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Argentina-Russia: Framework on energy and economic co-op

Russian President, Valdimir Putin, and Argentine President, Cristina Fernandez de Kirchner, signed a series of agreements in Moscow on Thursday, to co-operate on energy and economic issues. 

The Argentine and Russian Presidents hailed their co-operation as a "comprehensive strategic partnership".

The agreements include Russian investment in a hydroelectric plant and a nuclear power plant in Argentina.

There was also a memorandum of co-operation on defence.

Correspondents say the Kremlin is keen to boost trade relations with Latin America to offset the effects of sanctions imposed by Europe and the US over the Ukrainian crisis.

Argentina is looking for foreign investment as its battles US hedge funds thwarting its effort to restructure defaulted debt.

Among the framework agreements was a Russian pledge to finance a hydroelectric power plant on Argentina's Neuquen River.

Russia's Rosatom nuclear corporation also agreed to build a new reactor at Argentina's Atucha 3 nuclear power plant.

Source: BBC
 

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