Argentine President Javier Milei, a staunch ally of US President Donald Trump and Israel, hails the benefits of the Iran war for his country’s exports and foreign currency reserves.
The libertarian Milei, who has backed Washington and Israel’s strikes on Iran, says he expects an “improvement” in oil and agricultural exports as a result of the 10-day-old conflict.
Argentina is Latin America’s fourth-largest oil producer.
“Argentina, in this context, will see an improvement in its terms of trade because oil prices are rising, and Argentina is a net exporter,” Milei tells Argentine radio station FM NOW.
“Furthermore, all the grains that Argentina exports, soybeans, corn, and sunflower, are also rising in price,” Milei says in an interview from New York, where he is participating in an investment promotion event.
Last week, wheat reached its highest level in a year and soybeans hit their highest point since June 2014 as the war drove up energy and fertilizer costs.
Milei emphasizes that the war will boost Argentina’s efforts to build up its foreign currency reserves, as demanded by the International Monetary Fund in return for a new $20 billion loan agreement signed last year.
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