Good morning! Iran threatens to cut economic ties with Brazil. The government announces its stimulus package for the economy. More information about the hacking of cell phones belonging to figures of Operation Car Wash. And the São Paulo Forum, a left-wing conference that means more to the right than to the left.
Iran threatens to cut imports from Brazil amid shipping impasse
Tehran authorities have threatened to reduce—or even halt entirely—imports from Brazil, as two Iranian vessels have been stuck near Brazilian ports without fuel. The ships carried urea (used to produce fertilizers) and were supposed to return loaded with corn. Petrobras, however, says it can’t refuel the vessels for fearing being hit by U.S. sanctions. Trying to strangle the Iranian economy, the White House has increased sanctions against the Middle-Eastern country, which would also bring penalties for companies that do business with Iran.
Why it matters. In the short-term, the impacts of the stalemate will be limited, as most of the last corn harvest has already been sold. Producers, however, fear that about 30% of the product’s future exports could ultimately be compromised if tensions escalate further, as 6.4m of the 22m tons shipped overseas in 2018 went to...