While Western sanctions remain in place with Russia, Brazil is increasing its business with Moscow. Russian exports to Brazil, which is mostly fertilizer and oil, is up 13 percent. In the first quarter of 2023, Brazilian exports to Russia rose more than 38 percent. Soybeans and beef represent most of that business. The Brazilian ambassador to Russia said the Western sanctions provided ‘a window of opportunity’ for his country and they’re ready to expand this trade relationship.
