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Free AccessBrazil Aiming to Buy as Much Russian Diesel as Possible
Brazil wants to buy as much diesel as it can from Russia according to is foreign minister Carlos Franca saying some deals have been signed this week.
- Bolsonaro had earlier in the week said a deal was close to start buying Russian diesel but was light on details.
- "We have to make sure that we have enough diesel to the Brazilian agribusiness and, of course, for Brazilian drivers," Franca said, "So that's why we were looking for safe and very reliable suppliers of diesel - Russia is one of them."
- Brazil is looking to buy "as much as we can" from Russia, he said.
- High fuel prices have hurt Bolsonaro's re-election hopes ahead of an October vote which is prompting him to look for ways to lower pump prices.
- Russia has found strong demand from India and China for its discounted crude but re-directing refined products has proved more difficult.
To read the full story
Sign up now for free trial access to this content.
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.