The analysis uncovers how Russia uses trade, investment, media, and covert intelligence networks to expand its footprint in Latin America’s second-largest economy. Positioned at the crossroads of North and South America, Mexico has become both a target and a conduit for Moscow’s influence campaigns. This report details Russia’s soft-power strategies, hidden financial flows, and the role of espionage in amplifying its presence. By analysing the risks of state capture and economic dependency, the study highlights the stakes for Mexico’s democratic resilience.