On February 2, 2025, the Russian government announced the inclusion of Argentina, Mexico, and five other 'friendly and neutral' nations in its currency and financial derivatives market. This decision expands the list of countries with access to 40, established in September 2023.
Previously, Brazil, Cuba, and Venezuela were the only Latin American countries permitted to engage in the Russian currency market. The Russian government stated that this measure aims to enhance the efficiency of direct conversion mechanisms for the national currencies of allied nations and to facilitate direct ruble quotations to meet the Russian economy's demand for national currency payments.
Alongside Argentina and Mexico, the newly authorized countries include Cambodia, Ethiopia, Laos, Nigeria, and Tunisia. Notably, the announcement for Mexico follows closely after the United States imposed tariffs on its products; however, Russian officials clarified that this development is unrelated, being part of the implementation of a federal trade law adopted in July 2023.
In related news, U.S. President Donald Trump has threatened tariffs on the European Union, prompting protests from several European nations. Russian President Vladimir Putin commented on the situation, suggesting that Trump would soon restore order among European elites, as reported in a preview of an interview set to air on Russian state television.