Russia and Argentina sign energy agreements as Putin looks to South America

President Putin and Argentina’s President Cristina Fernandez

The Presidents of Russia and Argentina  Vladimir Putin and  Cristina Fernandez today welcomed a number of agreements signed by their leading energy companies, claiming that they paved the way for closer cooperation between the two countries. They also underline Moscow’s ambition to deepen ties with  South America in the aftermath of Western sanctions.
Gazprom has signed an outline deal with  Argentina’s state-owned YPF for the joint development of its hydrocarbon  deposits, while Rosatom has signed a similar deal for the construction of a nuclear power plant. Heavy plant manufacturer Uralmash is also planning to for a joint venture for the production of oil drilling equipment. At a meeting in the Kremlin, the two leaders said they would consider using their national currencies rather than US  dollars in their bilateral trade arrangements.