IBOV 173,205 ▼ 0.05% IPSA 10,762 ▲ 0.52% IPC MEX 67,641 ▲ 0.62% MERVAL 3,176,751 ▲ 1.71% COLCAP 2,286.19 ▲ 1.09% BVL PERÚ 55,499.07 ▲ 1.21% USD/BRL5.18▲ 0.16% USD/MXN17.47— 0.00% USD/CLP922.02— 0.00% USD/COP3,443▲ 0.14% USD/PEN3.41▼ 0.46% USD/ARS1,481▲ 0.24% USD/UYU 40.22 — 0.00% USD/PYG 6,084 — 0.00% USD/BOB 6.85 — 0.00% USD/DOP59.61▲ 0.56% USD/CRC 450.59 — 0.00% USD/GTQ 7.62 — 0.00% USD/HNL 26.70 — 0.00% USD/NIO36.62▲ 0.63% USD/VES620.66▲ 5.79% USD/PAB1.00— 0.00% USD/BZD2.00— 0.00% USD/JMD156.34▼ 0.20% USD/TTD6.74— 0.00% EUR/BRL5.91▲ 0.41% BRENT 73.13 ▼ 0.03% WTI 69.84 ▼ 1.29% IRON ORE 161.91 — — COPPER 6.22 ▲ 2.03% GOLD 4,026 ▲ 0.10% SILVER 59.32 ▲ 1.96% SOY 1,140 ▲ 2.84% CORN 431.75 ▲ 7.40% WHEAT 583.00 ▲ 2.37% COFFEE 277.95 ▼ 3.07% SUGAR 14.80 ▲ 5.87% ORANGE JUICE 154.00 ▲ 9.30% COTTON 76.66 ▲ 6.98% COCOA 4,991 ▼ 0.46% BEEF 243.55 ▼ 5.40% CATTLE 367.25 ▼ 0.70% LITHIUM 77.31 ▲ 1.82% PETR4 38.14 ▲ 0.21% VALE3 78.13 ▼ 0.03% ITUB4 42.41 ▲ 0.40% BBDC4 18.17 ▲ 1.40% ABEV3 16.59 ▼ 0.84% BBAS3 20.26 ▼ 0.39% B3SA3 14.71 ▼ 1.41% WEGE3 46.79 ▼ 0.23% PRIO3 53.15 ▼ 0.26% SUZB3 39.68 ▼ 1.07% RENT3 42.25 ▼ 1.97% AZZA3 18.38 ▼ 3.21% CSAN3 3.71 ▼ 1.33% RAIZ4 0.40 ▼ 2.44% PCAR3 2.32 ▲ 1.75% GMAT3 3.83 ▼ 1.03% PSSA3 53.30 ▲ 0.08% CVCB3 1.40 ▼ 0.71% POSI3 4.06 ▲ 1.75% SLCE3 13.01 ▼ 1.21% NATU3 8.30 ▲ 4.01% BRKM5 6.61 ▲ 5.76% RANI3 7.87 ▲ 0.90% CSNA3 4.64 ▼ 1.90% CMIN3 4.16 ▼ 2.12% USIM5 8.33 ▲ 0.73% GGBR4 21.29 ▼ 0.61% ENEV3 26.71 ▼ 0.37% NEOE3 33.80 — 0.00% CPFE3 45.15 ▼ 0.77% CMIG4 10.95 ▼ 0.09% EQTL3 39.74 ▼ 0.03% LREN3 14.99 ▲ 0.13% VIVT3 34.40 ▼ 1.12% RAIL3 13.61 ▼ 0.58% KLABIN 16.89 ▼ 0.41% RAIA DROGASIL 17.16 ▼ 1.10% RDOR3 34.68 ▼ 0.09% HAPV3 10.35 ▲ 1.07% FLRY3 15.58 ▼ 0.19% SMTO3 15.35 ▲ 2.06% UGPA3 26.32 ▲ 2.81% VBBR3 29.92 ▲ 0.77% BBSE3 39.33 ▲ 0.41% BPAC11 54.51 ▼ 0.27% CURY3 35.36 ▲ 0.71% AERI3 2.05 ▼ 1.44% VIVARA 23.00 ▼ 2.29% COMPASS 24.38 ▼ 2.25% VAMOS 2.88 — 0.00% SANB11 26.82 ▲ 1.78% ASAI3 9.00 ▲ 1.93% SBSP3 29.65 ▲ 0.17% WALMEX 51.10 ▲ 0.59% GMEXICO 201.13 ▲ 0.50% FEMSA 228.93 ▲ 1.94% CEMEX 21.20 ▼ 1.58% GFNORTE 185.30 ▲ 1.68% BIMBO 57.02 ▲ 0.02% TELEVISA 9.66 ▲ 1.79% AMX 23.41 ▲ 0.86% GAP 447.15 ▲ 1.66% ASUR 308.42 ▼ 0.00% OMA 246.32 ▲ 0.57% KOF 186.16 ▼ 0.53% GRUMA 282.50 ▼ 0.24% KIMBER 38.89 ▼ 0.03% SQM-B 65,950 ▼ 1.64% COPEC 5,765 ▼ 0.64% BSANTANDER 75.00 ▲ 2.04% FALABELLA 5,911 ▲ 0.36% ENELAM 82.00 ▲ 0.60% CENCOSUD 2,127 ▲ 0.19% CMPC 1,040 — 0.00% BANCO CHILE 177.80 ▲ 0.11% LATAM AIR 26.97 ▲ 3.25% YPF 70,575 ▲ 0.75% GGAL 7,885 ▲ 2.20% PAMPA 5,085 ▲ 2.26% TXAR 677.00 ▼ 0.95% ALUAR 982.50 ▼ 0.86% TGS 9,305 ▲ 0.92% CEPU 2,340 ▲ 2.90% MIRGOR 16,075 — 0.00% COME 42.32 ▲ 2.27% LOMA NEGRA 3,600 ▲ 1.27% BYMA 306.75 ▲ 0.41% TELECOM ARG 4,053 ▲ 2.40% ECOPETROL 14.57 ▼ 1.02% BANCOLOMBIA 79.81 ▲ 0.68% GRUPO AVAL 5.12 ▲ 0.79% CREDICORP 384.74 ▲ 0.17% SOUTHERN COPPER 168.45 ▼ 1.64% BUENAVENTURA 28.58 ▼ 6.05% MERCADOLIBRE 1,683 ▲ 0.48% NUBANK 13.13 ▼ 0.30% XP 16.31 ▲ 1.12% PAGSEGURO 9.08 ▲ 0.11% STONE 10.89 ▼ 0.91% GLOBANT 30.08 ▲ 0.17% TECNOGLASS 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2.42% USD/JPY162.28▲ 0.20% USD/CNY6.78▼ 0.26% DAX 24,627 ▼ 0.18% CAC 8,367 ▼ 0.21% FTSE 10,484 ▼ 0.23% MIB 51,163 ▼ 0.20% IBEX 19,387 ▼ 0.20% STOXX 636.11 ▲ 0.04% EUR/USD1.14▼ 0.18% GBP/USD1.32▲ 0.33% SPX 7,440 ▲ 1.18% DJI 52,183 ▲ 0.59% NDX 29,775 ▲ 2.25% RUT 3,010 ▲ 0.01% TSX 34,824 ▼ 0.45% VIX 17.65 ▼ 4.13% USD/CAD1.42▲ 0.13% US10Y 4.3740 ▲ 0.05% IBOV 173,205 ▼ 0.05% IPSA 10,762 ▲ 0.52% IPC MEX 67,641 ▲ 0.62% MERVAL 3,176,751 ▲ 1.71% COLCAP 2,286.19 ▲ 1.09% BVL PERÚ 55,499.07 ▲ 1.21% USD/BRL 5.18 ▲ 0.16% USD/MXN 17.47 ▼ 0.00% USD/CLP 922.02 ▲ 0.00% USD/COP 3,443 ▲ 0.14% USD/PEN 3.41 ▼ 0.46% USD/ARS 1,481 ▲ 0.24% USD/UYU 40.22 — 0.00% USD/PYG 6,084 — 0.00% USD/BOB 6.85 — 0.00% USD/DOP 59.61 ▲ 0.56% USD/CRC 450.59 — 0.00% USD/GTQ 7.62 — 0.00% USD/HNL 26.70 — 0.00% USD/NIO 36.62 ▲ 0.63% USD/VES 620.66 ▲ 5.79% USD/PAB 1.00 — 0.00% USD/BZD 2.00 — 0.00% USD/JMD 156.34 ▲ 0.45% USD/TTD 6.74 ▲ 1.49% EUR/BRL 5.91 ▲ 0.41% BRENT 73.13 ▼ 0.03% WTI 69.84 ▼ 1.29% IRON ORE 161.91 — — COPPER 6.22 ▲ 2.03% GOLD 4,026 ▲ 0.10% SILVER 59.32 ▲ 1.96% SOY 1,140 ▲ 2.84% CORN 431.75 ▲ 7.40% WHEAT 583.00 ▲ 2.37% COFFEE 277.95 ▼ 3.07% SUGAR 14.80 ▲ 5.87% ORANGE JUICE 154.00 ▲ 9.30% COTTON 76.66 ▲ 6.98% COCOA 4,991 ▼ 0.46% BEEF 243.55 ▼ 5.40% CATTLE 367.25 ▼ 0.70% LITHIUM 77.31 ▲ 1.82% PETR4 38.14 ▲ 0.21% VALE3 78.13 ▼ 0.03% ITUB4 42.41 ▲ 0.40% BBDC4 18.17 ▲ 1.40% ABEV3 16.59 ▼ 0.84% BBAS3 20.26 ▼ 0.39% B3SA3 14.71 ▼ 1.41% WEGE3 46.79 ▼ 0.23% PRIO3 53.15 ▼ 0.26% SUZB3 39.68 ▼ 1.07% RENT3 42.25 ▼ 1.97% AZZA3 18.38 ▼ 3.21% CSAN3 3.71 ▼ 1.33% RAIZ4 0.40 ▼ 2.44% PCAR3 2.32 ▲ 1.75% GMAT3 3.83 ▼ 1.03% PSSA3 53.30 ▲ 0.08% CVCB3 1.40 ▼ 0.71% POSI3 4.06 ▲ 1.75% SLCE3 13.01 ▼ 1.21% NATU3 8.30 ▲ 4.01% BRKM5 6.61 ▲ 5.76% RANI3 7.87 ▲ 0.90% CSNA3 4.64 ▼ 1.90% CMIN3 4.16 ▼ 2.12% USIM5 8.33 ▲ 0.73% GGBR4 21.29 ▼ 0.61% ENEV3 26.71 ▼ 0.37% NEOE3 33.80 — 0.00% CPFE3 45.15 ▼ 0.77% CMIG4 10.95 ▼ 0.09% EQTL3 39.74 ▼ 0.03% LREN3 14.99 ▲ 0.13% VIVT3 34.40 ▼ 1.12% RAIL3 13.61 ▼ 0.58% KLABIN 16.89 ▼ 0.41% RAIA DROGASIL 17.16 ▼ 1.10% RDOR3 34.68 ▼ 0.09% HAPV3 10.35 ▲ 1.07% FLRY3 15.58 ▼ 0.19% SMTO3 15.35 ▲ 2.06% UGPA3 26.32 ▲ 2.81% VBBR3 29.92 ▲ 0.77% BBSE3 39.33 ▲ 0.41% BPAC11 54.51 ▼ 0.27% CURY3 35.36 ▲ 0.71% AERI3 2.05 ▼ 1.44% VIVARA 23.00 ▼ 2.29% COMPASS 24.38 ▼ 2.25% VAMOS 2.88 — 0.00% SANB11 26.82 ▲ 1.78% ASAI3 9.00 ▲ 1.93% SBSP3 29.65 ▲ 0.17% WALMEX 51.10 ▲ 0.59% GMEXICO 201.13 ▲ 0.50% FEMSA 228.93 ▲ 1.94% CEMEX 21.20 ▼ 1.58% GFNORTE 185.30 ▲ 1.68% BIMBO 57.02 ▲ 0.02% TELEVISA 9.66 ▲ 1.79% AMX 23.41 ▲ 0.86% GAP 447.15 ▲ 1.66% ASUR 308.42 ▼ 0.00% OMA 246.32 ▲ 0.57% KOF 186.16 ▼ 0.53% GRUMA 282.50 ▼ 0.24% KIMBER 38.89 ▼ 0.03% SQM-B 65,950 ▼ 1.64% COPEC 5,765 ▼ 0.64% BSANTANDER 75.00 ▲ 2.04% FALABELLA 5,911 ▲ 0.36% ENELAM 82.00 ▲ 0.60% CENCOSUD 2,127 ▲ 0.19% CMPC 1,040 — 0.00% BANCO CHILE 177.80 ▲ 0.11% LATAM AIR 26.97 ▲ 3.25% YPF 70,575 ▲ 0.75% GGAL 7,885 ▲ 2.20% PAMPA 5,085 ▲ 2.26% TXAR 677.00 ▼ 0.95% ALUAR 982.50 ▼ 0.86% TGS 9,305 ▲ 0.92% CEPU 2,340 ▲ 2.90% MIRGOR 16,075 — 0.00% COME 42.32 ▲ 2.27% LOMA NEGRA 3,600 ▲ 1.27% BYMA 306.75 ▲ 0.41% TELECOM ARG 4,053 ▲ 2.40% ECOPETROL 14.57 ▼ 1.02% BANCOLOMBIA 79.81 ▲ 0.68% GRUPO AVAL 5.12 ▲ 0.79% CREDICORP 384.74 ▲ 0.17% SOUTHERN COPPER 168.45 ▼ 1.64% BUENAVENTURA 28.58 ▼ 6.05% MERCADOLIBRE 1,683 ▲ 0.48% NUBANK 13.13 ▼ 0.30% XP 16.31 ▲ 1.12% PAGSEGURO 9.08 ▲ 0.11% STONE 10.89 ▼ 0.91% GLOBANT 30.08 ▲ 0.17% TECNOGLASS 46.21 ▲ 3.26% GAP AIRPORT 254.56 ▲ 0.66% ASUR 308.42 ▼ 0.00% OMA AIRPORT 113.12 ▲ 1.01% AMX ADR 26.75 ▲ 1.29% FEMSA ADR 131.20 ▲ 1.81% CEMEX ADR 12.14 ▼ 1.14% PETROBRAS ADR 16.28 ▼ 0.06% VALE ADR 15.03 ▼ 0.27% ITAU ADR 8.22 ▼ 0.12% SANTANDER BR 5.23 ▲ 0.48% AMBEV ADR 3.18 ▼ 1.55% CSN 0.91 ▼ 3.02% GERDAU 4.13 ▼ 0.48% LATAM ADR 58.75 ▲ 0.03% BTC 59,468 ▼ 1.12% ETH 1,590 ▼ 1.25% SOL 74.00 ▼ 1.26% XRP 1.05 ▼ 0.88% BNB 552.50 ▼ 1.10% ADA 0.15 ▼ 0.20% DOGE 0.07 ▼ 1.25% AVAX 6.60 ▼ 0.95% LINK 7.30 ▼ 0.90% DOT 0.82 ▼ 0.82% LTC 42.60 ▼ 1.11% BCH 199.33 ▼ 0.58% TRX 0.32 ▼ 0.51% XLM 0.19 ▲ 6.20% HBAR 0.07 ▼ 0.90% NEAR 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Tuesday, June 30, 2026

Latin America Argentina

How Argentina Became Israel’s Strongest Ally as Latin America Turned Away

By · April 17, 2026 · 4 min read

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Key Points

Latin America has split sharply over Israel since October 7, 2023: Bolivia severed relations, Colombia broke ties, Chile and Honduras recalled ambassadors, and Brazil’s Lula was declared persona non grata after comparing Gaza to genocide

Argentina under Milei has moved in the opposite direction: three state visits to Israel, an IRGC terrorist designation, Iran’s diplomat expelled, UN voting reversed, the Genesis Prize accepted, and a US$1 million “Isaac Accords” initiative launched to build pro-Israel coalitions across the continent

Milei travels to Israel this weekend (April 19–22) to receive the Presidential Medal of Honor and potentially inaugurate an Argentine embassy in Jerusalem — which would make Argentina the seventh country to relocate its diplomatic mission to the disputed city

Deep Dive

For the complete picture, read our in-depth guide: Argentina Economy 2026: Growth, Reforms and Investor Guide

The Rio Times, the Latin American financial news outlet, reports that the Argentina Israel alliance under President Javier Milei has become the most dramatic foreign policy realignment in the region since the left-wing wave of the early 2000s — and it is moving in the opposite direction of almost every major neighbor. While most of Latin America has distanced itself from Israel over the Gaza war, Milei has made the relationship a defining pillar of his presidency.

His third visit to Israel, scheduled for April 19–22, will be the exclamation point. Israeli President Isaac Herzog will confer the Presidential Medal of Honor — the country’s highest civilian decoration — and Milei will become the first foreign leader to light the Independence Day torch on Mount Herzl. The embassy relocation to Jerusalem, while not yet formally confirmed by Argentina’s foreign ministry for this specific trip, is widely expected to be inaugurated during the visit.

The Continental Split

The Hamas attack on October 7, 2023, and the subsequent Israeli military campaign in Gaza triggered a cascade of diplomatic ruptures across Latin America. Bolivia severed relations entirely, Colombia’s President Petro broke ties and compared Israeli operations to genocide, and Chile under Boric recalled its ambassador and downgraded its mission — while Honduras pulled its ambassador despite having previously moved its own embassy to Jerusalem.

How Argentina Became Israel’s Strongest Ally as Latin America Turned Away. (Photo Internet reproduction)
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Brazil’s Lula delivered the sharpest verbal attack, comparing the Gaza operation to the Holocaust at a BRICS summit — a remark that led Israel to declare him persona non grata and recall its ambassador from Brasília. The diplomatic freeze between Latin America’s two largest economies and Israel was effectively complete by mid-2024.

Against this backdrop, Argentina moved in the opposite direction — systematically and with increasing speed.

Milei’s Pro-Israel Escalation Ladder

The sequence has been deliberate. In February 2024, barely two months after his inauguration, Milei made Israel his first state visit — arriving while the Gaza war was at its most intense. He prayed at the Western Wall, toured the devastated kibbutz of Nir Oz, and declared Argentina’s “unconditional solidarity.” No other Latin American leader visited Israel during that period.

In June 2025, he returned for a second visit and announced from the Knesset floor that Argentina would move its embassy to Jerusalem in 2026. He received the Genesis Prize — informally known as the “Jewish Nobel” — and used the US$1 million award to launch the Isaac Accords, a diplomatic initiative modeled on the Abraham Accords aimed at building pro-Israel coalitions with Uruguay, Panama, and Costa Rica.

In early April 2026, during the Iran war, Milei designated the IRGC a terrorist organization and expelled Iran’s top diplomat from Buenos Aires within 48 hours, while also reversing years of Argentine UN votes and designating Hamas and Hezbollah as terrorist organizations. Israel’s foreign minister, Gideon Sa’ar, responded by declaring 2026 “the year of Latin America” for Israeli diplomacy.

Why Milei, and Why Now

Three factors explain the depth of the alignment. First, personal conviction: Milei has studied Torah, expressed interest in converting to Judaism, and describes himself as a “fervent Zionist.” His spiritual connection to Jewish tradition predates his political career and appears genuine rather than purely instrumental.

Second, the AMIA factor. Argentina is the site of Latin America’s worst terrorist attacks — the 1992 Israeli embassy bombing that killed 29 and the 1994 AMIA Jewish community center attack that killed 85, both attributed to Iranian-backed Hezbollah. The cases remain unresolved three decades later, and Milei has weaponized the memory to justify anti-Iran measures that previous governments avoided.

Third, strategic calculation. The Israel relationship is inseparable from the Trump relationship, and the Trump relationship is inseparable from the IMF. Milei needs US support for Argentina’s debt restructuring, and aligning with Washington and Jerusalem on the Iran war positions Buenos Aires as a reliable ally at exactly the moment when Argentina is asking for financial favors.

The Risk Calculus

The alignment carries costs. Iran has historically used proxy networks and energy disruptions to retaliate against perceived enemies, and the IRGC designation and diplomatic expulsion have eliminated any buffer between Buenos Aires and Tehran. Argentina is simultaneously trying to attract foreign investment, stabilize its currency, and rebuild international credibility after Milei’s first two years of radical economic reform.

The broader regional dynamic may shift: Israel’s foreign ministry has flagged election cycles in Brazil (October 2026) and Colombia (May 2026) as potential turning points, with right-leaning successors potentially reopening ties, and Chile under Kast has already signaled a warmer posture. Whether Milei’s solo act becomes a regional trend or remains an Argentine exception will depend on those ballots — and on whether the wars produce outcomes that change the political calculus for Latin American voters.

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