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

U.S. allows Venezuela to fund Maduro and Cilia Flores’ legal defense

Until now, the U.S. administration had blocked the Venezuelan government from covering the legal fees of Nicolás Maduro and his wife, Cilia Flores, who is also jailed and facing drug trafficking charges, due to international sanctions imposed on Venezuela.

The couple’s legal team had relied on that argument in an attempt to have the indictment dismissed, claiming that preventing a defendant from accessing counsel of their choice violates rights guaranteed under the Sixth Amendment of the U.S. Constitution.

However, the U.S. Treasury Department will now allow “defense attorneys to receive payments from the Government of Venezuela under certain conditions,” New York prosecutor Jay Clayton wrote in a letter dated Friday to Judge Alvin Hellerstein, who is overseeing the case.

According to the letter, the funds must have become available after March 5, 2026, and cannot come from Venezuelan oil sales regulated in the United States.

Since Maduro’s removal from power in early January, former Vice President Delcy Rodríguez has served as Venezuela’s interim leader.

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The United States effectively controls Venezuelan crude exports, with revenues deposited into special accounts supervised by Washington.

Court documents filed on Friday show that the defense acknowledged the sanctions exemption and, for now, withdrew its motion seeking dismissal of the charges.

International

U.S. Sanctions Network Linked to Fentanyl Trafficking Across India, Guatemala and Mexico

The United States Department of State announced sanctions on Thursday against 23 individuals and companies allegedly linked to an international fentanyl production and smuggling network operating in India, Guatemala and Mexico.

According to the State Department, the network supplied precursor chemicals to the Sinaloa Cartel, which the United States has designated as a Foreign Terrorist Organization.

Washington declared fentanyl, a powerful synthetic opioid, a weapon of mass destruction last year due to its role in the ongoing overdose crisis in the United States.

“By targeting the entire supply chain — from chemical suppliers in Asia to logistical intermediaries in Central America and cartel-linked networks in Mexico — the Trump Administration is dismantling networks that destabilize governance across our hemisphere and threaten U.S. security,” the State Department said.

In a separate statement, the Office of Foreign Assets Control detailed sanctions against three Indian chemical and pharmaceutical companies: Sutaria, Agrat and SR Chemicals, along with a sales executive accused of supplying precursor chemicals to contacts in Guatemala and Mexico.

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In Guatemala, authorities sanctioned J and C Import and Central Logística de Servicios, as well as intermediary Jaime Augusto Barrientos.

The OFAC also designated several intermediaries and import companies operating in the Mexican state of Sinaloa.

As part of the investigation, U.S. authorities identified Ramiro Baltazar Félix as a member of Los Mayos, a faction of the Sinaloa Cartel, and Alejandro Reynoso, accused of operating clandestine drug laboratories in Guadalajara.

International

Pope Leo XIV Says Countries Have Border Rights but Migrants Deserve Respect

Pope Leo XIV said Thursday that migrants must be treated with dignity as he addressed the global migration crisis during a press conference aboard the plane returning from his tour of Africa.

The pontiff answered questions from journalists regarding his upcoming trip to Spain, which will include a visit to the Canary Islands, a region heavily affected by migration flows and growing political polarization surrounding the issue.

“Obviously, migration is a very complex issue and affects many countries — not only Spain, not only Europe, but also the United States. It is a global phenomenon,” the pope said.

Pope Leo XIV also questioned the role of developed nations in addressing the crisis.

“My response begins with a question: What is the Global North doing to help the Global South and those countries where young people no longer see a future and dream of going north, even when the North sometimes has no answers to offer?” he asked.

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While acknowledging that “a state has the right to establish rules for its borders,” the pope insisted that the debate must go beyond border control and address the structural causes that force people to leave their home countries.