Bolivia’s Presidential Candidate Threatens to Cancel Lithium Deals with Russia and China

Bolivian presidential candidate Jorge Quiroga Ramírez announced his intention to terminate multi-billion dollar lithium contracts signed by outgoing President Luis Arce with Russia and China.

“We do not recognize these contracts. Let’s stop them; they will not be approved,” stated Quiroga.

Election Runoff Sets Stage for Policy Changes

Quiroga, who served as Bolivia’s president in the early 2000s, advanced to the second round of the presidential election with 26.7% of the vote. His opponent, Senator Rodrigo Paz, secured 32% in the first round. The runoff is scheduled for October 19.

Outgoing President Warns of Contract Risks

Current President Luis Arce previously cautioned that existing lithium agreements could collapse under a new administration. “These agreements with Russia and other contracts are certainly at risk,” Arce noted, highlighting the potential for a shift in international partnerships.

Impact on Bolivia-Russia Cooperation

Both candidates could challenge collaboration with Russia. Right-leaning technocrat Quiroga favors alignment with the U.S. and Western countries, while centrist Paz advocates a more balanced approach but is generally inclined toward cooperation with the U.S. and EU rather than Russia and China.

Strategic Importance of Bolivian Lithium

Bolivia sits within the so-called “Lithium Triangle” alongside Chile and Argentina, which collectively hold up to 60% of global lithium reserves. By 2022, Bolivia’s lithium reserves were estimated at roughly 21 million tons. In 2023–2024, Bolivia signed contracts with Russia (Uranium One, a subsidiary of Rosatom) and China (CBC, part of CATL) worth around $2 billion, covering both lithium carbonate extraction and industrial processing for battery production.

Consequences for Russia

For Russia, Bolivian lithium is strategically significant, as it is essential for producing batteries for electric vehicles, mobile devices, and renewable energy storage. Russia currently imports about 60% of its lithium-ion batteries from China, and domestic production in Murmansk is not expected to begin until 2031.