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(Bloomberg) — Brazil is negotiating to purchase cheaper diesel from Russia as a part of a technique to scale back home gasoline costs, in accordance with President Jair Bolsonaro.
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The deal would come after Bolsonaro visited President Vladimir Putin in February, simply days earlier than Russia invaded Ukraine, in a bid to make sure a gentle provide of fertilizer exports to Brazil.
“I’ll possible purchase cheaper diesel from Russia,” the president informed supporters on Monday as he left the residential palace in Brasilia, including that gasoline costs are additionally falling after most state governors agreed to scale back taxes on gasoline. “All the things goes effectively in Brazil.”
Excessive gasoline costs and inflation have been the primary financial challenges for Bolsonaro as he seeks re-election in October. The conservative chief has been trailing leftist former President Luiz Inacio Lula da Silva in all main opinion polls lower than three months earlier than the vote.
Learn Extra: Brazil’s Bolsonaro Backs Impartial View on Russia Invading Ukraine
Regardless of sanctions imposed by the US and its allies on Russia, the Brazilian authorities has continued to barter with Moscow because it seeks to stay impartial concerning the battle.
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