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

Iran rejects negotiations as tensions escalate with United States

Iran has no intention of entering negotiations and will continue to resist, Foreign Minister Abbas Araghchi said Wednesday night, dismissing recent statements by U.S. President Donald Trump about possible talks.

Speaking to state television, Araghchi argued that Washington’s call for negotiations reflects a position of weakness. He added that the Islamic Republic seeks to end the war on its own terms, ensuring that such a conflict does not recur in the future.

Meanwhile, the White House issued a stark warning, stating that Trump would “unleash hell” on Iran if it refuses to accept a deal to end the conflict. Despite Tehran’s rejection, U.S. officials maintained that discussions remain ongoing.

White House spokesperson Karoline Leavitt reinforced the administration’s position, warning that failure to acknowledge what she described as Iran’s military defeat would result in even stronger action from Washington.

The increasingly aggressive rhetoric from both sides has diminished hopes for a near-term de-escalation in the conflict, which began following U.S. and Israeli strikes against Iran on February 28.

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As tensions continue to rise, the prospect of a diplomatic resolution remains uncertain amid conflicting narratives and escalating threats from both governments.

International

Maduro appears again in New York court amid drug trafficking charges

Ousted Venezuelan president Nicolás Maduro appeared in a New York federal court on Thursday for the second time since his capture on January 3 during a U.S. military operation in Caracas.

Maduro, 63, and his wife, Cilia Flores, 69, have been held in a detention facility in Brooklyn for nearly three months. Their only previous court appearance took place on January 5, when Maduro declared himself a “prisoner of war” and pleaded not guilty to drug trafficking charges.

A large police convoy departed the detention center early in the morning, heading toward the federal courthouse in Manhattan, where the hearing was scheduled. Security around the building was reinforced as both supporters and opponents gathered outside.

Among those present was Venezuelan educator Carlos Egana, who expressed frustration and called for justice, reflecting the polarized reactions surrounding the case. At the same time, left-wing activists displayed banners demanding Maduro’s release and criticizing U.S. foreign policy.

Maduro governed Venezuela from 2013 until his removal from power earlier this year. Following his ouster, Delcy Rodríguez assumed the interim presidency, initiating a shift in relations with the United States.

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The former leader faces multiple charges, including narco-terrorism conspiracy, cocaine importation, and illegal possession of weapons.

During Thursday’s hearing, scheduled for 11:00 a.m. local time, Maduro’s legal team was expected to push for the dismissal of the case, while also addressing disputes over how his legal defense will be financed amid ongoing U.S. sanctions.

His lawyer, Barry Pollack, has argued that restrictions on accessing Venezuelan state funds could affect Maduro’s right to legal representation, adding another layer of complexity to a case with significant political and international implications.

International

German president says trust in U.S. leadership is ‘lost’ amid global tensions

German President Frank-Walter Steinmeier said on Tuesday that trust between the United States and its Western allies has been “lost,” warning that the damage could persist beyond the presidency of Donald Trump.

“The rupture is very deep, and the loss of trust in U.S. great power policy is significant—not only among its allies, but also, as I observe, globally,” Steinmeier said during a speech in Berlin marking the 75th anniversary of Germany’s Foreign Ministry.

Referring to the future of transatlantic relations, he stated that “there is no return to the situation before January 20, 2025,” the date marking the start of Trump’s second term in the White House.

“Even a future U.S. administration will no longer be able to resume the role of a benevolent hegemon guaranteeing a liberal international order,” added Steinmeier, who previously served as Germany’s foreign minister.

He also criticized the war against Iran, describing it as “contrary to international law” and calling it “a political mistake with serious consequences.”

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“This war is avoidable and unnecessary,” he said.

Although the German presidency is largely ceremonial, Steinmeier’s remarks reflect a broader concern within Germany, aligning with the government’s cautious stance while going further in tone.