International

Brazil’s Petrobras hikes prices, ignoring Bolsonaro

AFP

Brazilian state-run oil company Petrobras announced hefty increases in gasoline and diesel prices Thursday in response to the Ukraine crisis, ignoring President Jair Bolsonaro’s criticism of what he calls excessive prices.

Petrobras said it would raise the price of gasoline from its refineries by 18.8 percent and diesel by 24.9 percent from Friday, citing the “worldwide surge in the prices of oil and oil derivatives as a result of the war between Russia and Ukraine.”

The company said the move was in line with increases by other fuel suppliers, and emphasized that it had not raised prices in nearly two months.

But the move will likely irk the far-right president, who has been trying to rein in surging fuel prices and inflation more broadly, phenomena which are hurting his popularity as he gears up to seek reelection in October.

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Bolsonaro, who regularly criticizes Petrobras for high prices, said Monday the company’s policy of parity with international prices “cannot continue.”

Petrobras shares dove more than seven percent following the comment.

That echoed a stock plunge of more than 20 percent just over a year ago, when Bolsonaro changed Petrobras’s chief executive after saying the company should not be constantly “surprising people” with price increases.

Bolsonaro is pushing for Congress to pass legislation to bring fuel prices down, though experts say the short-term impact would be minimal.

He is also reportedly looking at decreeing emergency subsidies to lower prices.

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Both measures are unpopular with fiscal conservatives.

Surging prices in Brazil, where the annual inflation rate stands at 10.38 percent, are a weak spot for Bolsonaro as he eyes a tough reelection battle in seven months, likely against leftist ex-president Luiz Inacio Lula da Silva.

The international oil market has been rocked by volatility since Russia invaded Ukraine two weeks ago.

The Brent crude price hit a peak of $139 a barrel Monday, a 14-year high, before falling to around $116 Thursday.

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International

ICE agent arrested in Texas over shooting of Venezuelan migrant in Minnesota

U.S. authorities arrested an Immigration and Customs Enforcement (ICE) agent on Friday in Texas after he was accused of shooting a Venezuelan migrant in Minnesota earlier this year and later providing false information about the incident.

The suspect, identified as Christian Castro, faces four counts of second-degree assault, along with an additional charge related to filing a false official report. He was taken into custody after investigators from the Minnesota Bureau of Criminal Apprehension located him, according to a statement from the Hennepin County Attorney’s Office.

The case stems from a January operation carried out by ICE during which Castro shot Julio César Sosa, a Venezuelan migrant, in the leg. Prosecutors allege that the agent later submitted a misleading account of the incident, claiming that Sosa and another migrant had attacked officers with a shovel and a broomstick.

However, investigators say that video evidence and further findings contradicted that version of events, leading to the dismissal of charges initially brought against the migrants by federal prosecutors.

ICE’s acting director, Todd Lyons, acknowledged in February that agents involved in the incident had given “false sworn testimony” about what occurred.

Hennepin County Attorney Mary Moriarty described Friday’s arrest as a “critical step forward” in the judicial process and reaffirmed that the investigation remains ongoing.

International

U.S. classifies CV and PCC as terrorist groups in major policy shift

The United States government announced on Thursday that it will add the Brazilian criminal organizations Comando Vermelho (CV) and Primeiro Comando da Capital (PCC) to its list of Foreign Terrorist Organizations (FTO), a designation set to take effect on June 5, 2026.

The State Department justified the decision by stating that both groups are among the most powerful criminal organizations in Brazil and accused them of coordinating violent attacks against police officers, public officials, and civilians.

The designation comes just days after Brazilian senator and presidential hopeful Flávio Bolsonaro directly asked U.S. President Donald Trump to classify these groups as “narco-terrorist” organizations during a visit to the White House.

Bolsonaro, who is running in Brazil’s upcoming presidential election in October, has made tougher action against organized crime and prison-based gangs a central part of his campaign platform.

He is part of a political dispute with current Brazilian President Luiz Inácio Lula da Silva, who has opposed the U.S. classification, warning it could open the door to potential foreign military intervention in Brazilian territory.

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The Comando Vermelho and Primeiro Comando da Capital emerged in Brazilian prisons during the 1970s and have since expanded their influence, now controlling extensive criminal activities including drug trafficking, extortion, smuggling, and other illicit operations.

According to security experts and Brazilian authorities, both organizations have tens of thousands of members and support networks spread across multiple states in the country.

The U.S. measure aims to increase financial and operational pressure on these groups by restricting funding sources, limiting international mobility, and expanding cooperation in security enforcement efforts.

International

U.S.–Iran pre-agreement aims to de-escalate tensions and secure key trade route

The United States confirmed on Thursday that its negotiators have reached a preliminary agreement with Iran aimed at reopening the Strait of Hormuz and extending the current ceasefire, though the understanding still requires final approval from U.S. President Donald Trump.

U.S. government sources confirmed information first reported exclusively by Axios, stating that the deal now only awaits the president’s endorsement.

According to Axios, citing two senior U.S. officials, the draft agreement stipulates that navigation through the Strait of Hormuz—previously blocked by Iran in response to U.S. and Israeli military actions—would be “unrestricted.”

The agreement reportedly includes provisions under which Iran would not impose transit fees in the strategic waterway, a critical route for global oil shipments. In parallel, the United States would lift maritime restrictions on vessels entering and leaving Iranian ports.

The memorandum of understanding also contains a commitment from Iran not to develop nuclear weapons, a key red line for President Trump. However, discussions on limiting Iran’s uranium enrichment would be postponed to later negotiations.

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These issues are expected to be addressed during a 60-day extension of the ceasefire, which has been in place since April.

In addition, the United States would consider easing sanctions on Iran and releasing frozen Iranian assets as part of the broader diplomatic framework.

Negotiations between Washington and Tehran have intensified over the past week with mediation from Pakistan, as both sides seek to formally end the conflict that began on February 28 involving the United States and Israel.

The White House has recently stated that a deal was “a matter of days away,” while Tehran has tempered expectations, suggesting that an agreement is not yet imminent.