There is a legitimate economic bias for Bolsonaro to go to Russia, says expert

In an interview with CNN Rádio, OhmResearch CEO and economist Roberto Attuch Junior stated that there are “two angles” to be observed in President Jair Bolsonaro’s trip to Russia.

The Brazilian president arrived in the Russian capital this Tuesday (15th) and is scheduled to start tomorrow, when he is due to meet President Vladimir Putin.

“There is a legitimate economic bias [para a viagem], due to the question of raw material for fertilizers. Russia banned exports for two months as a way of putting pressure on Europe, and unlocking imports is important. The other is a political factor, of Bolsonaro being seen with ultraconservative leaders,” explained Attuch.

The tensions between Russia, Ukraine and the NATO countries, according to the economist, take into account different interests of all parties.

“Even so, I always bet on a peaceful solution”, he defended.

“Russia wants armored guarantees that Ukraine is not part of NATO, there is this Russian resentment with the West, which has not lived up to the verbal agreement that it will not walk an inch eastward after the unification of Germany,” he explained.

On the other hand, “the United States wants, almost as an obsession, to cancel the Nord Stream, a gas pipeline that will pass through the Baltic Sea”. Germany, in turn, in the economist’s assessment, seeks to maintain the “status quo”, while French President Emmanuel Macron seeks a diplomatic victory two months before the elections.

As far as the economic question is concerned, Attuch said that in the case of draconian sanctions on Russia, “we would be talking about oil at 120, 150 dollars and commodity prices over the moon, with a crisis that would throw the world into stagflation.”