Brazil court overturns injunction suspending 12% oil export tax

Petroleo Brasileiro SA Petrobras

01/09/2026 13:23

BRASILIA, Sept 1 (Reuters) - A Brazilian appeals court overturned a preliminary injunction that had suspended the government's 12% tax on oil exports, according to a ruling seen by Reuters on Tuesday.
Last week, a federal court ordered the levy suspended even as the government's foreign trade chamber approved a 60-day extension, adding to uncertainty over whether the tax would remain in force.
The tax was introduced earlier this year as part of a package of government measures to shield consumers from higher oil prices. Revenue from the levy helped fund fuel subsidies for diesel, gasoline, jet fuel and cooking gas.

 (Reporting by Marcela Ayres and Isabel Teles; Editing by Gabriel Araujo)
 ((isabel.teles@thomsonreuters.com; +55 11 91033 3602))