While visiting Russia last week, Argentinian President Cristina Fernández de Kirchner made it clear to a gathered group of businessmen that their investments in her country would be most welcomed.

Despite the fact that Russia’s commercial interests in Latin America have grown over the past decade, the fruits of a free flowing trade between Russia and the region have been overshadowed by Putin's greater need for political allies.

As quoted in the Financial Times, Diana Negroponte, a Cold War specialist at the Wilson Center, summed up the situation, saying, “Russia needs friends, not only in trade but also at the U.N., and it is looking for them wherever it can.”

Negroponte points out that a country like Argentina, which has had a history of tense relations with western powers like the U.S. and the U.K., would make a perfect ally for Russia.

The two nations are certainly sharing what seems to be a quid pro quo relationship.

De Kirchner thanked Russian President Vladimir Putin for his support in her government’s legal dispute with “holdout” hedge funds, which have interrupted foreign investment in Argentina, as well as Argentina's controversial claim over the Falkland Islands.

In return for Putin’s support, Argentina abstained in a 2014 U.N. vote that called on member states not to recognize Russia’s annexation of Crimea.

Russia has previously pointed out the supposed similarities between the Falklands and Crimea.

As reported in the Daily Express, Alexei Pushkov, the head of the Russian parliament’s foreign affairs committee, wrote via his Twitter account, "Take notice, London. Crimea has immeasurably more grounds to be part of Russia than the Falklands to be part of Britain."

According to Negroponte, Russian trade dealings with Latin America has jumped from $3 billion in 2000 to around $24 billion in 2013.

Aside from Argentina, the analyst has observed that Russia is actively strengthening its ties with Latin countries such as Cuba, Nicaragua and Venezuela -- nations which have all had their own respective tensions with Washington.