IBOV 169,813 ▲ 0.68% IPSA 10,501 ▲ 3.32% IPC MEX 65,409 ▼ 0.44% MERVAL 3,150,727 ▲ 1.24% COLCAP 2,252.33 ▲ 2.71% BVL PERÚ 34,937.73 ▲ 0.29% USD/BRL 5.17 ▼ 0.45% USD/MXN 17.42 ▼ 0.29% USD/CLP 916.77 ▼ 0.66% USD/COP 3,567 ▼ 1.04% USD/PEN 3.39 ▼ 2.38% USD/ARS 1,441 ▼ 0.38% USD/UYU 40.50 ▲ 1.57% USD/PYG 6,138 ▲ 2.26% USD/BOB 6.86 ▲ 1.79% USD/DOP 58.04 ▲ 0.07% USD/CRC 455.55 ▲ 1.67% USD/GTQ 7.62 ▲ 2.18% USD/HNL 26.64 ▲ 0.04% USD/NIO 36.62 ▲ 0.31% USD/VES 566.26 ▼ 0.13% USD/PAB 1.00 ▲ 2.30% USD/BZD 2.00 ▲ 1.74% USD/JMD 157.29 ▲ 0.72% USD/TTD 6.70 ▲ 0.91% EUR/BRL 5.97 ▲ 0.04% BRENT 91.83 ▼ 2.57% WTI 88.70 ▼ 2.85% IRON ORE 161.91 — — COPPER 6.35 ▲ 0.36% GOLD 4,285 ▼ 1.18% SILVER 65.46 ▼ 4.33% SOY 1,114 ▼ 0.16% CORN 420.00 ▲ 0.30% WHEAT 585.00 ▲ 0.30% COFFEE 245.20 ▼ 0.28% SUGAR 14.14 ▲ 0.14% ORANGE JUICE 170.60 ▲ 6.23% COTTON 76.24 ▲ 3.88% COCOA 3,883 ▲ 1.36% BEEF 239.70 ▼ 2.77% CATTLE 354.15 ▲ 0.98% LITHIUM 78.61 ▲ 1.97% PETR4 41.17 ▼ 0.12% VALE3 78.50 ▲ 0.55% ITUB4 39.22 ▲ 1.82% BBDC4 17.43 ▲ 1.34% ABEV3 16.21 ▲ 0.81% BBAS3 19.11 ▲ 0.05% B3SA3 15.39 ▲ 1.12% WEGE3 43.33 ▼ 1.52% PRIO3 61.80 ▼ 1.18% SUZB3 42.05 ▲ 0.19% RENT3 40.85 ▲ 1.69% AZZA3 17.24 ▲ 0.82% CSAN3 3.40 ▼ 0.87% RAIZ4 0.46 ▲ 4.55% PCAR3 1.59 ▼ 7.56% GMAT3 4.02 ▼ 0.99% PSSA3 48.66 ▲ 1.63% CVCB3 1.42 — 0.00% POSI3 3.45 ▲ 1.47% SLCE3 14.56 ▲ 0.76% NATU3 9.20 ▼ 2.75% BRKM5 9.24 ▲ 3.82% RANI3 7.96 ▲ 1.53% CSNA3 6.07 ▲ 2.88% CMIN3 4.35 ▲ 0.93% USIM5 11.12 ▼ 0.54% GGBR4 23.47 ▼ 0.89% ENEV3 24.70 ▲ 3.13% NEOE3 33.80 — 0.00% CPFE3 43.60 ▲ 2.13% CMIG4 10.81 ▲ 0.46% EQTL3 38.76 ▲ 0.41% LREN3 15.01 ▲ 0.27% VIVT3 32.95 ▼ 1.14% RAIL3 13.49 ▼ 0.22% KLABIN 17.04 ▼ 0.47% RAIA DROGASIL 18.10 ▲ 1.46% RDOR3 33.34 ▲ 1.89% HAPV3 11.38 ▲ 4.50% FLRY3 15.21 ▲ 4.11% SMTO3 17.20 ▼ 0.06% UGPA3 25.28 ▲ 2.43% VBBR3 29.40 ▲ 2.40% BBSE3 36.25 ▲ 1.06% BPAC11 50.85 ▲ 0.69% CURY3 30.20 ▲ 4.17% AERI3 2.30 ▲ 1.32% VIVARA 21.00 ▲ 2.44% COMPASS 25.05 ▲ 2.24% VAMOS 2.89 ▼ 1.03% SANB11 27.17 ▲ 1.46% ASAI3 8.39 ▼ 0.71% SBSP3 27.69 ▲ 1.54% WALMEX 50.58 ▼ 1.50% GMEXICO 201.75 ▼ 0.10% FEMSA 212.55 ▼ 0.35% CEMEX 21.10 ▼ 0.09% GFNORTE 174.27 ▼ 0.58% BIMBO 55.65 ▼ 0.41% TELEVISA 9.76 ▲ 4.95% AMX 22.05 ▲ 1.57% GAP 394.73 ▲ 0.66% ASUR 278.13 ▼ 1.32% OMA 210.44 ▼ 0.36% KOF 181.25 ▼ 0.81% GRUMA 292.14 ▲ 0.53% KIMBER 36.16 ▼ 2.11% SQM-B 69,065 ▲ 3.31% COPEC 6,120 ▲ 2.33% BSANTANDER 72.10 ▲ 5.26% FALABELLA 5,740 ▲ 2.87% ENELAM 75.42 ▲ 0.29% CENCOSUD 2,105 ▼ 0.24% CMPC 1,048 ▲ 1.75% BANCO CHILE 175.90 ▲ 5.33% LATAM AIR 22.61 ▲ 3.67% YPF 81,325 ▼ 0.76% GGAL 7,545 ▲ 2.79% PAMPA 5,030 ▲ 0.20% TXAR 685.00 ▼ 0.44% ALUAR 1,008 ▲ 1.05% TGS 9,035 ▲ 0.28% CEPU 2,252 ▲ 0.99% MIRGOR 16,725 ▼ 0.89% COME 43.89 ▼ 0.57% LOMA NEGRA 3,523 ▲ 5.54% BYMA 285.00 ▲ 0.62% TELECOM ARG 4,285 ▲ 6.00% ECOPETROL 15.89 ▲ 3.49% BANCOLOMBIA 74.90 ▲ 4.32% GRUPO AVAL 5.09 ▲ 4.73% CREDICORP 349.61 ▲ 9.29% SOUTHERN COPPER 175.17 ▲ 2.75% BUENAVENTURA 30.99 ▲ 2.51% MERCADOLIBRE 1,641 ▲ 1.81% NUBANK 11.88 ▲ 2.41% XP 15.64 ▲ 2.49% PAGSEGURO 8.74 ▲ 2.46% STONE 10.66 ▲ 0.85% GLOBANT 37.47 ▼ 1.83% TECNOGLASS 43.59 ▲ 2.95% GAP AIRPORT 226.18 ▲ 0.75% ASUR 278.13 ▼ 1.32% OMA AIRPORT 96.70 ▼ 0.19% AMX ADR 25.28 ▲ 1.67% FEMSA ADR 122.20 ▼ 0.25% CEMEX ADR 12.08 ▲ 0.33% PETROBRAS ADR 17.82 ▲ 0.39% VALE ADR 15.14 ▲ 1.00% ITAU ADR 7.53 ▲ 1.35% SANTANDER BR 5.29 ▲ 1.34% AMBEV ADR 3.12 — 0.00% CSN 1.17 ▲ 1.74% GERDAU 4.56 ▼ 0.22% LATAM ADR 49.27 ▲ 4.79% BTC 61,765 ▼ 2.10% ETH 1,650 ▼ 2.37% SOL 64.95 ▼ 2.76% XRP 1.14 ▼ 2.80% BNB 594.32 ▼ 1.21% ADA 0.17 ▼ 2.60% DOGE 0.08 ▼ 1.72% AVAX 6.63 ▼ 1.89% LINK 7.85 ▼ 1.68% DOT 0.96 ▼ 1.69% LTC 43.26 ▲ 0.46% BCH 203.53 ▼ 2.70% TRX 0.32 ▼ 1.14% XLM 0.19 ▼ 4.68% HBAR 0.08 ▼ 2.00% NEAR 2.19 ▲ 2.84% ATOM 1.77 ▲ 0.62% AAVE 62.37 ▼ 1.54% SELIC 14.50% EMBRAER 72.73 ▼ 0.97% EMBRAER ADR 56.26 ▼ 0.50% JBS 11.85 ▲ 1.98% JBS BDR 61.07 ▲ 1.33% MBRF3 15.48 ▼ 0.32% MBRFY 2.93 ▲ 2.81% INTER 5.67 ▲ 1.80% IBOV 169,813 ▲ 0.68% IPSA 10,501 ▲ 3.32% IPC MEX 65,409 ▼ 0.44% MERVAL 3,150,727 ▲ 1.24% COLCAP 2,252.33 ▲ 2.71% BVL PERÚ 34,937.73 ▲ 0.29% USD/BRL 5.17 ▼ 0.45% USD/MXN 17.42 ▼ 0.29% USD/CLP 916.77 ▼ 0.66% USD/COP 3,567 ▼ 1.04% USD/PEN 3.39 ▼ 2.38% USD/ARS 1,441 ▼ 0.38% USD/UYU 40.50 ▲ 1.57% USD/PYG 6,138 ▲ 2.26% USD/BOB 6.86 ▲ 1.79% USD/DOP 58.04 ▲ 0.07% USD/CRC 455.55 ▲ 1.67% USD/GTQ 7.62 ▲ 2.18% USD/HNL 26.64 ▲ 0.04% USD/NIO 36.62 ▲ 0.31% USD/VES 566.26 ▼ 0.13% USD/PAB 1.00 ▲ 2.30% USD/BZD 2.00 ▲ 1.74% USD/JMD 157.29 ▲ 0.72% USD/TTD 6.70 ▲ 0.91% EUR/BRL 5.97 ▲ 0.04% BRENT 91.83 ▼ 2.57% WTI 88.70 ▼ 2.85% IRON ORE 161.91 — — COPPER 6.35 ▲ 0.36% GOLD 4,285 ▼ 1.18% SILVER 65.46 ▼ 4.33% SOY 1,114 ▼ 0.16% CORN 420.00 ▲ 0.30% WHEAT 585.00 ▲ 0.30% COFFEE 245.20 ▼ 0.28% SUGAR 14.14 ▲ 0.14% ORANGE JUICE 170.60 ▲ 6.23% COTTON 76.24 ▲ 3.88% COCOA 3,883 ▲ 1.36% BEEF 239.70 ▼ 2.77% CATTLE 354.15 ▲ 0.98% LITHIUM 78.61 ▲ 1.97% PETR4 41.17 ▼ 0.12% VALE3 78.50 ▲ 0.55% ITUB4 39.22 ▲ 1.82% BBDC4 17.43 ▲ 1.34% ABEV3 16.21 ▲ 0.81% BBAS3 19.11 ▲ 0.05% B3SA3 15.39 ▲ 1.12% WEGE3 43.33 ▼ 1.52% PRIO3 61.80 ▼ 1.18% SUZB3 42.05 ▲ 0.19% RENT3 40.85 ▲ 1.69% AZZA3 17.24 ▲ 0.82% CSAN3 3.40 ▼ 0.87% RAIZ4 0.46 ▲ 4.55% PCAR3 1.59 ▼ 7.56% GMAT3 4.02 ▼ 0.99% PSSA3 48.66 ▲ 1.63% CVCB3 1.42 — 0.00% POSI3 3.45 ▲ 1.47% SLCE3 14.56 ▲ 0.76% NATU3 9.20 ▼ 2.75% BRKM5 9.24 ▲ 3.82% RANI3 7.96 ▲ 1.53% CSNA3 6.07 ▲ 2.88% CMIN3 4.35 ▲ 0.93% USIM5 11.12 ▼ 0.54% GGBR4 23.47 ▼ 0.89% ENEV3 24.70 ▲ 3.13% NEOE3 33.80 — 0.00% CPFE3 43.60 ▲ 2.13% CMIG4 10.81 ▲ 0.46% EQTL3 38.76 ▲ 0.41% LREN3 15.01 ▲ 0.27% VIVT3 32.95 ▼ 1.14% RAIL3 13.49 ▼ 0.22% KLABIN 17.04 ▼ 0.47% RAIA DROGASIL 18.10 ▲ 1.46% RDOR3 33.34 ▲ 1.89% HAPV3 11.38 ▲ 4.50% FLRY3 15.21 ▲ 4.11% SMTO3 17.20 ▼ 0.06% UGPA3 25.28 ▲ 2.43% VBBR3 29.40 ▲ 2.40% BBSE3 36.25 ▲ 1.06% BPAC11 50.85 ▲ 0.69% CURY3 30.20 ▲ 4.17% AERI3 2.30 ▲ 1.32% VIVARA 21.00 ▲ 2.44% COMPASS 25.05 ▲ 2.24% VAMOS 2.89 ▼ 1.03% SANB11 27.17 ▲ 1.46% ASAI3 8.39 ▼ 0.71% SBSP3 27.69 ▲ 1.54% WALMEX 50.58 ▼ 1.50% GMEXICO 201.75 ▼ 0.10% FEMSA 212.55 ▼ 0.35% CEMEX 21.10 ▼ 0.09% GFNORTE 174.27 ▼ 0.58% BIMBO 55.65 ▼ 0.41% TELEVISA 9.76 ▲ 4.95% AMX 22.05 ▲ 1.57% GAP 394.73 ▲ 0.66% ASUR 278.13 ▼ 1.32% OMA 210.44 ▼ 0.36% KOF 181.25 ▼ 0.81% GRUMA 292.14 ▲ 0.53% KIMBER 36.16 ▼ 2.11% SQM-B 69,065 ▲ 3.31% COPEC 6,120 ▲ 2.33% BSANTANDER 72.10 ▲ 5.26% FALABELLA 5,740 ▲ 2.87% ENELAM 75.42 ▲ 0.29% CENCOSUD 2,105 ▼ 0.24% CMPC 1,048 ▲ 1.75% BANCO CHILE 175.90 ▲ 5.33% LATAM AIR 22.61 ▲ 3.67% YPF 81,325 ▼ 0.76% GGAL 7,545 ▲ 2.79% PAMPA 5,030 ▲ 0.20% TXAR 685.00 ▼ 0.44% ALUAR 1,008 ▲ 1.05% TGS 9,035 ▲ 0.28% CEPU 2,252 ▲ 0.99% MIRGOR 16,725 ▼ 0.89% COME 43.89 ▼ 0.57% LOMA NEGRA 3,523 ▲ 5.54% BYMA 285.00 ▲ 0.62% TELECOM ARG 4,285 ▲ 6.00% ECOPETROL 15.89 ▲ 3.49% BANCOLOMBIA 74.90 ▲ 4.32% GRUPO AVAL 5.09 ▲ 4.73% CREDICORP 349.61 ▲ 9.29% SOUTHERN COPPER 175.17 ▲ 2.75% BUENAVENTURA 30.99 ▲ 2.51% MERCADOLIBRE 1,641 ▲ 1.81% NUBANK 11.88 ▲ 2.41% XP 15.64 ▲ 2.49% PAGSEGURO 8.74 ▲ 2.46% STONE 10.66 ▲ 0.85% GLOBANT 37.47 ▼ 1.83% TECNOGLASS 43.59 ▲ 2.95% GAP AIRPORT 226.18 ▲ 0.75% ASUR 278.13 ▼ 1.32% OMA AIRPORT 96.70 ▼ 0.19% AMX ADR 25.28 ▲ 1.67% FEMSA ADR 122.20 ▼ 0.25% CEMEX ADR 12.08 ▲ 0.33% PETROBRAS ADR 17.82 ▲ 0.39% VALE ADR 15.14 ▲ 1.00% ITAU ADR 7.53 ▲ 1.35% SANTANDER BR 5.29 ▲ 1.34% AMBEV ADR 3.12 — 0.00% CSN 1.17 ▲ 1.74% GERDAU 4.56 ▼ 0.22% LATAM ADR 49.27 ▲ 4.79% BTC 61,765 ▼ 2.10% ETH 1,650 ▼ 2.37% SOL 64.95 ▼ 2.76% XRP 1.14 ▼ 2.80% BNB 594.32 ▼ 1.21% ADA 0.17 ▼ 2.60% DOGE 0.08 ▼ 1.72% AVAX 6.63 ▼ 1.89% LINK 7.85 ▼ 1.68% DOT 0.96 ▼ 1.69% LTC 43.26 ▲ 0.46% BCH 203.53 ▼ 2.70% TRX 0.32 ▼ 1.14% XLM 0.19 ▼ 4.68% HBAR 0.08 ▼ 2.00% NEAR 2.19 ▲ 2.84% ATOM 1.77 ▲ 0.62% AAVE 62.37 ▼ 1.54% SELIC 14.50% EMBRAER 72.73 ▼ 0.97% EMBRAER ADR 56.26 ▼ 0.50% JBS 11.85 ▲ 1.98% JBS BDR 61.07 ▲ 1.33% MBRF3 15.48 ▼ 0.32% MBRFY 2.93 ▲ 2.81% INTER 5.67 ▲ 1.80%
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Tuesday, June 9, 2026

Analysis Brazil

Brazil’s Embrace of Iran Highlights Lula’s Pattern of Cozying Up to Authoritarian Regimes

By · June 27, 2025 · 2 min read

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(Analysis) The Iranian ambassador in Brazil, Abdollah Nekounam, recently took center stage in Brasília to defend Iran’s nuclear program and thank BRICS countries for their support after US and Israeli strikes on Iranian nuclear facilities.

In a joint statement issued by the Brazilian Foreign Ministry, BRICS, with Brazil holding the rotating presidency, condemned the attacks as violations of international law and the UN Charter.

The bloc called for dialogue, de-escalation, and protection of civilian infrastructure, stressing the importance of upholding nuclear safety even in armed conflict. This episode is not an isolated case but fits a clear pattern in President Luiz Inácio Lula da Silva’s foreign policy.

Lula’s government has repeatedly aligned with authoritarian regimes, often at odds with Western democracies. In March 2023, Lula allowed two sanctioned Iranian warships to dock in Rio de Janeiro, despite objections from the United States.

That same year, he welcomed Iran into the BRICS group and met with then-Iranian president Ebrahim Raeisi, stopping short of condemning Iran’s human rights record.

Brazil’s Embrace of Iran Highlights Lula’s Pattern of Cozying Up to Authoritarian Regimes
Brazil’s Embrace of Iran Highlights Lula’s Pattern of Cozying Up to Authoritarian Regimes. (Photo Internet reproduction)
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Lula’s approach extends beyond Iran. He has called Cuba a “victim” of the US embargo and denounced Cuba’s inclusion on the US list of state sponsors of terrorism.

In Venezuela, Lula restored diplomatic ties with Nicolás Maduro’s government and refused to join dozens of nations in condemning Venezuela’s human rights abuses.

He dismissed charges against Maduro as a “constructed narrative,” drawing criticism from regional leaders who see his stance as minimizing real abuses.

Brazil’s Foreign Policy Balancing Act Faces Growing Strain

Lula’s foreign policy doctrine favors multilateralism and strategic autonomy, aiming to diversify Brazil’s alliances and reduce dependence on the US.

This has led to closer ties with China, Russia, and other non-Western powers. Lula’s government has often voiced anti-American rhetoric, especially when criticizing US sanctions or military interventions, and has positioned Brazil as a champion of the Global South.

However, this strategy comes with costs. Brazil’s alignment with regimes like Iran and Venezuela risks alienating key Western partners, especially the United States, which remains Brazil’s second-largest trading partner.

The US recently imposed a 10% tariff on Brazilian exports, citing trade imbalances. Such moves signal growing friction and potential economic consequences for Brazil.

Lula’s willingness to engage with authoritarian governments reflects a broader effort to assert Brazil’s independence on the world stage.

Yet, official records and diplomatic statements show that this approach often puts Brazil at odds with Western democracies and raises questions about the country’s commitment to human rights and democratic values.

As Brazil prepares to host the upcoming BRICS summit, its balancing act between East and West will remain under close scrutiny.

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