Russian Companies Increase Engagement With Latin America - Ambassador

Many Russian companies are beginning to actively engage with Latin American countries due to the current political situation, Russian Ambassador to Paraguay Alexander Pisarev told Sputnik on Friday

MONTEVIDEO (UrduPoint News / Sputnik - 08th July, 2022) Many Russian companies are beginning to actively engage with Latin American countries due to the current political situation, Russian Ambassador to Paraguay Alexander Pisarev told Sputnik on Friday.

"In the new international political reality, many Russian companies have begun to work more actively with Latin American countries, including Paraguay," Pisarev said.

In the first five months of 2022, Russia's export to Paraguay almost doubled, amounting to $116 millions, which suggests that there is an interest in developing bilateral trade and economic ties.

"I am convinced that some of the negative trends of this adaptation period will soon be left behind and the Russian-Paraguayan trade turnover will grow again, bringing tangible benefits to the peoples of our countries," Pisarev added.

Since the launch of the Russian special military operation in Ukraine, Western countries have adopted several packages of sanctions against Russia. Russian President Vladimir Putin has stated that the policy of containing and weakening Russia is the West's long-term strategy and that sanctions have dealt a serious blow to the entire global economy.