Brazil to Maintain Russian Diesel Supplies to Help Ease Pump Prices

Brazil Mines and Energy Minister Alexandre Silveira said the country will continue to import Russian diesel as long as supplies are required to help ease domestic fuel pump prices according to Bloomberg.

• Brazil has increased diesel flows from Russia this year with the cheaper supplies replacing supplies from the US. Silveira sees no pressure coming from the Biden administration to halt the imports.
• “If the import of diesel, whether Russian or from any other nation, favors keeping domestic prices down, then it is not a concern,” Silveira said. There is an “understanding that developing countries need to expand commercial ties to strengthen economically and combat inequality.”
• A five-year strategic plan for Petrobras aims on making Brazil self-sufficient in gasoline and diesel production, he said.