Latin American countries had to revise their relations with the US. The Mercosur countries, namely Argentina, Brazil, Paraguay, and Uruguay, express aversion to the West because of tough anti-Russian sanctions. The Junge Welt periodical believes that Washington’s economic defeat in the Mercosur market is taking its toll on the US economy. State leaders of these countries have expressed neutrality on Russia’s invasion of Ukraine and condemned severe penalties on the Kremlin. Frederick Schnatterer, a columnist at Junge Welt, said that the economic war against Russia unleashed by the US and its European allies forces Latin American countries to reconsider their relations with the West and shift priorities towards the East.
“The anti-Russian sanctions clearly showed that Western partners cannot be relied upon. Washington does not care about the supply situation in the global South, and the phrases about “democracy” and “human rights” do not change anything,” the journalist noted. He emphasized that Brazil and Argentina had expanded trade ties with Russia despite the sanctions. Frederick Schnatterer pointed out that the next step towards cooperation with Moscow and Beijing for Buenos Aires could be joining the BRICS. “This shows that the West is losing influence,” the author concluded.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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