International

Brazil ‘neutral’ in Russia-Ukraine conflict, Bolsonaro says

AFP

Brazilian President Jair Bolsonaro said Sunday that South America’s biggest country will remain “neutral” over Russia’s invasion of neighboring Ukraine.

The far-right Bolsonaro, who undertook a controversial visit to Moscow on February 16 to meet with President Vladimir Putin just as Russian leaders were finalizing plans for their full-scale invasion, said his Russian counterpart confided some “secret” issues about Ukraine in their lengthy conversation.

Bolsonaro said he told Putin that Brazil will maintain a position of neutrality in the war, and that it remains “in favor of peace.”

“We are not going to take sides,” Bolsonaro told reporters. “We are going to continue our neutrality and help as much as possible in the search for a solution.”

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Brazilians “want peace, but we cannot bring (the war’s) consequences here,” he added, recalling that Brazil is a major purchaser of Russian fertilizers.

Bolsonaro, who has expressed admiration for Putin, has largely avoided criticizing Russia over its aggression, even as Putin’s Ukraine operation has been broadly lambasted by the West.

Last Thursday he upbraided his own vice president, Hamilton Mourao, for saying Brazil did not agree with the invasion of Ukraine.

Bolsonaro on Sunday said Brazil actively worked to help water down a United Nations Security Council resolution that criticized Russia, referring to the change of the word “condemns” to “deplores” in the final version of the measure.

Brazil voted in favor of that resolution, which was vetoed by Russia. But Brazil did not sign a declaration by member countries of the Organization of American States in which they strongly condemned Russia’s invasion.

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Bolsonaro’s trip to Moscow earned a firm rebuke by the White House, which described Brazil as being “on the other side of where the global community stands.

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.