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Russia and Argentina agree on an “all-encompassing strategic partnership”

Friday, April 24th 2015 - 07:51 UTC
Full article 20 comments
“The memorandums are a massive breakthrough for economic relations between Russia and Argentina”, said Putin next to Cristina Fernandez “The memorandums are a massive breakthrough for economic relations between Russia and Argentina”, said Putin next to Cristina Fernandez
The Argentine president said the two sides agreed to conduct thorough consultations on using national currencies in bilateral trade instead of the dollar The Argentine president said the two sides agreed to conduct thorough consultations on using national currencies in bilateral trade instead of the dollar
Russia will provide Argentina with access to Russian nuclear power technology and the deal should be ready by the end of the year Russia will provide Argentina with access to Russian nuclear power technology and the deal should be ready by the end of the year

Russia and Argentina signed agreements which amounted to an “all-encompassing strategic partnership” during Argentine President Cristina Fernandez visit to Moscow, which ended on Thursday with the meeting at the Kremlin with her counterpart Vladimir Putin.

 The two countries signed a number of deals on developing hydroelectric, nuclear and fossil-based energy and announced intentions to use each other's currencies in trade.

“The memorandums are a massive breakthrough for economic relations between Russia and Argentina”, said Russian President Putin who described the negotiations “rich and fruitful”.

Cristina Fernandez said Argentina considers Russia a strategic partner and revealed the two sides agreed to conduct thorough consultations on using national currencies in trade calculations instead of the US dollar.

A two billion dollars memorandum was signed for the construction of a hydroelectric dam. Russia's VEB bank will provide 1.2bn of the total investment needed, 35% of which will be used to pay Argentine subcontractors.

In addition, Russia will provide Argentina with access to Russian nuclear power technology. The deal will be prepared by the end of the year. The head of Russian nuclear power plant company Rosatom declined to give an estimate to the deals, saying that one bloc costs “billions of dollars.”

“Rosatom has joined the project to build the sixth bloc of the Atucha nuclear power plant,” Putin said.

Russian energy giant Gazprom signed a memorandum to explore and develop gas fields with Argentine state gas company YPF. The deal may amount to 1bn in investments according to Argentina's Minister of Industry.

Russian company Uralmash will also construct a plant which will manufacture oil extraction equipment, which will amount to an additional 1.9 billion in Russian investment.

Putin also said that Russia and Argentina will cooperate in the military-technical sphere and pledged to accelerate the construction of GLONASS satellite navigation systems in Argentina.

Top Comments

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  • Clyde15

    to use each other's currencies in trade.

    Who else would want either ?

    Apr 24th, 2015 - 08:19 am 0
  • Conqueror

    'Cristina Fernandez said Argentina considers Russia a strategic partner'. Meanwhile, Vladimir Putin, who hadn't been listening, said that Russia considers argieland a strategic serf.

    'Russia will provide Argentina with access to Russian nuclear power technology' in an agreement laughingly called Chernobyl Kursk SoAm X.

    For the first time, Russian GLONASS satellites will enable the argie sub to go straight down!

    Apr 24th, 2015 - 10:36 am 0
  • ChrisR

    @ 1 You beat me to it!
    @2 “strategic serf.” That IS funny, true as well.

    'But seriously folks' as the shyster Hughie Green used to say before giving the camera one of his rictus grins and then lied through his teeth, do we think anything will come of this? When the new argie President gets the numbers involved and the strategic threat that comes with them it will all be put in Ushuaia if they have the new shitter ready.

    Apr 24th, 2015 - 11:19 am 0
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