(VOVworld)- Russian President Vladimir Putin will begin a tour of Cuba, Argentina and Brazil on Friday. Since Moscow is seeking ways to deal with increasing international isolation due to the crisis in Ukraine, the tour is intended to help Russia gain support from Latin American countries while seeking cooperation opportunities with this densely populated and resource rich continent.
Cuba will be the first leg of Putin’s 6-day tour. The Russian President is scheduled to discuss with President Raul Castro and his brother Fidel issues related to cooperation in energy, transportation, aviation, and health care. After Cuba, Mr. Putin will go to Argentina to discuss trade and energy issues with President Cristina Kirchner before attending the BRICS summit in Brazil.
Russian President Vladimir Putin |
Breaking the isolation in Europe
Since the crisis began in Ukraine, the relationship between Russia and the West has become tense and confrontational, especially Crimea’s annexation by Russia in April triggered a strong wave of protest. The current instability in Ukraine, according to the West, is due to Russia supporting separatists in eastern Ukraine. The US and the EU have imposed a number visa bans and blocked assets of several Russian companies and individuals. Russia was also removed from the G8 group. In early June, for the first time in 17 years, Russia didn’t participate in the summit of the G7 group in Belgium.
Despite Russia’s efforts to ease tension with the West by withdrawing most of its troops from Ukraine, discussing with European leaders ways to end the crisis and mobilizing humanitarian aid for crisis-affected Ukrainians, Russia still faces sanctions imposed by the West and a strong determination on the pad of Western nations to reduce their energy dependence on Russia. Russia recently admitted that the West’s sanctions have made Moscow realize Russian’s financial limitations and forced it to seek economic security by reducing its dependence on foreign partners.
The signing of a 400 billion USD energy contract between Russia and China last month signalled a change in Moscow’s cooperation strategy. In the long term, Beijing is a partner Moscow can’t completely rely on due to their differences, but the West is forcing them closer together. Enhance cooperation with Latin America will help Russia break out is growing economic isolation and at the same time increase its influence in the Western hemisphere.
A trip with many responsibilities
The purpose of President Putin’s visit is to seek new markets and cooperation opportunities in Latin America. His visit targets Russia’s traditional friends and countries in the US’s backyard. Analysts say the visit will obtain the expected results. Just 2 days before to the visit, Russia decided to write off 90% of Cuba’s debts, which are estimated at more than 35 billion USD. The other 10% of the debts will be paid over 10 years, which will be used to sponsor Russian investment projects in Cuba. The move has strengthened Russian-Cuban relations, opening new areas of cooperation between the two countries. Relations between the US and Argentina have deteriorated following a ruling by the US Supreme Court, which forced Argentina to pay a debt of 1.3 billion USD. With the US and Argentina failing to find common ground in restructuring Argentina’s debt, Russia will have an opportunity to save Argentina from bankruptcy.
While attending the BRICS Summit in Brazil, President Putin will discuss continued cooperation with Brazilian leaders in a number of areas and help to establish BRICS Development Bank and a 100-billion USD fund, dubbed the Contingent Reserve Arrangement to stabilize currency markets.
Following the political upheaval in Ukraine, President Putin is paying more attention to relations with Latin American countries. His visit is aimed at increasing Russia’s influence and breaking the isolation created by Western sanctions.
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