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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.

세계 최대 원유 수입 지역인 아시아 각국은 이란 전쟁으로 촉발된 에너지 위기로부터 자국 경제를 보호하기 위해 대안을 모색하고 있다. 아시아개발은행(ADB)은 올해 개발도상국 아시아 지역의 경제성장률 전망치를 4.7%로 하향 조정했다. 아시아 지역의 4월 원유 수입량은 30% 급감했다.

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What began as escalating tensions in the Strait of Hormuz in mid-March 2026 has evolved into a full-scale war between the United States, Israel, and Iran, with the strait blockaded since early March. This vital chokepoint for 20% of global oil and natural gas shipments has ignited the most severe energy crisis in modern history, causing critical fuel shortages in 25 countries.

Republicans who control Congress are preparing for a contentious debate over how to pay for the U.S. military campaign against Iran, as independent estimates put the conflict’s cost to date near $30 billion and lawmakers warn the 1973 War Powers Resolution’s 60-day clock is approaching.

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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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