International
Brazil’s Petrobras raises fuel prices
AFP
Brazil’s state-owned oil company Petrobras announced Friday it is raising fuel prices, infuriating President Jair Bolsonaro as he faces an inflationary spike and a re-election bid in October.
Painful price increases, especially for food and fuel, have emerged as a key weak spot for the far-right incumbent.
Petrobras, the largest company in Latin America, said it will hike gasoline prices by 5.18 percent and diesel prices by 14.26 percent starting Saturday.
It blamed “a challenging scenario in Brazil and the world,” the latter a reference to the war in Ukraine, which has triggered higher oil prices around the world.
Brazil has already seen fuel prices surge by over 33 percent in the past year, according to official figures — with the last spike in gasoline and diesel rates coming three months ago.
Bolsonaro reacted angrily saying Petrobras “could sink Brazil in chaos.”
In May, Bolsonaro dismissed the president of Petrobras, who had been in the job for just 40 days, with the country’s energy ministry saying “Brazil is currently experiencing a challenging moment.”
As in many countries of the world, prices are soaring in Brazil. Inflation stands at 11.73 percent, far above the central bank’s target of 3.5 percent.
The bank raised its benchmark interest rate for the 11th straight time on Wednesday as it battles inflation.
Bolsonaro faces an uphill battle against leftist ex-president Luiz Inacio Lula da Silva (2003-2010), who leads in opinion polls and is remembered for presiding over a booming economy.
That is a sharp contrast to today, with Brazil’s economy struggling to bounce back from the pandemic and now reeling from the inflationary pressures unleashed by Russia’s invasion of Ukraine
International
German president says trust in U.S. leadership is ‘lost’ amid global tensions
German President Frank-Walter Steinmeier said on Tuesday that trust between the United States and its Western allies has been “lost,” warning that the damage could persist beyond the presidency of Donald Trump.
“The rupture is very deep, and the loss of trust in U.S. great power policy is significant—not only among its allies, but also, as I observe, globally,” Steinmeier said during a speech in Berlin marking the 75th anniversary of Germany’s Foreign Ministry.
Referring to the future of transatlantic relations, he stated that “there is no return to the situation before January 20, 2025,” the date marking the start of Trump’s second term in the White House.
“Even a future U.S. administration will no longer be able to resume the role of a benevolent hegemon guaranteeing a liberal international order,” added Steinmeier, who previously served as Germany’s foreign minister.
He also criticized the war against Iran, describing it as “contrary to international law” and calling it “a political mistake with serious consequences.”
“This war is avoidable and unnecessary,” he said.
Although the German presidency is largely ceremonial, Steinmeier’s remarks reflect a broader concern within Germany, aligning with the government’s cautious stance while going further in tone.
International
Trump claims talks with Iran as G7 meets to address global tensions
U.S. President Donald Trump said that the United States has held talks with Iran—a claim denied by Tehran—and has temporarily paused his threat to target the country’s electrical infrastructure.
In his first overseas trip since the United States and Israel launched their offensive on February 28, U.S. Secretary of State Marco Rubio is expected to address key global issues, including the situation in the Middle East, according to State Department spokesperson Tommy Pigott.
Foreign ministers from the Group of Seven will meet in Cernay-la-Ville, close to Versailles, on the outskirts of Paris.
During the meeting, Rubio will hold discussions with his counterparts on “the war between Russia and Ukraine, the situation in the Middle East, and threats to global peace and stability,” Pigott said.
France currently holds the presidency of the G7, whose members also include the United Kingdom, Canada, Germany, Italy, and Japan.
Although all G7 nations are close allies of the United States, none has offered explicit support for Washington’s military actions against Iran, a stance that has reportedly frustrated Trump.
Last Saturday, G7 foreign ministers called for an “immediate and unconditional end” to Iranian attacks against U.S. allies in the Middle East.
International
Pentagon to deploy 3,000 troops to Persian Gulf as Middle East tensions escalate
The Pentagon is planning to deploy nearly 3,000 troops from the 82nd Airborne Division to the Persian Gulf, according to two senior officials cited Tuesday by Spanish newspaper El País.
Meanwhile, Hezbollah warned it would confront any attempt at occupation following Israel’s announcement that its military will take control of southern Lebanon up to the Litani River, located about 30 kilometers from the border.
In recent hours, the Israel Defense Forces carried out airstrikes on Beirut, while Iran and Hezbollah responded with attacks on Israel, leaving at least six people with minor injuries in Tel Aviv.
The escalation comes as global markets react to renewed instability. The price of oil rose again above $100 per barrel after a brief decline the previous day, following an announcement by U.S. President Donald Trump of a five-day truce on attacks targeting Iran’s energy infrastructure.
Despite the announcement, Iranian authorities reported that two projectiles struck a gas pipeline in Khorramshahr and administrative buildings at a gas facility in Isfahan early Tuesday.
German president says trust in U.S. leadership is ‘lost’ amid global tensions
Trump claims talks with Iran as G7 meets to address global tensions
Pentagon to deploy 3,000 troops to Persian Gulf as Middle East tensions escalate
Tec de Monterrey honors one of its students for his contribution to nanotechnology in medicine
Defense Minister commends salvadoran soldier for Central American Cross Country victory
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