Halfway around the world from Ukraine, war's impact hits Brazil environment

Economy

Published: March 29, 2022 10:59 am

By David Callaway, Callaway Climate Insights

(Michael Molinski is a senior economist at Trendline Economics. He’s worked for Fidelity, Charles Schwab and Wells Fargo, and previously as a foreign correspondent and editor for Bloomberg News and MarketWatch.)

SÃO PAULO (Callaway Climate Insights) — Brazil is enmeshed in a war on trade, fertilizers and the environment due to the war between Russia and Ukraine, half a world away.

Brazil’s far-right president, Jair Bolsonaro, is stuck. On one hand, he defends Russia’s invasion of the Ukraine and he remains neutral on trade, not wanting to enact trade sanctions on Russia as many Latin American countries have done.

On the other hand, Brazil imports 95% of its fertilizers, and Russia is its major supplier, accounting for one-fourth of its fertilizers last year. Since the war broke out, fertilizer exports from Russia have come to a virtual standstill.

“With the Russia/Ukraine war we now face the risk of a lack of potassium or that its price rises,” Bolsonaro wrote on Twitter. . . .

To read the full column, all our insights, news and in-depth interviews, please subscribe and support our great climate finance journalism.

Callaway Climate Insights Newsletter

Are You Still Paying With a Debit Card?

The average American spends $17,274 on debit cards a year, and it’s a HUGE mistake. First, debit cards don’t have the same fraud protections as credit cards. Once your money is gone, it’s gone. But more importantly you can actually get something back from this spending every time you swipe.

Issuers are handing out wild bonuses right now. With some you can earn up to 5% back on every purchase. That’s like getting a 5% discount on everything you buy!

Our top pick is kind of hard to imagine. Not only does it pay up to 5% back, it also includes a $200 cash back reward in the first six months, a 0% intro APR, and…. $0 annual fee. It’s quite literally free money for any one that uses a card regularly. Click here to learn more!

Flywheel Publishing has partnered with CardRatings to provide coverage of credit card products. Flywheel Publishing and CardRatings may receive a commission from card issuers.