Lula’s Moscow mission: Joint ventures in uranium mining, LNG, and fertiliser production

Brazilian President Luiz Inácio Lula da Silva is preparing for a strategic visit to Russia aimed at deepening economic cooperation and positioning Brazil as a key diplomatic actor in international affairs.

According to the Brazilian newspaper Exame, the visit will focus on securing Russian investment in uranium mining, fertiliser production, and liquefied natural gas (LNG) infrastructure, per Caliber.Az.

Citing sources within the Brazilian government, Exame reports that President Lula intends to propose the establishment of a joint Brazilian-Russian venture dedicated to the exploration and development of uranium deposits in Brazil. This initiative is seen as part of broader efforts to strengthen Brazil’s energy security and diversify its international partnerships in the nuclear sector.

In addition to uranium cooperation, Lula is expected to finalise agreements with Russian counterparts on joint fertiliser production—an area where Russia is already a key supplier to Brazil. Another major component of the visit will be the signing of investment deals aimed at expanding Brazil’s LNG infrastructure, a move aligned with the country’s growing energy demands and transition strategies.

Diplomatic sources say Lula will use the visit to convey Brazil’s readiness to play an active mediating role in efforts to end the war in Ukraine. As the current chair of BRICS, Brazil has been advocating for the bloc’s participation in any future peace negotiations between Russia and Ukraine. Brazilian officials believe Moscow has shown increased openness to dialogue, noting that US involvement has been a critical factor in nudging Russia toward possible diplomatic engagement.

President Lula is scheduled to meet with Russian President Vladimir Putin during the visit. The two leaders are expected to discuss bilateral trade, investment opportunities, and broader geopolitical issues. Strengthening economic ties will be high on the agenda, particularly in light of the significant trade imbalance between the two nations.

In 2024, bilateral trade between Brazil and Russia reached $12.4 billion, with Brazil incurring a trade deficit of $9.5 billion. Diesel fuel and fertilisers comprised the bulk of Brazilian imports from Russia.

Lula’s trip comes at Putin’s invitation to attend the Victory Day parade in Moscow, commemorating the 80th anniversary of the Soviet Union’s victory in the Great Patriotic War against fascism.

By Tamilla Hasanova