Brazil May Target US Dividends, Tech Firms Amid Trump Standoff
President Luiz Inacio Lula da Silva's government is intensifying its deliberations on possible measures after the US government announced it was revoking visas for some Brazilian Supreme Court justices. The move came after Justice Alexandre de Moraes sent police to raid the home of ex-President Jair Bolsonaro ahead of his trial on charges he attempted a coup to remain in power.
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Forbes
2 hours ago
- Forbes
EU Imposes Sweeping Sanctions On Russia's Energy And Defense Sectors
BRUSSELS, BELGIUM - JUNE 10: EU Commission vice-president, High Representative for Foreign Affairs ... More and Security Policy Kaja Kallas (L) and the President of the European Commission Ursula von der Leyen (R) talk to the media in the Berlaymont, the EU Commission headquarter on June 10, 2025 in Brussels, Belgium. Today, the European Commission has proposed an 18th package of sanctions against Russia for its invasion of Ukraine. (Photo by) The European Union announced a new sanctions package last week to put pressure on the Russian Federation for its war in Ukraine. The EU hopes that these sanctions will reduce Russia's energy revenue. The penalties will also pressure companies and vessels transporting Russian crude. Additionally, the sanctions target refined oil products and lower the oil price cap for crude oil. Finally, there are penalties on Russian companies and banks, as well as Russia's military-industrial complex. 'We are striking at the heart of Russia's war machine,' stated European Commission President Ursula von der Leyen on her X account. 'The pressure is on. It will stay on until [Russia] ends this war [in Ukraine].' The new sanctions package was announced shortly after a European gathering in June, where the EU shared that it would seek to ban all Russian oil and gas imports by 2027. EU officials then moved forward with the proposal by implementing the new sanctions package in July. Several European officials welcomed the move. For example, EU High Representative for Foreign Affairs and Security Policy Kaja Kallas stated that the 'EU will keep raising the pressure until Russia ends its war.' She added that this was one of the 'strongest sanctions packages against Russia to date.' Meanwhile, German Chancellor Friedrich Merz stated that the EU is 'keeping up the pressure on Russia.' He added that the new package 'weakens Russia's ability to continue financing the war against Ukraine.' Similarly, French President Emmanuel Macron welcomed the EU's new sanctions on Russia. Having implemented this new package, the EU is hopeful that the United States will announce similar penalties. The U.S. Senate is weighing a new sanctions bill, but policymakers have yet to vote on the proposed legislation. As EU officials work to persuade their American counterparts, the Russian Federation quickly condemned the move. Russian spokesman Dmitry Peskov claimed that the EU's new sanctions package was 'illegal' and 'anti-Russian.' It remains to be seen how the Russian Federation will respond to the penalties imposed by the EU. When the Russian Federation launched its full-scale invasion of Ukraine in February 2022, numerous countries around the world came together to punish Russia for its behavior. Several Russian banks were removed from the international financial messaging system, known as SWIFT. Russia was expelled from the Council of Europe and suspended from the United Nations Human Rights Council. Several countries announced that they would stop purchasing Russian oil and gas. Additionally, over 1,000 companies withdrew or suspended their business operations in Russia. Finally, hundreds of Russian politicians and oligarchs had their assets frozen or seized. Despite these stiff penalties, Russia has continued its invasion of Ukraine. As a result, the international community has explored other avenues for punishing Russia for its war. One realm has been through Russia's energy sector. When the full-scale war began, the EU considered imposing an embargo on Russian crude and petroleum products. The Europeans also discussed potential restrictions on Russian oil. Eventually, the EU announced that it would 'plan to wean itself off Russian gas.' On the surface, the EU has moved toward its goal of halting future energy purchases from Russia. A report by the European Commission states that EU imports of Russian gas 'dropped from over 40% in 2021 to about 11% in 2024.' Additionally, the EU lowered price caps for crude oil and placed sanctions on vessels transporting Russian oil. The EU has also diversified its energy market to reduce its dependence on Russian energy. But the EU's energy situation with Russia is more complex. A Euronews report in 2023 found that the EU's purchases of Russian liquefied natural gas (LNG) increased by 40% after Russia's full-scale invasion began. In addition, a 2025 report by High North News found that the EU paid nearly 300% more for Russian LNG in 2024 than it had before the start of the full-scale invasion of Ukraine. In other words, while the EU has introduced several sanctions packages targeting Russian banking, energy, and military-industrial sectors, the Russian Federation has continued its war in Ukraine. This is partly due to revenue earned from the Russian energy sector. According to a July report by Al Jazeera, 'oil is Russia's main source of income.' Throughout the war, Russia has continued to generate billions of dollars in revenue by exporting oil around the world. The revenue earned from these energy transactions has helped stimulate the Russian economy, despite sanctions. The Al Jazeera report adds that energy sales help Russia 'pour money into the [Russian] armed forces,' and this allows Russia to continue its full-scale invasion of Ukraine. Current international penalties have failed to deter the Russian Federation from continuing its war in Ukraine. But the EU is hopeful that its new strategy will make a difference. It remains to be seen whether the new sanctions package will be sufficient to force an end to Russia's war.
News24
4 hours ago
- News24
Jair Bolsonaro rejects Brazil judge's jail threat: ‘What matters to me is God's law'
Brazilian judge Justice Alexandre de Moraes threatened to imprison former president Jair Bolsonaro. He argued a speech by Bolsonaro posted online violated his social media ban. The Trump administration imposed visa restrictions on Moraes over his conduct in the case. A Brazilian Supreme Court judge has threatened former president Jair Bolsonaro with imprisonment, arguing that the sharing of a speech of his by online users was a 'violation' of a social media ban, according to a document accessed by AFP on Monday. The far-right former president, who is accused of attempting a 'coup' against his successor Luiz Inacio Lula da Silva, made a speech on Monday that quickly went viral on social media. Bolsonaro did not post the speech from his own account, although his sons and political allies did so. Supreme Court Justice Alexandre de Moraes - with whom Bolsonaro has clashed often - displayed posts from accounts on X, Instagram, and Facebook with videos, images, and text from Bolsonaro's speech to journalists in Congress. According to Moraes, the 70-year-old former president 'delivered a speech to be shown on digital platforms'. READ | US to probe Brazil over 'unfair trading practices', Trump demands end to Jair Bolsonaro trial Bolsonaro is required to wear an electronic ankle bracelet in connection with the case, and to comply with other measures, including a ban from posting on social media. Moraes called on the former leader's lawyers to provide clarification within 24 hours 'on the breach of the precautionary measures imposed, under penalty of immediate imprisonment'. In an earlier decision on Monday, Moraes had warned that any dissemination of Bolsonaro's public speeches on social media platforms would constitute a violation of the measures. Bolsonaro, however, denounced the move as an act of 'cowardice'. He appeared before the cameras to show, for the first time, the electronic ankle monitor he wears on his left foot. This is a symbol of the utmost humiliation. Jair Bolsonaro 'What matters to me is God's law,' he added, rejecting the court's rulings. US President Donald Trump, who counts Bolsonaro among his allies, has waded into the controversy, accusing the Brazilian authorities of conducting a 'witch hunt'. His administration has imposed visa restrictions on Moraes over his conduct in the case, and announced 50% tariffs on Brazilian imports unless the charges are dropped. Eduardo Bolsonaro, one of the former president's sons, stepped down from his position as a congressman in March and moved to the US, where he is campaigning for the Trump administration to intercede on his father's behalf. Moraes believes Bolsonaro and his son seek to 'subject the functioning of the Supreme Court (of Brazil) to the control of the United States'. Among the restrictions imposed on Bolsonaro is an order not to approach embassies or the governments of other countries. He must also remain at home at night and on weekends, although he denied any plans to flee Brazil.
Yahoo
6 hours ago
- Yahoo
Argentina loosens visa requirement for Chinese citizens
(Reuters) -Argentina said on Monday that Chinese citizens with valid U.S. entry visas would not need Argentine visas to enter the country for tourism or business, a loosening of requirements that comes amid warming ties between Beijing and Buenos Aires. Argentina is a key supplier of products including beef, soy and lithium to the Chinese market and cooperation has deepened between the two countries in recent years. The decision by President Javier Millei was made to boost tourism and "deactivate" mechanisms which have "impeded the free development of Argentina's economy, of which tourism is a strategic area," according to a statement on the Argentine government's website. It comes after China in May extended its visa-free policy to citizens of Argentina as well as those of Brazil, Chile, Peru and Uruguay, putting some of Latin America's largest economies on equal footing with many European and Asian countries. In line with the exemption adopted by China, it is "deemed appropriate to adopt equivalent measures for Chinese nationals holding ordinary passports who enter for tourism and business purposes," the statement said. China is Argentina's second-largest trading partner after Brazil and a key investor in infrastructure, energy and mining projects in the country. China has also extended a multi-billion dollar swap line to Argentina, mollifying billions of dollars in repayments that the Latin American nation needs to pay in the coming months. Argentina is also part of China's Belt and Road Initiative, which it joined in 2022. Solve the daily Crossword
