Russia To Provide Brazil With Nuclear Power Plants & Fertilizer
Russian President Vladimir Putin met with Brazilian President Jair Bolsonaro yesterday (Wednesday, February 16) in Moscow in a trade meeting that culminated in energy and agriculture agreements.
Brazil is a member of the BRICS grouping and has common interests with Russia in agriculture. The country has a politically strong agribusiness lobby, with Brazil’s President discussing the purchase of much-needed fertilizers. The deal also impacts Ukraine, another large volume fertilizer producer, as it ties Brasilia to Moscow and not to Kiev. Much of the US$5 billion that Brazil imported from Russia in 2021 was made up of Fertilizer products, with this now set to significantly increase.
Bolsonaro also agreed for Russia’s Rostacom nuclear agency to provide and build new small reactor power units in Brazil, including low-capacity nuclear power plants, both on land and in floating versions. Rosatom has previous experience in Brazil, signing an agreement with Brazil’s state-owned Eletronuclear in September last year to manage the country’s two existing reactors, cooperate on the construction and maintenance of new nuclear power plants, and assist with the processing of nuclear materials and radioactive waste management.
Russia imported US$2.35 billion from Brazil in the period February 2021 to January 2022, with most imports being Brazilian Coffee, Soybeans, Ground Nuts, Poultry Meat and Raw Tobacco.
Both countries import-export flows over the past twelve months have been somewhat erratic, which is not conducive to production planning: a better managed trade and economic partnership will have been very much part of the discussions.
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