New Delhi, March 21 -- Brazilian Finance Minister Fernando Haddad, who is seen as the potential political heir of 80-year-old President Luiz Inacio Lula da Silva, has resigned, according to a decision published in Brazil's official gazette Friday.

Haddad, who lost against former President Jair Bolsonaro in the 2018 run-off vote, said Thursday he will run for governor of Sao Paulo state. He will likely be up against current Gov. Tarcisio de Freitas, an ally of the embattled far-right ex-leader who has said he will run for reelection in the state.

Haddad was replaced by Dario Durigan, according to the decision signed by Lula. Durigan had been executive-secretary of the finance ministry.

"I don't run in elections to bargain, I run to win,...