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Tim Alper
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Tim Alper
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El Salvador’s President Nayib Bukele could visit Russia in 2025, with a Russian diplomat suggesting the Latin American leader could talk to Moscow about Bitcoin (BTC).
Izvestia reported that the claims came from Alexander Ilyukhin, the First Secretary of the Russian Embassy in Nicaragua and the head of the Russian office in El Salvador.
Ilyukhin said that officials in Russia and El Salvador are “working to organize a visit from Bukele to Moscow.”
Bukele Russia Trip Will Depend on Trump, Diplomat Says
However, the diplomat admitted that the visit may not take place without the blessing of US President-elect Donald Trump.
Ilyukhin conceded that Bukele has “expressed interest in visiting the Russian capital.” But the Russian diplomat said:
“Given El Salvador’s dependence on the United States, the possibility of the trip largely depends on Donald Trump’s Russia policy.”
But diplomats were also keen to point to the fact that El Salvador has taken a unique path on the international scene.
They added that the Bukele government had not imposed any sanctions on Russia. Nor, they added, “has it condemned the Special Military Operation [the war in Ukraine].”
The media outlet suggested that “some Russian companies” want to move their production “away from Europe” and relocate to Latin America.
“The possibility of organizing a visit is being worked on. The mood in both countries is positive. However, the practicalities depend on the confluence of many factors and the international situation. One of these factors will be […] what the initial period of Donald Trump’s administration is like. Various problems may unexpectedly arise.”
Alexander Ilyukhin, First Secretary of the Russian Embassy in Nicaragua and head of the Russian office in El Salvador
An unnamed “source familiar with the situation” told Izvestia that Russian entrepreneurs “have now begun to consider El Salvador as a potential country for transferring production.”
Russia Pivoting to LATAM?
The source also claimed that Russian firms in the tourism goods, hunting, and fishing sectors with a view to producing “goods to be sold on the markets of Latin American countries and the USA.” The same source said:
“[El Salvador] is ready to make payments in cryptocurrency. El Salvador is the first country in the world to officially accept Bitcoin as a means of payment. Any tourist can pay for any service in Bitcoin.”
In June 2024, Salvadoran Vice President Felix Ulloa said the LATAM country would “be glad to welcome Vladimir Putin on its territory.” Diario El Salvador reported that Ulloa also confirmed Bukele’s interest in visiting Russia.
Ulloa has also spoken about prioritizing infrastructure development projects, and the government has spoken about its desire to build a 180,000km road and railway network.
It also has plans to build new airports and ports, calling all of these “potential areas for foreign investment.”
Izvestia added that “another area for potential cooperation could be nuclear energy.” It quoted Ivan Dybov, the head of Rosatom’s Latin America center, as stating that the two nations “were discussing the launch of nuclear energy projects.”
Nuclear Talks
Dybov said talks had been held over the “possibility of building a research reactor” in El Salvador.
“In recent years, relations have developed dynamically. Trade turnover has increased noticeably. Despite the significant influence of the United States, President Bukele takes a fairly independent position. In recent years, he has maintained neutrality to the Commonwealth of Independent States. He is also interested in the BRICS. The President of El Salvador is a serious pragmatist. He is a person with whom it makes sense to negotiate.”
Magomed Kodzoev, Senior Researcher at the Institute of Latin America of the Russian Academy of Sciences
Back in July this year, Ilyukhin claimed that trade between El Salvador and Russia was complicated by “difficulties due to the fact that the USD is the official currency of El Salvador.”
The diplomat said that “as an alternative,” El Salvador had suggested “using cryptocurrency in trade operations” between the two nations.
