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Illustration of Iran's Strait of Hormuz blockade during war, driving up global oil and gas prices and threatening Europe's energy supply.
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War in Iran causes surge in energy prices

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On the fifth day of the war in Iran, Tehran's blockade of the Strait of Hormuz has driven up oil and gas prices, affecting the global economy. European gas prices rose from 32 to 49 euros per MWh, while Brent crude climbed from 72 to 82 dollars per barrel. Europe, vulnerable due to its reliance on imports, faces heightened risks if the conflict drags on.

President Luiz Inácio Lula da Silva criticized the UN Security Council for being 'omissive' in seeking conflict solutions at the COP15 opening in Campo Grande (MS). He also announced expansions of protected areas in the Pantanal. The conference addresses migratory species conservation.

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Cuban Foreign Minister Bruno Rodríguez Parrilla held telephone conversations with his Russian and Chinese counterparts, Sergey Lavrov and Wang Yi. The discussions reaffirmed strong bilateral ties and expressed support for Cuba's sovereignty. The exchanges also covered regional and international issues.

The United Nations' serious financial difficulties, partly due to the United States' failure to make some contribution payments, present a good opportunity for UN reform, Kazuyuki Yamazaki, Japan's ambassador to the UN, said in a recent interview. Japan wants to play a constructive role in creating an efficient and effective United Nations, he added.

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Foreign ministers from G7 countries gathered in Munich, Germany, on February 16 to discuss the situations in Ukraine, the Middle East, and the Indo-Pacific ahead of the fourth anniversary of Russia's invasion of Ukraine. They confirmed the importance of coordinated responses. Japanese Foreign Minister Toshimitsu Motegi outlined Japan's stance on recent Indo-Pacific developments.

Mexico became Cuba's main oil supplier in 2025, overtaking Venezuela after Nicolás Maduro's capture. Pemex sends high-quality light crudes like Istmo and Olmeca, suited to the island's outdated refineries, though this imposes a significant economic cost on the country. President Claudia Sheinbaum has confirmed the shipments will continue as humanitarian aid, despite potential reprisals from Donald Trump.

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Brazilian President Luiz Inácio Lula da Silva will not attend the signing of the historic EU-Mercosur trade agreement, scheduled for Saturday, January 17, in Asunción, Paraguay. Despite Lula being the main promoter of the deal, his absence stems from scheduling conflicts due to late invitations. Other leaders, including Santiago Peña, Yamandú Orsi, and possibly Javier Milei, will participate.

 

 

 

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