The current economic competition between the Russian Federation and the United States in the Western Hemisphere bears striking similarity to the political antagonism prevalent during the Cold War. This deep seated rivalry still influences world affairs, as the United Nations Security Council cannot enact any major decision without an agreement between those two powers. However, a pragmatic view of the world economy plays a greater role now in the determination of Russia’s priorities and strategies as it begins to catch up with the U.S. in its exposure to Latin American economic interests.
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