Opportunities for Developing Trade and Investment Cooperation in Key Sectors between Brazil and Russia under Sanctions Regime

This paper aims to identify the possibilities of countering the sanctions imposed on the Russian Federation by Western countries through cooperation with neutral BRICS countries, specifi cally Brazil. A significant number of Russian technological goods, such as cars, trains, airplanes, and agricultural machinery, were produced within the framework of global technological chains, which have now been severed. Restrictive measures against the Russian fi nancial system have become one of the most important elements of the Western sanctions package. Manufacturing section is the leading import category, with the value of Brazilian imports from Russia increased significantly. Similarly, mining and quarrying products are important imports, with a steady increase in value over the years. Brazil’s exports to Russia are mainly concentrated on semi-manufactured products such as sugar from sugarcane, fresh, chilled or frozen meat in cuts or carcasses, and processed fruits and vegetables, as well as agricultural products, notably soybeans. Russia’s trade with Brazil faces several challenges, but however, Russia can explore new areas of cooperation, such as energy, aviation, woodworking, shipbuilding, and veterinary medicine. At the BRICS summit in Kazan the creation of a new payment system that will include the transmission of financial messages and the use of digital fi nancial assets was announced too. The author proposes several strategies to expand this cooperation and argue in favor of its effectiveness. In conclusion, the author suggests that the cooperation between Russia and Brazil has the potential to mitigate the impact of the imposed sanctions and expand the bottlenecks of the Russian economy.