By Marcela Ayres
BRASILIA (Reuters) -Brazil’s Economy Minister Paulo Guedes said on Tuesday the country clearly condemns Russia’s invasion of Ukraine, but is against economic sanctions imposed on Moscow, demonstrating it will not take a tough stance against its BRICS partner.
Speaking at an online event hosted by the think tank Center for Strategic and International Studies, Guedes said Russia should not be kicked out of multilateral bodies, such as the International Monetary Fund and the World Bank, which would “destroy bridges” and “stimulate the economic war”.
“Brazil is against the war and against the sanctions, including constitutionally,” he said. “We would vote for a ceasefire immediately and lift sanctions.”
Russia has asked Brazil for support in the IMF, the World Bank and the G20 group of top economies to help it counter crippling sanctions imposed by the West since it invaded Ukraine, according to a letter seen by Reuters.
Amid disruptions in global energy and food supply chains in the wake of the conflict in Eastern Europe, Guedes stressed that Brazil is a key player in guaranteeing the security of both markets.
According to the minister, the timing is perfect for the country’s accession to the Organization for Economic Co-operation and Development (OECD) and for the trade agreement between Mercosur and the European Union to be concluded, or else Brazil will keep on increasing exports to Asia and the Middle East.
The EU and South American bloc Mercosur agreed on a free trade treaty in 2019, but it has yet to be signed. Some European countries have questioned the agreement alleging poor environmental governance by the Jair Bolsonaro administration.
(Reporting by Marcela AyresEditing by Chris Reese and Lincoln Feast.)
