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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

India Approves New Dengue Vaccine as Global Cases Continue to Rise

India has approved a new dengue vaccine as health authorities seek to strengthen prevention efforts against a mosquito-borne viral disease that affects millions of people worldwide every year.

According to the World Health Organization (WHO), half of the global population is currently at risk of contracting dengue, which causes between 100 million and 400 million infections annually.

Since 2021, India has recorded more than one million dengue cases, including at least 1,500 deaths.

The virus can cause high fever, severe headaches, muscle pain, nausea, skin rashes and, in rare cases, internal bleeding and death.

The vaccine, authorized by India’s Central Drugs Standard Control Organization (CDSCO), was developed by Japanese pharmaceutical company Takeda. The Indian Health Ministry said the vaccine is recommended in two doses for people between 4 and 60 years old.

The treatment has already been approved by health authorities in around 40 countries worldwide.

Meanwhile, Indian pharmaceutical company Panacea Biotec has begun the final phase of clinical trials for a single-dose dengue vaccine, aiming to provide another prevention option against the disease.

Brazil recently announced the suspension of the use of another single-dose dengue vaccine developed in the country after two suspected deaths were reported.

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International

U.S. Sends First Humanitarian Aid Flight to Cuba Amid Ongoing Tensions Between Both Governments

The United States announced Tuesday the dispatch of a humanitarian aid flight to Cuba as part of a $100 million assistance package proposed by Secretary of State Marco Rubio in May.

The flight departed from Miami with the support of Catholic Relief Services, according to a statement from the U.S. State Department.

The administration of President Donald Trump, which has maintained restrictions on oil supplies to the island and tightened sanctions against the Cuban government, had initially announced humanitarian assistance in November following the devastating impact of Hurricane Melissa.

In February, amid rising tensions between Washington and Havana, Rubio announced an increase in aid while continuing to criticize the Cuban government.

The U.S. secretary of state accused Cuba’s communist authorities of obstructing the distribution of assistance. Washington has insisted that the aid be delivered through the Catholic Church to ensure it reaches Cuban citizens directly.

The Cuban government, meanwhile, has blamed the U.S. oil blockade for making the distribution of humanitarian assistance significantly more difficult.

The aid shipment comes as relations between the two countries remain strained, with disagreements continuing over sanctions, energy supplies and the management of humanitarian support.

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International

Controversial Pesticide Law Passes in France, Sparking Ecological Concerns and Ministerial Fallout

The French Parliament on Tuesday approved a highly controversial agricultural law that allows certain farmers to use two pesticides considered harmful to bees, substances that had been banned in France but remain authorized in the European Union.

After the National Assembly, the lower house of Parliament, approved the agricultural bill in the early hours of Tuesday, the Senate gave its final approval with a vote of 214 in favor and 111 against, officially adopting the measure.

Following the decision to reintroduce the use of acetamiprid and flupyradifurone, the office of Environment Minister Monique Barbut announced that she would soon submit her resignation.

Supporters of the measure argue that French producers of sugar beets, apples and hazelnuts need access to these insecticides — banned in France since 2018 and 2019, respectively — to remain competitive with European farmers in other countries where the products are still allowed.

Opponents, including environmental groups, argue that the substances pose serious risks to bees and could also threaten human health.

“Let us be proud of the work that has been done,” said Senator Laurent Duplomb of the conservative Republicans party, one of the main supporters of the measure.

The vote came after France’s Constitutional Council, the country’s highest court, struck down a previous attempt last year to bring back acetamiprid, ruling that the measure could pose risks to human health. That decision followed a petition signed by more than two million people opposing the pesticide’s reintroduction.

The previous bill had also been promoted by Duplomb, who argued that French agriculture needed additional tools to compete in international markets.

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