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Without Royalties Rio Faces Budget Cuts

By Maria Lopez Conde, Contributing Reporter

RIO DE JANEIRO, BRAZIL – Last week, Supreme Court (STF) Justice Cármen Lúcia Antunes Rocha suspended the new royalties distribution law that imposes a more equitable division of oil-generated revenue between Brazil’s 26 states and Brasília. The injunction was granted just three days after the states of Rio de Janeiro, Espírito Santo and São Paulo filed lawsuits with the Supreme Court to prevent the implementation of the controversial law.

The . . .

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