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President Lula presents fuel tax cut bill to Brazilian Congress amid rising oil prices.
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Government sends Congress bill to cut taxes on fuels

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President Lula's government presented a bill to Congress on April 23, 2026, allowing PIS/Cofins cuts on gasoline, ethanol, diesel, and biodiesel using extraordinary oil revenues. The measure addresses a 61% rise in gasoline import costs driven by the war in Iran, per ANP data. Officials state the cuts will be partial and temporary, possibly for two months.

Governments in Asia, the top oil-importing region, are seeking alternatives to shield economies from the energy crisis triggered by the Iran war. The Asian Development Bank cut its growth forecast for developing Asia to 4.7% this year. Oil imports to the region plunged 30% in April.

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Apa yang bermula sebagai eskalasi ketegangan di Selat Hormuz pada pertengahan Maret 2026 telah berkembang menjadi perang skala penuh antara Amerika Serikat, Israel, dan Iran, dengan selat tersebut diblokade sejak awal Maret. Jalur tersier vital bagi 20% pengiriman minyak dan gas alam global ini telah memicu krisis energi paling parah dalam sejarah modern, menyebabkan kelangkaan bahan bakar kritis di 25 negara.

Partai Republik yang menguasai Kongres tengah bersiap menghadapi perdebatan sengit mengenai cara membiayai kampanye militer AS terhadap Iran, seiring perkiraan independen yang menempatkan biaya konflik sejauh ini mendekati $30 miliar dan peringatan dari para anggota parlemen bahwa batas waktu 60 hari berdasarkan Resolusi Kekuatan Perang 1973 semakin dekat.

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Germany's DAX index fell 1.1 percent on Thursday, closing at 23,807 points. Investors are wary of the fragile two-week ceasefire in the Iran war and Israeli airstrikes in Lebanon. US Federal Reserve minutes are also weighing on sentiment.

Brazil's ANP released on Thursday (2) a list of five companies that joined the first phase of the diesel subsidy program, excluding major distributors Vibra, Ipiranga, and Raízen. President Luiz Inácio Lula da Silva's government is discussing technical adjustments to attract them, as they handle half of private imports. The program aims to cushion the war in Iran's effects on fuel prices.

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Amid the war against Iran launched on February 28, countries including France, Spain, Austria, Switzerland and Italy are restricting access to their territory for US military aircraft. Donald Trump voiced anger at these Nato allies on Truth Social. Emmanuel Macron confirmed France's non-participation stance.

 

 

 

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