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

Maradona’s daughter accuses medical team of “horrible manipulation” in court

One of the daughters of Diego Maradona testified in court this Tuesday, breaking down in tears as she denounced what she described as “absolute and horrible manipulation” by her father’s medical team, during an emotional hearing in Argentina.

Gianinna Maradona stated that she and her siblings agreed to home hospitalization after doctors presented it as the best option following the neurosurgery Maradona underwent on November 3, 2020.

The football icon died on November 25 of that year, and the ongoing trial seeks to determine whether the conditions of his home care were appropriate.

According to Gianinna, what the family found at the residence where Maradona was recovering did not match what had been promised. She testified that there was no adequate medical equipment, constant monitoring, or even an ambulance available, despite assurances of continuous care.

“The manipulation was absolute and horrible,” she said during the hearing in San Isidro, near Buenos Aires.

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She accused members of the medical team, including neurosurgeon Leopoldo Luque, psychiatrist Agustina Cosachov, and psychologist Carlos Díaz, of misleading the family.

“I trusted these people, and all they did was manipulate us and leave my son without a grandfather,” she added.

Later in her testimony, recalling that six years have passed since her father’s death, she became emotional and said she struggled deeply with grief in the aftermath.

International

Trump extends Iran ceasefire after Pakistan mediation request

The president of the United States, Donald Trump, announced on Tuesday that he will extend the ceasefire with Iran, which was set to expire on Wednesday, following a request from Pakistan.

In a statement shared on Truth Social, Trump said the truce will remain in place until Iran presents a proposal and negotiations are concluded, regardless of the outcome.

“I will extend the ceasefire until their proposal is presented and negotiations are completed, whatever the result,” the U.S. leader stated.

Trump justified the decision by claiming that Iran’s government is “deeply divided” and noting that Pakistani authorities, acting as mediators, requested a pause in military action until Iranian leaders and representatives submit a unified proposal.

International

Venezuelan opposition demands election date and minimum wage increase

A group of opposition members from the Zulia Humana and former political prisoners on Tuesday demanded that authorities set a date for elections in Venezuela and increase the minimum wage, which has been frozen since 2022 and is currently worth just a few cents per month according to the Banco Central de Venezuela.

During a press conference in Maracaibo, Professor Eduardo Labrador stressed the urgency of establishing an electoral timeline. “We demand that a date be set for elections so Venezuelans can have free and transparent voting. It is essential to have that date now,” he said.

Economist Rodrigo Cabezas, who served under the late President Hugo Chávez, also called for an increase in the minimum wage, arguing that it is feasible through economic policy measures, although he did not specify an amount due to limited public data.

Cabezas warned that Venezuela experienced “galloping inflation” between March of last year and March 2026, a stage that precedes hyperinflation—a phenomenon the country has already faced. However, he clarified that Venezuela is not currently in hyperinflation, expressing hope that it will not return.