LATIN AMERICA

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Accusing Venezuelan President Nicolás Maduro of being "one of the largest narco-traffickers in the world," the US has doubled the reward for information leading to his arrest to $50 million. Attorney General Pam Bondi said the US would double its already announced reward of $25 million, adding that Maduro was directly linked to drug smuggling operations.

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Brazilian President Luiz Inácio Lula da Silva has stated his readiness to retaliate with matching tariffs if the United States imposes new levies on Brazilian goods. Lula's response came after President Donald Trump threatened on Wednesday to implement a 50% import tax on Brazilian goods starting August 1st.

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Brazil's former president Jair Bolsonaro was placed under house arrest Monday over an alleged coup plot. The order by Supreme Court Justice Alexandre de Moraes has strained ties with the US, where Donald Trump has defended Bolsonaro and responded with tariffs.

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US President Donald Trump has weighed in on the legal troubles of Brazil's former President Jair Bolsonaro, urging Brazilian authorities to end what he called a "WITCH HUNT." Bolsonaro, who served as president from 2019 to 2022, is currently on trial for allegedly attempting a coup against current President Luiz Inácio Lula da Silva, a charge he denies.

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BP has announced its largest oil and gas find in a quarter-century, revealing a significant discovery in Brazil's Santos Basin that may reshape its upstream ambitions and long-term output strategy.

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A New York federal judge has ruled against Argentina, ordering the country to sell its 51% stake in oil firm YPF in a decision that adds to the challenges facing President Javier Milei's efforts to stabilize the country's ailing economy. Milei, who has made economic recovery a central plank of his administration, quickly announced plans to appeal the ruling, which comes after a decade of international legal wrangling.