International

Lula defends opening peace negotiations in the war in Ukraine during a summit with Russia

Brazilian President Luiz Inácio Lula da Silva defended “avoiding an escalation and starting peace negotiations” in the war in Ukraine during his participation, by videoconference, in the BRICS summit, which holds its plenary session this Wednesday in the Russian city of Kazan.

Luiz Inácio Lula da Silva also said that “the time has come to move forward” in the creation of an alternative payment system that allows emerging countries not to use the dollar in their exchanges.

“Avoiding an escalation and starting peace negotiations is also crucial in the conflict between Ukraine and Russia,” Lula said in the final words of his speech.

Middle East and Ukraine, at the summit

The Brazilian ruler, who together with his Chinese counterpart, Xi Jinping, promotes a peace initiative that Ukraine has already rejected, made that brief reference to the conflict on European soil after talking about the war that Israel is fighting against the Palestinian armed group Hamas and the Lebanese Hezbula.

“When we face two wars with the potential to become global, it is essential to rescue our ability to work together for common objectives,” stressed the Brazilian leader.

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Lula canceled his trip to Russia on medical recommendation, after suffering a fall on Saturday at his residence, which caused a small cut on the back of his neck that required five stitches.

Xi Jinping asks for de-escalation

Chinese President Xi Jinping called for an early de-escalation in Ukraine and the cessation of hostilities in the Gaza Strip and Lebanon.

“It is necessary to contribute to a prompt de-escalation in Ukraine (…) and achieve a cessation of hostilities and murders in Gaza and Lebanon as soon as possible,” Xi said during his speech at the summit.

Jinping held a meeting in the Russian city of Kazan with Indian Prime Minister Narendra Modi, in which he asked that China and India “resolve their conflicts and differences,” in the first formal meeting that both have in four years.

Xi indicated that both China and India “are ancient civilizations, large developing countries and important members of the Global South,” according to a statement published by the Chinese state network CCTV.

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Iranian president calls for a ceasefire in Palestine and Lebanon

For his part, the President of Iran, Masud Pezeshkian, “demanded” “an immediate and permanent ceasefire in Palestine and Lebanon,” on the first occasion that an Iranian president participates in a plenary session of the BRICS summit.

In addition, the Iranian president called for “the complete withdrawal of the troops of the occupying regime (Israel) from the occupied areas and immediate aid to the population of Gaza and to the displaced in Lebanon.”

Condemns Israeli bombing of Lebanon

The countries of the BRICS group condemned in the final declaration of the Kazan summit the Israeli bombings against the territory of Lebanon and against humanitarian centers in the Gaza Strip.

“We condemn the death of civilians and the enormous damage caused to civilian infrastructure as a result of Israeli attacks on civilian areas in Lebanon,” says the document released at the end of the meeting of the nine members of the BRICS in the Russian city of Kazan, a text that also condemns the Israeli attacks against centers, activities and humanitarian personnel in Gaza.

The BRICS call for an “immediate” end to hostilities in both Gaza and Lebanon.

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“We highlight the need to preserve the sovereignty and territorial integrity of Lebanon and create conditions for a political-diplomatic solution in order to maintain peace and stability in the Middle East,” the text says.

The joint statement warns that “a further escalation of the conflict in the Gaza Strip threatens with increased tensions, extremism and extremely harmful consequences at the regional and global level.”

The BRICS summit

The Kazan summit is the first to be held by the emerging economies group after its expansion from five to nine members last January.

“Now, in a limited format, we propose to consider the most relevant aspects of the global agenda, to exchange views on the issue of cooperation between the BRICS States at the international level, including the resolution of acute regional conflicts,” said Russian President Vladimir Putin, at the opening of the meeting.

Once the meeting is concluded in a small format, the BRICS countries – Brazil, Russia, India, China, South Africa, Iran, Egypt, the United Arab Emirates and Ethiopia – will sit down at a table with representatives of about twenty States invited to the event, including Turkey, Bolivia, Venezuela and Nicaragua.

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At the end of the summit, BRICS leaders will approve a joint statement on a number of global issues, including conflict in Ukraine.

What is the BRICS group

The BRICS group, founded in 2006 and held its first summit in 2009, integrates countries with a third of the world economy and more than 40% of the population.

Analysts point out that with this summit Putin tries to show the world that Russia is not as isolated as the West intends, while paving the way for the forging of a new world majority that challenges the hegemony of the United States.

Putin and Maduro will meet today on the sidelines of the summit

Vladimir Putin will also meet with his Venezuelan counterpart, Nicolás Maduro, who arrived this Tuesday in the Russian city of Kazan to participate in the XVI Summit of the BRICS emerging economy group to which the country intends to join, the Kremlin reported.

The Kremlin’s advisor for International Affairs, Yuri Ushakov, added that Putin and Maduro will talk about “bilateral affairs and cooperation within the framework of the BRICS.”

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International

US panel backs Trump-themed coin amid controversy

The United States Department of the Treasury confirmed to AFP that the Commission of Fine Arts approved the design of a new collectible coin featuring Donald Trump, with members of the commission appointed by the current administration.

According to the proposal, the coin will feature an image of Trump standing with clenched fists over a desk on the obverse, while the reverse will display an eagle, a traditional symbol of the United States.

The sale price of the collectible has not yet been disclosed, although the United States Mint typically offers similar items for more than $1,000.

“There is no more iconic portrait for the front of these coins than that of our president Donald Trump,” U.S. Treasurer Brandon Beach said in a statement sent to AFP. He added that two additional coins — a $1 piece and a one-ounce gold coin — are also under consideration.

However, the Citizens Coinage Advisory Committee (CCAC), another body responsible for reviewing new coin proposals, declined to discuss the Trump design in late February.

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“Only nations governed by kings or dictators place the image of a sitting leader on their currency,” said Donald Scarinciat the time. “No country in the world has minted coins featuring a democratically elected leader during their term in office,” he added.

When contacted by AFP, the Treasury Department did not immediately respond to requests for further comment.

International

Fed’s Waller warns of rising inflation risks amid Middle East conflict

Christopher Waller, a governor at the Federal Reserve, said Friday that he is increasingly concerned about the inflationary impact of the ongoing conflict involving United States and Israel against Iran, particularly due to the prolonged closure of the Strait of Hormuz.

Waller, who had supported interest rate cuts over the past year amid concerns about the labor market, said he has shifted his stance in recent weeks due to rising inflation risks.

“Since the Strait of Hormuz was closed, it suggests this conflict could be much more prolonged and that oil prices will remain elevated for longer,” Waller said in an interview with CNBC.

“Therefore, this indicates that inflation is a greater concern than I had previously assessed,” he added.

Waller also backed the Federal Reserve’s decision earlier this week to keep interest rates unchanged, signaling a more cautious approach as global geopolitical tensions continue to affect economic outlooks.

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International

Brazil offers to mediate Colombia-Ecuador tensions, calls for restraint

The government of Brazil has offered to mediate in the ongoing tensions between Colombia and Ecuador, while calling on both nations to exercise restraint.

In a statement released Wednesday, Brazil’s Ministry of Foreign Affairs urged the parties involved to act with moderation and seek a peaceful resolution to the dispute.

“Brazil encourages all sides to act with moderation in order to find a peaceful solution to the controversy. It stands ready to support dialogue efforts aimed at preserving peace and security in the region,” the statement said.

Brazil also expressed “serious concern” over reports of deaths in the border area between Colombia and Ecuador, noting that the circumstances surrounding the incidents have not yet been clarified.

The diplomatic move comes amid rising tensions between the neighboring countries, increasing regional concern over stability and security along their shared border.