ST. PETERSBURG, June 15. /TASS/. Russia and Brazil continue fertilizer trade, despite the problems caused by the sanctions, Rafael Guimaraes Requiao, Agricultural Attache at the Embassy of Brazil in Moscow, told TASS on Wednesday.

"As you know, the political and financial situation in the world creates a number of difficulties. Thanks to serious efforts both on the part of Russia and on the part of Brazil, we are managing to maintain [trade] flow," he said on the sidelines of the St. Petersburg International Economic Forum (SPIEF).

According to the Brazilian diplomat, problems linked with payments, insurance and freight entail uncertainties and "somewhat delay decision-making," which tells on the price.

He noted that Russia "is a key seller of fertilizers for Brazil’s agricultural sector," and the latter is a seller of food for the entire world. "That is why, it should be a global priority for the world, which needs cheaper food, to maintain and expand the flow of Russian fertilizers to Brazil," he stressed.

He drew attention to the fact that last year the two countries reached the highest trade indices in recent years. "For the first time, we managed to approach the target of ten billion US dollars for bilateral trade. So, we do have difficulties but, obviously, the situation requires emergency measures," he said.

A business dialogue Russia-Brazil was held as part of the St. Petersburg International Economic Forum. Participants - diplomats and businessmen - discussed issues of cooperation in various spheres, including agriculture, pharmaceuticals, energy, and banking.

The 26th St. Petersburg International Economic Forum (SPIEF) — Russia’s showcase annual economic and business event — is being held on June 14-17. The theme of this year’s forum is: "Sovereign Development as the Basis of a Just World: Joining Forces for Future Generations." TASS is the official information partner of the event.

SPIEF’s expanded business program offers attendees the opportunity to participate in more than 140 sessions featuring over 1,000 moderators and speakers, according to event organizer Roscongress Foundation.