Beyond the US, Russia's Oil Supply to Brazil Rises Sharply

  New data shows that Brazil is Latin America's biggest market, increasing purchases of its oil products from Russia. According to Bloomberg on Sunday (20/8/2023), statistical data from the Kpler Institute shows that Brazil has increased its imports of petroleum products, including gasoline and diesel from Russia, which set a new record this month. In an effort to create new markets for its oil products, Moscow has strengthened its position among Latin American countries in the field of fuel supply day by day since the imposition of sanctions on its oil industry. Victor Katona, senior oil expert at the Kpler Institute said, "Brazil is the biggest market in Latin America. That's why Russian refiners are focusing on this country." It is estimated that exports of Russian oil products to Brazil in August will increase by 25% compared to the previous month. Even during this period Moscow exported 235 thousand barrels of oil products to Brasilia per day. Kpler has announced that the export of this oil product will make Russia the largest supplier of fuel to Brazil leaving the United States.(PH)