Brazil has seen a surge in Russian diesel imports since January, with companies like Petrobras and Vibra expressing concerns about the high volumes. However, experts predict that this trend will slow down by July and is only temporary. The import volume of diesel from Russia by Brazil in 2023 took an upward trend from January to June. In February, Brazil imported $98 million worth of Russian fuel, which increased to $344.6 million in June. As a result, Russia has now surpassed the United States as Brazil’s top diesel supplier, with the Americans selling only $80.3 million worth of fuel in June compared to $309 million in January.
Source: Valor Econômico (*Translated by Ia Niani)