Mexican Deputy Foreign Minister Marta Delgado will address the St. Petersburg Economic Forum today.
Expect Delgado to underscore the importance of cooperation between Latin America and Russia in her allocation. 2021 is shaping up to comprise an important opportunity for Moscow to enhance its regional influence. Severe COVID-19 induced economic recessions, elections in several Latin American countries and Russia’s successful regional vaccine diplomacy present the Kremlin with a unique window to reinvigorate ties with Latin America.
During her visit, Delgado will likely undertake negotiations regarding the domestic production of the Sputnik V vaccine in Mexico, as delays in deliveries constitute a critical roadblock in Mexico’s efforts to combat the pandemic. The deputy foreign minister will also push to expand Mexican-Russian energy cooperation, especially concerning oil and gas exploration in Mexico’s offshore.
Building on vaccine deals with nations like Brazil, Mexico and Chile, Moscow will seek to capitalize on initial short-term successes in Latin America by deepening cooperation in areas such as hydrocarbon exploration and financial services. Russia hopes that heightened economic engagement following years of aloof US regional engagement under the Trump administration will improve its geopolitical clout in America’s backyard. The political landscape that emerges following numerous presidential and parliamentary elections will likely determine whether Moscow’s efforts will bear any fruit.
Sinan is an analyst for the Current Developments Team and a regular contributor to the Daily Brief. A student of transatlantic affairs, he specialises in political, economic and energy affairs of Europe and the Middle East.