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.
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.
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.
International
Ecuador’s Noboa vows to continue “war” on criminal groups
Ecuador’s President Daniel Noboa said on Sunday that his government will continue the “war” against criminal organizations and warned that he will not yield to criminal gangs operating in the South American country.
During his state-of-the-nation address before the National Assembly, Noboa stated that criminal structures “will tire first” before his administration abandons its fight against violence and drug trafficking.
The president reaffirmed his hardline security strategy amid ongoing concerns over organized crime and drug-related violence in Ecuador.
International
Iran says agreement with U.S. to end Middle East conflict is in final stages
Iran’s Foreign Ministry spokesperson, Esmail Baqai, said Saturday that Tehran and the United States were in the “finalization phase” of a memorandum of understanding aimed at ending the conflict in the Middle East.
Speaking to Iranian state television Irib, Baqai explained that Iran had initially sought to draft a memorandum consisting of 14 clauses as part of the negotiations.
“We are currently in the phase of finalizing these memorandums of understanding,” he stated.
Shortly before Baqai’s remarks became public, U.S. Secretary of State Marco Rubio said there was “a possibility” that Iran could agree to a deal to end the conflict as early as Saturday.
“There is a possibility that later today, tomorrow, or within the next couple of days, we may have something to announce,” Rubio told reporters in New Delhi, adding that he hoped for “good news.”
Despite acknowledging progress in the negotiations, the top U.S. diplomat warned that President Donald Trump could still decide to resume military strikes against Iran if talks fail to produce a final agreement.
International
WHO Warns Ebola Outbreak Is Spreading Rapidly in DR Congo
The World Health Organization on Friday raised the risk level of the Ebola outbreak in the Democratic Republic of the Congo from “high” to “very high,” the highest alert category used by the organization.
WHO Director-General Tedros Adhanom Ghebreyesus said the outbreak is spreading rapidly across the country, particularly in the eastern provinces of North Kivu and South Kivu.
“The Ebola outbreak in the Democratic Republic of the Congo is spreading rapidly,” Tedros stated during a press conference.
He explained that the WHO had previously classified the risk as high at both the national and regional levels, while maintaining a low risk assessment globally.
“We are now revising our risk assessment to classify it as very high at the national level, high at the regional level, and low at the global level,” he added.
A WHO spokesperson told AFP that “very high” represents the organization’s highest risk category.
The outbreak has expanded across North Kivu and South Kivu, regions divided by the frontline between Congolese government forces and the armed group M23, which is reportedly backed by Rwanda and has seized large areas of territory since 2021.
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