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
US announces $1 billion security assistance package for Colombia under new government
The U.S. Department of State announced Friday that Washington plans to provide Colombia with $1 billion as part of a security assistance package aimed at supporting the new government of far-right President Abelardo de la Espriella.
The administration of U.S. President Donald Trump said it intends to coordinate with Congress to announce the assistance package, which was unveiled on the occasion of De la Espriella’s inauguration. The United States attended the ceremony with a delegation led by acting Attorney General Todd Blanche.
The package is designed to strengthen Colombian security forces in their fight against terrorist organizations and transnational criminal groups through U.S. technology, increased operational capabilities and coordinated operations with American forces.
The assistance would also significantly expand coca crop eradication and cocaine interdiction operations, while strengthening efforts to track and disrupt the finances of criminal organizations.
Washington also offered to support Bogotá’s efforts to restore state control over territories dominated by armed groups, protect children from forced recruitment and curb irregular migration through greater coordination along the border.
The State Department described the measures as part of a new chapter in bilateral relations between the United States and Colombia. The broader framework also includes cooperation in areas such as energy, critical minerals, infrastructure, technology and civilian nuclear energy.
Relations between Washington and Bogotá had been strained during the administration of former President Gustavo Petro, particularly over migration and security policies.
De la Espriella’s arrival in office, accompanied by promises of a hard-line approach to armed groups and drug trafficking, is expected to mark a new stage in relations between Colombia and the United States.
International
Abelardo de la Espriella sworn in as Colombia’s president for 2026-2030
Lawyer Abelardo de la Espriella was sworn in Friday as Colombia’s president for the 2026-2030 term during an inauguration ceremony held at the USC Arena of the Santiago de Cali University in Valle del Cauca.
“I swear to God and promise the Colombian people to faithfully uphold the Constitution and the laws of Colombia,” De la Espriella, 48, said as he took the oath before Senate President Honorio Henríquez, who subsequently placed the presidential sash on him, formally marking the transfer of power from former President Gustavo Petro.
At the same time, members of the Colombian Army performed the traditional 21-gun salute from the José María Córdova Military Cadet School in Bogotá. After receiving the presidential sash, De la Espriella was applauded by those attending the ceremony and greeted by his family.
The new president later swore in Vice President José Manuel Restrepo. The ceremony also included the participation of 74-year-old farmer Luis Felipe Yagüé, whom De la Espriella invited as an honorary guest as a symbol of his support for small business owners and entrepreneurs.
De la Espriella arrived at the venue with his wife, Ana Lucía Pineda, and their four minor children. More than 1,000 national and international guests attended the ceremony, which began more than an hour later than scheduled.
Among the international figures present were King Felipe VI of Spain and presidents Javier Milei of Argentina, Daniel Noboa of Ecuador, Santiago Peña of Paraguay, José Raúl Mulino of Panama, Luis Abinader of the Dominican Republic, José Antonio Kast of Chile and Nasry Asfura of Honduras. FIFA President Gianni Infantino also attended.
Former Colombian presidents César Gaviria, Andrés Pastrana, Álvaro Uribe and Iván Duque were also present. Former President Ernesto Samper and Nobel Peace Prize laureate Juan Manuel Santos, however, were not invited to the ceremony.
After the inauguration ceremony concluded, De la Espriella traveled to the Pichincha Military Canton in Cali, where he was scheduled to deliver his first address as head of state to Colombia’s senior military commanders.
International
Appeals Court blocks Trump’s White House ballroom project without congressional approval
A U.S. appeals court ruled Friday that President Donald Trump must obtain approval from Congress before moving forward with his plan to build a large ballroom on the White House grounds, at the site where the East Wing of the presidential residence previously stood.
The decision was issued in a 2-1 ruling, with the judges determining that a project of such magnitude falls under Congress’ authority and cannot be carried out solely through executive action.
In its ruling, the court sided with the National Trust for Historic Preservation, the organization that filed the lawsuit seeking to halt the construction. The judges found that the plaintiffs had convincingly demonstrated that Congress had never granted the executive branch the authority to “redesign or rebuild the White House, the People’s House, to satisfy the wishes of any particular president.”
Following the decision, Trump announced that he would appeal the ruling to the U.S. Supreme Court, calling the decision incorrect.
“We will immediately appeal it to the Supreme Court,” the president wrote in a message posted on his social media platforms.
Trump also argued that the ruling could pose a security risk to the presidential complex, claiming that it threatens the safety of White House employees, future workers, visitors, heads of state, and other dignitaries.
The president has repeatedly said that the project would not require taxpayer funding and that its financing would come from private donations by business leaders close to his administration, including Amazon founder Jeff Bezos.
However, a previous estimate published by The Washington Post placed the project’s cost at approximately $600 million and suggested that nearly half of the funding could come from public resources, contradicting Trump’s claims.
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