In an interview with Proceso, Aleksey Valkov, director of the St. Petersburg International Economic Forum, explains Russia’s strategy to expand its presence in Latin America, focusing on Mexico as a key hub in economic, nuclear, and infrastructure matters.
According to Proceso, during the administration of President Andrés Manuel López Obrador, following the pandemic, Russian investment in Mexico grew. According to figures from the Ministry of Economy, in 2022, $2.8 million in Foreign Direct Investment (FDI) arrived in the country from the nation governed by Vladimir Putin; by 2024, the figure had risen to $86.4 million.
And now, while Donald Trump militarizes the border with Mexico and embarks on his second presidential term, promoting a new tariff war, and maneuvers amid tensions in the Middle East, Russia is turning its attention to the United States’ main trading partner, Mexico, governed by Claudia Sheinbaum Pardo. The entry point is full of geopolitical symbolism: Cuba, governed by Miguel Díaz-Canel, the Kremlin’s closest ally in the region.
The director of the St. Petersburg International Economic Forum, Aleksey Valkov, outlined in an interview with Proceso the key elements of the strategy with which Russia seeks to expand its economic presence in Latin America, starting with Mexico.
The move is part of a broader diplomatic and commercial offensive by the Kremlin.
According to Proceso’s monitoring, the initiative bears similarities to the model Moscow deployed with India, first in the pharmaceutical sector and then in various areas of the economy where industrial ties were strengthened through technology transfer and bilateral trade agreements. This time, the initiative includes sectors such as energy, infrastructure, and connectivity.
Long-Term Plan
The first step has a logistical and commercial component, Valkov explained: the creation of a direct air route between Moscow and Mexico, with a stopover in Havana. The proposal, he explained, has already been presented to members of Sheinbaum’s administration and proposes a corridor between Yucatán, Cuba, and Russia. The goal is not simply to attract tourists, but to build a direct channel for entrepreneurs and investors, an air highway for business.
The formal launch of this strategy occurred last April, when Russian businessmen and high-level officials landed in Mexico to participate in a business forum.
Valkov. “There is great interest in Mexico.” Photo: forumspb.com
“We decided to hold a business forum. It took place in Mexico, and 300 people from Russia and experts from different fields met to discuss various aspects of bilateral relations. This is considered an excellent step to strengthen bilateral dialogue, and it is expected to continue at the St. Petersburg International Economic Forum in June of this year,” he added.
Beyond cultural tourism—although present—Russia is proposing a long-term repositioning, at a time when neoliberalism is losing ground and Latin America is reshaping itself as an open terrain for new economic alliances.
“There is indeed great interest in Mexico and its rich culture. Many people in Russia are interested in Mexican culture. Many Russians go to exhibitions and are very familiar with Frida Kahlo’s paintings, for example,” comments Valkov.
Nuclear Support
The next phase of the plan was developed in June at the St. Petersburg Forum, where Russia sought to capitalize on the new Mexican political cycle with the energy reform promoted by President Sheinbaum.
At this point, Russian interest is explicit, with gas, oil, renewable energy, and nuclear energy.
Valkov explains that the proposals include the modernization of Mexico’s energy infrastructure, as well as a possible agreement to supply uranium to the Laguna Verde nuclear plant. Furthermore, they offer advanced technology, such as small modular reactors, useful for bringing energy to remote regions of the country. Precisely on June 23, the Russian Embassy in Mexico officially announced its willingness to supply liquefied natural gas (LNG), in addition to sharing specialized technologies for crude oil extraction in adverse geological conditions, and processes to improve refining efficiency.
Diplomatic Relations
Valkov insists that this rapprochement is neither temporary nor impulsive. 2025 marks 135 years of diplomatic relations between Mexico and Russia, since they were formally established on December 1, 1890.
For the director of the St. Petersburg International Economic Forum, diplomatic history is moving forward, but now with a new air corridor, a business forum underway, and an energy move on the table.
Source: Proceso
