Brazil to Get Cheaper Russian Oil Despite Soaring Gas Prices: Reports

Amid soaring fuel prices in Brazil, President Jair Bolsonaro has said his country is close to a deal with Russia to buy low-cost diesel. The major development came ahead of elections which are scheduled for October this year. According to a report by the Sputnik news agency, the 67-year-old Brazilian leader did not further reveal how he would finalize the deal without coming under fire from Western sanctions. Notably, the European Union imposed a ban on Russian oil and refined petroleum products. On the other hand, US President Joe Biden also signed an executive order prohibiting the import of Russian oil, liquefied natural gas and coal in order to penalize Moscow for its action against Ukraine.

Since Russian President Vladimir Putin launched a full-fledged attack on neighboring country Brazil, which is a former ally of Moscow, visited Russia just days after the so-called “special military operations”. After being criticized for his visit to Moscow, Bolsonaro said his relationship with the Russian leader has allowed Brazil to maintain access to fertilizers that are crucial for the country’s vast agribusiness sector, PressTV reported.

Countries importing Russian energy despite EU sanctions

It should be remembered that the EU has been imposing sanctions since the start of the war. Earlier in April, he imposed sanctions on Russian coal, worth 4 billion euros ($4.39 billion) a year. “We have just adopted our 6th package of tough sanctions against Russia and we will keep the pressure on. Europe will support Ukraine for as long as it takes, with all possible financial, technical and humanitarian assistance. We will help rebuild, reform and modernize,” European Commission President Ursula von der Leyen said following the imposition of the sixth round of sanctions against Russia.

Despite the European Union’s announcements of several rounds of punitive measures against the Kremlin, a report claims that Moscow exported a large part of its oil exports to European countries. According to a report by the Center for Energy and Clean Air Research, Russia exported 63 billion euros worth of fossil fuels after launching a devastating war against Ukraine. Surprisingly, Russia has generated 71% income from European countries since announcing to minimize its dependence on Russian energy. Within the EU, Germany remains the largest buyer of Russian gas, according to the report.

Image: Pixabay/AP

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