Latin America’s broad support for last week’s U.N. resolution calling for a cessation of hostilities in Ukraine and a withdrawal of Russian forces was a clear stand in favor of Ukraine’s sovereignty. But if the U.N. vote was cause for celebration, it was also a rare condemnation on regional leaders’ part of Russia’s actions.
Russia’s invasion of Ukraine combined with the geopolitical instability it caused made 2022 a great year to be an oil major. But while most oil producers across the globe reaped profits, Mexico’s state-owned oil company Pemex struggled financially and enters 2023 with questions about its long-term viability hanging over it.
The Community of Latin American and Caribbean States, or CELAC, met in Buenos Aires, Argentina, last week and accomplished little. While the organization is not meaningfully addressing the hemisphere’s problems, let alone solving them, small improvements could lead it to a place where it might be able to in the future.
