Abstract. The article considers the results of the development of Brazil, the largest Latin American country, during the year and a half of Lula da Silva’s rule. After the landmark victories of the left in the elections in Colombia and Chile, Lula’s victory was a continuation of the regional political trend of the early 21st century. At the same time, this victory was won with a minimal margin, which indicates a deep split in Brazilian society. The president had to govern a country in which the parliament is controlled by opposition forces. The author analyzes the main directions of Lula da Silva’s foreign and domestic policy, the prospects for cooperation with Russia in the context of Western anti-Russian sanctions. The central points of the new president’s program were: social support for the population, strengthening the role of the state in modernizing the economy, reforming the tax system, as well as combating climate change and protecting the Amazon forest. A similar socially-oriented model of development was already implemented by left-wing governments until 2014. However, later changes in global conditions brought to the fore the task of increasing the competitiveness of the national economy and strengthening the position of private capital. Lula da Silva’s proclaimed domestic policy for 2023–2026 has been adjusted under pressure from the opposition and current realities. The strategic directions of reforming the Brazilian economy today are reindustrialization and improving the quality of infrastructure, ensuring the financial stability of the state, reducing bureaucracy and increasing the efficiency of public administration, improving the business environment and creating conditions for attracting private investment in the modernization of the economy. As for Brazil’s position on Russia, Lula continued the policy of J. Bolsonaro aimed at mutually beneficial cooperation and non-alignment with Western anti-Russian sanctions.