defaulted debt because of US hedge funds.