Brazil called settlements in rubles and reals a priority in trade with the Russian Federation

Brief retelling from RIA II

Brazil considers it a priority to expand the use of national currencies - the Russian ruble and the Brazilian real - in bilateral trade, said the Republic's ambassador to Moscow, Sergio Rodriguez dos Santos.

Brazil sees the greatest potential for the transition to national currencies in the agricultural sector.

Today, the share of direct payments in rubles and reals is about 10% of total trade turnover.

MOSCOW, September 23 - RIA Novosti. Brazil considers it a priority to expand the use of national currencies - the Russian ruble and the Brazilian real - in bilateral trade, while seeing the greatest potential in the agricultural sector, said the Republic's Ambassador to Moscow Sergio Rodriguez dos Santos.

“The priority now is to expand the use of national currencies, the Russian ruble and the Brazilian real, in certain trade transactions. We consider this direction to be the most realistic at this stage. Certain stages still have to go through before the transition to the use of a single currency (within BRICS - ed.) or larger settlement mechanisms,” the ambassador told Izvestia.

According to the ambassador, the fastest way to transfer trade to rubles and reals is in the agricultural sector. Russia remains the largest supplier of mineral fertilizers for Brazil, providing 26% of total imports of agrochemicals and 45% of potash fertilizers, while soybeans, meat and coffee come from Brazil to the Russian Federation.