IBOV 188,268.59 ▲ 1.42% IPSA 11,238.63 ▼ 1.16% IPC MEX 64,499.43 ▼ 0.49% MERVAL 3,157,852 ▲ 1.53% COLCAP 2,626.71 ▲ 1.65% BVL PERÚ 60,702.89 ▼ 2.19% USD/BRL5.10▼ 0.14% USD/MXN16.98▲ 0.52% USD/CLP940.47▲ 1.38% USD/COP3,097▼ 0.64% USD/PEN3.35▼ 0.05% USD/ARS1,513▼ 0.08% USD/UYU40.24▲ 3.05% USD/PYG5,868▲ 2.26% USD/BOB12.36▲ 1.91% USD/DOP58.60▲ 0.17% USD/CRC447.58▲ 1.69% USD/GTQ7.63▲ 3.04% USD/HNL26.85▲ 0.57% USD/NIO36.62▲ 0.34% USD/VES830.41▲ 0.45% USD/PAB1.00— 0.00% USD/BZD2.00— 0.00% USD/JMD 157.28 — 0.00% USD/TTD6.73▲ 2.40% EUR/BRL5.93▲ 0.35% BRENT 88.88 ▼ 0.03% WTI 83.11 ▼ 0.11% IRON ORE 161.91 — — COPPER 6.61 ▲ 0.03% GOLD 4,461 ▲ 1.78% SILVER 65.59 ▲ 1.26% SOY 1,184 ▲ 3.20% CORN 480.50 ▲ 10.02% WHEAT 655.00 ▲ 3.93% COFFEE 317.25 ▼ 5.51% SUGAR 16.43 ▼ 1.79% ORANGE JUICE 138.55 ▼ 0.47% COTTON 85.03 ▲ 2.33% COCOA 5,719 ▲ 3.18% BEEF 223.60 ▼ 3.93% CATTLE 339.10 ▼ 3.16% LITHIUM 75.20 ▲ 1.47% PETR4 41.64 ▼ 0.05% VALE3 72.97 ▲ 0.83% ITUB4 38.60 ▼ 1.03% BBDC4 16.85 ▲ 0.36% ABEV3 14.89 ▼ 0.80% BBAS3 19.37 ▲ 0.47% B3SA3 14.26 ▼ 0.21% WEGE3 47.59 ▲ 0.49% PRIO3 59.14 ▼ 0.19% SUZB3 41.33 ▲ 2.35% RENT3 34.68 ▼ 0.09% AZZA3 15.89 ▼ 2.63% CSAN3 3.22 ▼ 1.83% RAIZ4 0.25 — 0.00% PCAR3 2.75 ▼ 0.36% GMAT3 3.65 ▼ 1.08% PSSA3 48.13 ▼ 0.54% CVCB3 1.33 ▼ 2.92% POSI3 3.36 ▲ 2.44% SLCE3 13.34 ▲ 0.30% NATU3 8.14 ▼ 0.73% IBOV 188,268.59 ▲ 1.42% IPSA 11,238.63 ▼ 1.16% IPC MEX 64,499.43 ▼ 0.49% MERVAL 3,157,852 ▲ 1.53% COLCAP 2,626.71 ▲ 1.65% BVL PERÚ 60,702.89 ▼ 2.19% USD/BRL 5.16 ▲ 0.01% USD/MXN 17.06 ▼ 0.24% USD/CLP 913.98 ▲ 0.04% USD/COP 3,140 ▲ 0.03% USD/PEN 3.36 ▼ 0.66% USD/ARS 1,493 ▲ 0.10% USD/UYU 40.27 ▲ 1.24% USD/PYG 5,939 ▲ 1.68% USD/BOB 11.64 ▼ 0.76% USD/DOP 58.34 ▲ 1.25% USD/CRC 445.92 ▲ 0.89% USD/GTQ 7.62 ▲ 2.21% USD/HNL 26.79 ▲ 1.57% USD/NIO 36.62 ▲ 0.69% USD/VES 762.44 ▼ 0.13% USD/PAB 1.00 — 0.00% USD/BZD 2.00 — 0.00% USD/JMD 157.28 — 0.00% USD/TTD 6.70 ▲ 0.61% EUR/BRL 5.95 ▲ 1.01% BRENT 88.88 ▼ 0.03% WTI 83.11 ▼ 0.11% IRON ORE 161.91 — — COPPER 6.61 ▲ 0.03% GOLD 4,461 ▲ 1.78% SILVER 65.59 ▲ 1.26% SOY 1,184 ▲ 3.20% CORN 480.50 ▲ 10.02% WHEAT 655.00 ▲ 3.93% COFFEE 317.25 ▼ 5.51% SUGAR 16.43 ▼ 1.79% ORANGE JUICE 138.55 ▼ 0.47% COTTON 85.03 ▲ 2.33% COCOA 5,719 ▲ 3.18% BEEF 223.60 ▼ 3.93% CATTLE 339.10 ▼ 3.16% LITHIUM 75.20 ▲ 1.47% PETR4 41.64 ▼ 0.05% VALE3 72.97 ▲ 0.83% ITUB4 38.60 ▼ 1.03% BBDC4 16.85 ▲ 0.36% ABEV3 14.89 ▼ 0.80% BBAS3 19.37 ▲ 0.47% B3SA3 14.26 ▼ 0.21% WEGE3 47.59 ▲ 0.49% PRIO3 59.14 ▼ 0.19% SUZB3 41.33 ▲ 2.35% RENT3 34.68 ▼ 0.09% AZZA3 15.89 ▼ 2.63% CSAN3 3.22 ▼ 1.83% RAIZ4 0.25 — 0.00% PCAR3 2.75 ▼ 0.36% GMAT3 3.65 ▼ 1.08% PSSA3 48.13 ▼ 0.54% CVCB3 1.33 ▼ 2.92% POSI3 3.36 ▲ 2.44% SLCE3 13.34 ▲ 0.30% NATU3 8.14 ▼ 0.73%
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Brazil to Close Caracas Embassy in Bid to Further Isolate Maduro

By · March 2, 2020 · 3 min read

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RIO DE JANEIRO, BRAZIL – (Bloomberg) Brazil plans to withdraw its diplomatic personnel from Venezuela in the latest attempt to increase the isolation of the government of Nicolas Maduro, a senior official said.

A Brazilian government official, who is directly involved in the process but is not allowed to discuss it publicly, said that Brazilian and pro-Maduro officials will start discussing their respective diplomatic representations as early as next week. Brazil expects to withdraw its officials from Caracas in two months, the person said.

Brazil plans to withdraw its diplomatic personnel from Venezuela in the latest attempt to increase the isolation of the government of Nicolas Maduro, a senior official said.
Brazil plans to withdraw its diplomatic personnel from Venezuela in the latest attempt to increase the isolation of the government of Nicolas Maduro, a senior official said.
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Brazilian President Jair Bolsonaro, a U.S. ally, recognizes opposition leader Juan Guaidó as the legitimate leader of Venezuela and has provided Guaidó’s envoy in Brasilia full ambassadorial status. The U.S. campaign to try to oust Maduro with economic sanctions, diplomatic isolation and backing for Guaido, has so far failed to dislodge the Venezuelan leader, who has remained solidly entrenched and with the apparent support of his military hierarchy.

Guaidó also enjoys the backing of Colombia and dozens of other U.S. allies, but has so far failed to make much headway back home. Last April, Guaidó tried to lead an uprising against Maduro but it collapsed after most of the armed forces declined to join. Despite this, Maduro has refrained from arresting Guaidó, possibly fearing the U.S. reaction.

Diplomatic pressure remains a key element of the strategy to topple Maduro, even though Guaidó’s campaign appears to have lost momentum in recent months, the official said. There are currently around 15 Brazilian foreign ministry employees and attaches in the Caracas embassy.

Brazil will seek to maintain limited presence in Venezuela

Bolsonaro has refrained from expelling diplomats loyal to Maduro who remain in Brazil, mostly on expired accreditations. That has left officials on both sides struggling to abide by diplomatic conventions or handle consular issues.

While the plan is to effectively shut down the embassy, Brazil seeks to maintain a limited presence in Venezuela to assist with nationals’ consular needs and preserve Brazilian assets in the country, including the ambassador’s residence.

The person said Brazil does not plan to expel Maduro officials in Brasilia but expects a reciprocal move from the Venezuelan leader after Brazilian diplomats leave Caracas.

Brazil’s Ministry of Foreign Affairs declined to comment. Venezuela’s Ministry of Foreign Affairs did not immediately reply to an email seeking comment sent outside normal business hours.

Venezuelan diplomats posted abroad have been struggling since 2019, when more than 50 countries stated that Maduro’s re-election was rigged and declared Guaido, the president of the National Assembly, as the nation’s president.
Venezuelan diplomats posted abroad have been struggling since 2019, when more than 50 countries stated that Maduro’s re-election was rigged and declared Guaidó as the nation’s president.

The most awkward diplomatic posting in the world

Venezuelan diplomats posted abroad have been struggling since 2019, when more than 50 countries stated that Maduro’s re-election was rigged and declared Guaidó, the president of the National Assembly, as the nation’s president.

Countries including the U.S. and Colombia shut down their embassies in Caracas, expelled Maduro’s diplomats, and accepted envoys aligned with Guaidó as ambassadors. While also recognizing Guaidó, European countries have continued to host Maduro officials and maintained a diplomatic presence in Venezuela.

In many countries, including Brazil, diplomats loyal to Maduro have struggled to receive their salaries because of US-imposed financial sanctions.

Source: Bloomberg

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