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.

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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.

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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

Iran rejects negotiations as tensions escalate with United States

Iran has no intention of entering negotiations and will continue to resist, Foreign Minister Abbas Araghchi said Wednesday night, dismissing recent statements by U.S. President Donald Trump about possible talks.

Speaking to state television, Araghchi argued that Washington’s call for negotiations reflects a position of weakness. He added that the Islamic Republic seeks to end the war on its own terms, ensuring that such a conflict does not recur in the future.

Meanwhile, the White House issued a stark warning, stating that Trump would “unleash hell” on Iran if it refuses to accept a deal to end the conflict. Despite Tehran’s rejection, U.S. officials maintained that discussions remain ongoing.

White House spokesperson Karoline Leavitt reinforced the administration’s position, warning that failure to acknowledge what she described as Iran’s military defeat would result in even stronger action from Washington.

The increasingly aggressive rhetoric from both sides has diminished hopes for a near-term de-escalation in the conflict, which began following U.S. and Israeli strikes against Iran on February 28.

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As tensions continue to rise, the prospect of a diplomatic resolution remains uncertain amid conflicting narratives and escalating threats from both governments.

International

Maduro appears again in New York court amid drug trafficking charges

Ousted Venezuelan president Nicolás Maduro appeared in a New York federal court on Thursday for the second time since his capture on January 3 during a U.S. military operation in Caracas.

Maduro, 63, and his wife, Cilia Flores, 69, have been held in a detention facility in Brooklyn for nearly three months. Their only previous court appearance took place on January 5, when Maduro declared himself a “prisoner of war” and pleaded not guilty to drug trafficking charges.

A large police convoy departed the detention center early in the morning, heading toward the federal courthouse in Manhattan, where the hearing was scheduled. Security around the building was reinforced as both supporters and opponents gathered outside.

Among those present was Venezuelan educator Carlos Egana, who expressed frustration and called for justice, reflecting the polarized reactions surrounding the case. At the same time, left-wing activists displayed banners demanding Maduro’s release and criticizing U.S. foreign policy.

Maduro governed Venezuela from 2013 until his removal from power earlier this year. Following his ouster, Delcy Rodríguez assumed the interim presidency, initiating a shift in relations with the United States.

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The former leader faces multiple charges, including narco-terrorism conspiracy, cocaine importation, and illegal possession of weapons.

During Thursday’s hearing, scheduled for 11:00 a.m. local time, Maduro’s legal team was expected to push for the dismissal of the case, while also addressing disputes over how his legal defense will be financed amid ongoing U.S. sanctions.

His lawyer, Barry Pollack, has argued that restrictions on accessing Venezuelan state funds could affect Maduro’s right to legal representation, adding another layer of complexity to a case with significant political and international implications.

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.”

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“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.