IBOV 172,742 ▲ 1.22% IPSA 11,025 ▲ 0.72% IPC MEX 66,107 ▼ 0.75% MERVAL 3,202,490 ▼ 0.67% COLCAP 2,292.75 ▼ 0.87% BVL PERÚ 54,904.64 ▲ 2.35% USD/BRL5.12▲ 0.05% USD/MXN17.52▼ 0.17% USD/CLP927.10▼ 0.06% USD/COP3,287▼ 1.68% USD/PEN3.39▼ 0.18% USD/ARS1,487▼ 0.03% USD/UYU40.30▲ 1.41% USD/PYG6,061▲ 1.64% USD/BOB9.85▲ 1.04% USD/DOP58.47▼ 0.14% USD/CRC450.34▲ 1.74% USD/GTQ7.62▲ 2.23% USD/HNL26.72▲ 1.48% USD/NIO36.62▲ 0.26% USD/VES707.92▼ 0.13% USD/PAB1.00— 0.00% USD/BZD2.00— 0.00% USD/JMD158.07▲ 0.80% USD/TTD6.73▲ 0.97% EUR/BRL5.85▼ 0.69% BRENT 76.17 ▼ 0.17% WTI 71.90 ▼ 0.25% IRON ORE 161.91 — — COPPER 6.26 ▲ 0.73% GOLD 4,112 ▼ 0.45% SILVER 59.87 ▼ 0.85% SOY 1,174 ▼ 0.51% CORN 448.50 ▲ 4.85% WHEAT 615.25 ▲ 0.65% COFFEE 331.20 ▼ 7.21% SUGAR 14.96 ▼ 1.06% ORANGE JUICE 145.35 ▼ 8.15% COTTON 79.73 ▲ 4.69% COCOA 6,229 ▼ 1.27% BEEF 231.60 ▼ 2.54% CATTLE 356.28 ▼ 1.60% LITHIUM 72.82 ▲ 0.97% PETR4 39.21 ▼ 1.11% VALE3 73.15 ▲ 0.62% ITUB4 42.59 ▲ 1.67% BBDC4 18.00 ▲ 1.75% ABEV3 15.72 ▲ 0.64% BBAS3 20.00 ▲ 2.41% B3SA3 14.79 ▲ 3.86% WEGE3 45.74 ▲ 0.86% PRIO3 55.61 ▼ 1.44% SUZB3 41.03 ▲ 0.49% RENT3 39.40 ▲ 1.44% AZZA3 18.46 ▲ 3.13% CSAN3 3.86 ▲ 2.93% RAIZ4 0.37 ▼ 2.63% PCAR3 2.76 ▲ 1.85% GMAT3 3.93 ▲ 5.08% PSSA3 53.35 ▲ 1.62% CVCB3 1.25 ▲ 2.46% POSI3 3.85 ▲ 1.85% SLCE3 13.79 ▲ 4.39% NATU3 8.46 ▼ 0.47% BRKM5 6.36 ▲ 3.58% RANI3 7.86 ▼ 0.25% CSNA3 4.80 ▲ 2.78% CMIN3 4.83 ▲ 3.65% USIM5 8.35 — 0.00% GGBR4 22.48 ▲ 1.54% ENEV3 26.20 ▲ 2.75% CPFE3 46.29 ▲ 1.83% CMIG4 11.08 ▲ 2.59% EQTL3 39.51 ▲ 2.23% LREN3 14.15 ▲ 3.21% VIVT3 34.50 ▲ 0.55% RAIL3 13.75 ▲ 3.77% KLABIN 17.40 ▲ 1.40% RAIA DROGASIL 18.13 ▲ 4.68% RDOR3 35.15 ▲ 3.14% HAPV3 10.07 ▲ 1.10% FLRY3 15.75 ▲ 2.21% SMTO3 16.05 ▲ 5.25% UGPA3 30.10 ▲ 2.52% VBBR3 32.10 ▲ 1.42% BBSE3 39.28 ▲ 1.37% BPAC11 55.68 ▲ 3.21% CURY3 32.70 ▲ 4.37% AERI3 2.06 ▲ 1.48% VIVARA 22.58 ▲ 1.85% COMPASS 24.68 ▲ 0.65% VAMOS 2.96 ▲ 5.34% SANB11 26.25 ▲ 2.54% ASAI3 8.46 ▼ 0.35% SBSP3 30.00 ▲ 2.56% WALMEX 49.06 ▼ 1.25% GMEXICO 195.90 ▼ 0.35% FEMSA 222.73 ▼ 1.00% CEMEX 21.66 ▲ 1.26% GFNORTE 185.51 ▼ 0.76% BIMBO 56.10 ▼ 1.34% TELEVISA 9.50 ▼ 0.42% AMX 22.70 ▼ 2.24% GAP 412.12 ▼ 0.87% ASUR 283.61 ▼ 0.38% OMA 238.51 ▲ 1.15% KOF 180.82 ▼ 1.26% GRUMA 283.26 ▲ 0.17% KIMBER 38.49 ▼ 0.75% SQM-B 69,100 ▼ 0.58% COPEC 6,020 ▼ 0.17% BSANTANDER 77.50 ▲ 0.52% FALABELLA 5,851 ▼ 0.49% ENELAM 84.16 ▼ 1.44% CENCOSUD 2,057 ▼ 1.08% CMPC 1,095 ▲ 1.47% BANCO CHILE 187.00 ▲ 0.84% LATAM AIR 26.40 ▲ 3.53% YPF 75,775 — 0.00% GGAL 7,880 — 0.00% PAMPA 5,205 — 0.00% TXAR 664.50 — 0.00% ALUAR 968.50 — 0.00% TGS 9,310 — 0.00% CEPU 2,315 — 0.00% MIRGOR 17,200 — 0.00% COME 45.42 — 0.00% LOMA NEGRA 3,498 — 0.00% BYMA 309.75 ▲ 1.14% TELECOM ARG 4,120 — 0.00% ECOPETROL 15.39 ▲ 1.72% BANCOLOMBIA 80.93 ▲ 1.15% GRUPO AVAL 5.02 ▲ 3.72% CREDICORP 391.77 ▲ 2.70% SOUTHERN COPPER 174.43 ▲ 4.32% BUENAVENTURA 29.56 ▲ 4.23% MERCADOLIBRE 1,808 ▼ 0.09% NUBANK 13.67 ▲ 2.24% XP 16.41 ▲ 6.28% PAGSEGURO 9.00 ▲ 2.62% STONE 10.96 ▲ 4.18% GLOBANT 31.29 ▲ 4.65% TECNOGLASS 43.20 ▼ 1.68% GAP AIRPORT 234.47 ▼ 0.77% ASUR 283.61 ▼ 0.38% OMA AIRPORT 108.33 ▲ 0.96% AMX ADR 25.84 ▼ 2.16% FEMSA ADR 127.07 ▼ 0.57% CEMEX ADR 12.37 ▲ 1.64% PETROBRAS ADR 17.03 ▼ 1.22% VALE ADR 14.22 ▲ 1.21% ITAU ADR 8.28 ▲ 1.47% SANTANDER BR 5.14 ▲ 1.98% AMBEV ADR 3.04 ▲ 0.66% CSN 0.95 ▲ 3.52% GERDAU 4.41 ▲ 2.56% LATAM ADR 57.04 ▲ 4.66% BTC 64,360 ▲ 1.85% ETH 1,792 ▲ 2.70% SOL 79.19 ▲ 1.47% XRP 1.12 ▲ 1.98% BNB 576.48 ▲ 1.41% ADA 0.17 ▲ 1.32% DOGE 0.07 ▲ 2.09% AVAX 6.75 ▲ 1.00% LINK 7.97 ▲ 3.05% DOT 0.88 ▲ 6.78% LTC 44.55 ▲ 1.79% BCH 245.29 ▲ 3.16% TRX 0.33 ▼ 0.53% XLM 0.19 ▲ 3.68% HBAR 0.07 ▲ 1.44% NEAR 1.95 ▲ 1.33% ATOM 1.59 ▲ 2.40% AAVE 97.72 ▲ 7.08% SELIC 14.25% EMBRAER ADR 65.54 ▲ 3.34% JBS 11.73 ▼ 0.76% JBS BDR 60.05 ▼ 1.40% MBRF3 15.41 ▲ 0.20% MBRFY 3.00 ▲ 3.09% INTER 5.71 ▲ 2.51% IBOV 172,742 ▲ 1.22% IPSA 11,025 ▲ 0.72% IPC MEX 66,107 ▼ 0.75% MERVAL 3,202,490 ▼ 0.67% COLCAP 2,292.75 ▼ 0.87% BVL PERÚ 54,904.64 ▲ 2.35% USD/BRL 5.12 ▲ 0.05% USD/MXN 17.52 ▼ 0.17% USD/CLP 927.10 ▼ 0.06% USD/COP 3,287 ▼ 1.68% USD/PEN 3.39 ▼ 0.18% USD/ARS 1,487 ▼ 0.03% USD/UYU 40.30 ▲ 1.41% USD/PYG 6,061 ▲ 1.64% USD/BOB 9.85 ▲ 1.50% USD/DOP 58.47 ▼ 0.14% USD/CRC 450.34 ▲ 1.59% USD/GTQ 7.62 ▲ 2.23% USD/HNL 26.72 ▲ 1.48% USD/NIO 36.62 ▲ 0.26% USD/VES 707.92 ▼ 0.13% USD/PAB 1.00 — 0.00% USD/BZD 2.00 — 0.00% USD/JMD 158.07 ▲ 0.80% USD/TTD 6.73 ▲ 0.97% EUR/BRL 5.85 ▼ 0.69% BRENT 76.17 ▼ 0.17% WTI 71.90 ▼ 0.25% IRON ORE 161.91 — — COPPER 6.26 ▲ 0.73% GOLD 4,112 ▼ 0.45% SILVER 59.87 ▼ 0.85% SOY 1,174 ▼ 0.51% CORN 448.50 ▲ 4.85% WHEAT 615.25 ▲ 0.65% COFFEE 331.20 ▼ 7.21% SUGAR 14.96 ▼ 1.06% ORANGE JUICE 145.35 ▼ 8.15% COTTON 79.73 ▲ 4.69% COCOA 6,229 ▼ 1.27% BEEF 231.60 ▼ 2.54% CATTLE 356.28 ▼ 1.60% LITHIUM 72.82 ▲ 0.97% PETR4 39.21 ▼ 1.11% VALE3 73.15 ▲ 0.62% ITUB4 42.59 ▲ 1.67% BBDC4 18.00 ▲ 1.75% ABEV3 15.72 ▲ 0.64% BBAS3 20.00 ▲ 2.41% B3SA3 14.79 ▲ 3.86% WEGE3 45.74 ▲ 0.86% PRIO3 55.61 ▼ 1.44% SUZB3 41.03 ▲ 0.49% RENT3 39.40 ▲ 1.44% AZZA3 18.46 ▲ 3.13% CSAN3 3.86 ▲ 2.93% RAIZ4 0.37 ▼ 2.63% PCAR3 2.76 ▲ 1.85% GMAT3 3.93 ▲ 5.08% PSSA3 53.35 ▲ 1.62% CVCB3 1.25 ▲ 2.46% POSI3 3.85 ▲ 1.85% SLCE3 13.79 ▲ 4.39% NATU3 8.46 ▼ 0.47% BRKM5 6.36 ▲ 3.58% RANI3 7.86 ▼ 0.25% CSNA3 4.80 ▲ 2.78% CMIN3 4.83 ▲ 3.65% USIM5 8.35 — 0.00% GGBR4 22.48 ▲ 1.54% ENEV3 26.20 ▲ 2.75% CPFE3 46.29 ▲ 1.83% CMIG4 11.08 ▲ 2.59% EQTL3 39.51 ▲ 2.23% LREN3 14.15 ▲ 3.21% VIVT3 34.50 ▲ 0.55% RAIL3 13.75 ▲ 3.77% KLABIN 17.40 ▲ 1.40% RAIA DROGASIL 18.13 ▲ 4.68% RDOR3 35.15 ▲ 3.14% HAPV3 10.07 ▲ 1.10% FLRY3 15.75 ▲ 2.21% SMTO3 16.05 ▲ 5.25% UGPA3 30.10 ▲ 2.52% VBBR3 32.10 ▲ 1.42% BBSE3 39.28 ▲ 1.37% BPAC11 55.68 ▲ 3.21% CURY3 32.70 ▲ 4.37% AERI3 2.06 ▲ 1.48% VIVARA 22.58 ▲ 1.85% COMPASS 24.68 ▲ 0.65% VAMOS 2.96 ▲ 5.34% SANB11 26.25 ▲ 2.54% ASAI3 8.46 ▼ 0.35% SBSP3 30.00 ▲ 2.56% WALMEX 49.06 ▼ 1.25% GMEXICO 195.90 ▼ 0.35% FEMSA 222.73 ▼ 1.00% CEMEX 21.66 ▲ 1.26% GFNORTE 185.51 ▼ 0.76% BIMBO 56.10 ▼ 1.34% TELEVISA 9.50 ▼ 0.42% AMX 22.70 ▼ 2.24% GAP 412.12 ▼ 0.87% ASUR 283.61 ▼ 0.38% OMA 238.51 ▲ 1.15% KOF 180.82 ▼ 1.26% GRUMA 283.26 ▲ 0.17% KIMBER 38.49 ▼ 0.75% SQM-B 69,100 ▼ 0.58% COPEC 6,020 ▼ 0.17% BSANTANDER 77.50 ▲ 0.52% FALABELLA 5,851 ▼ 0.49% ENELAM 84.16 ▼ 1.44% CENCOSUD 2,057 ▼ 1.08% CMPC 1,095 ▲ 1.47% BANCO CHILE 187.00 ▲ 0.84% LATAM AIR 26.40 ▲ 3.53% YPF 75,775 — 0.00% GGAL 7,880 — 0.00% PAMPA 5,205 — 0.00% TXAR 664.50 — 0.00% ALUAR 968.50 — 0.00% TGS 9,310 — 0.00% CEPU 2,315 — 0.00% MIRGOR 17,200 — 0.00% COME 45.42 — 0.00% LOMA NEGRA 3,498 — 0.00% BYMA 309.75 ▲ 1.14% TELECOM ARG 4,120 — 0.00% ECOPETROL 15.39 ▲ 1.72% BANCOLOMBIA 80.93 ▲ 1.15% GRUPO AVAL 5.02 ▲ 3.72% CREDICORP 391.77 ▲ 2.70% SOUTHERN COPPER 174.43 ▲ 4.32% BUENAVENTURA 29.56 ▲ 4.23% MERCADOLIBRE 1,808 ▼ 0.09% NUBANK 13.67 ▲ 2.24% XP 16.41 ▲ 6.28% PAGSEGURO 9.00 ▲ 2.62% STONE 10.96 ▲ 4.18% GLOBANT 31.29 ▲ 4.65% TECNOGLASS 43.20 ▼ 1.68% GAP AIRPORT 234.47 ▼ 0.77% ASUR 283.61 ▼ 0.38% OMA AIRPORT 108.33 ▲ 0.96% AMX ADR 25.84 ▼ 2.16% FEMSA ADR 127.07 ▼ 0.57% CEMEX ADR 12.37 ▲ 1.64% PETROBRAS ADR 17.03 ▼ 1.22% VALE ADR 14.22 ▲ 1.21% ITAU ADR 8.28 ▲ 1.47% SANTANDER BR 5.14 ▲ 1.98% AMBEV ADR 3.04 ▲ 0.66% CSN 0.95 ▲ 3.52% GERDAU 4.41 ▲ 2.56% LATAM ADR 57.04 ▲ 4.66% BTC 64,360 ▲ 1.85% ETH 1,792 ▲ 2.70% SOL 79.19 ▲ 1.47% XRP 1.12 ▲ 1.98% BNB 576.48 ▲ 1.41% ADA 0.17 ▲ 1.32% DOGE 0.07 ▲ 2.09% AVAX 6.75 ▲ 1.00% LINK 7.97 ▲ 3.05% DOT 0.88 ▲ 6.78% LTC 44.55 ▲ 1.79% BCH 245.29 ▲ 3.16% TRX 0.33 ▼ 0.53% XLM 0.19 ▲ 3.68% HBAR 0.07 ▲ 1.44% NEAR 1.95 ▲ 1.33% ATOM 1.59 ▲ 2.40% AAVE 97.72 ▲ 7.08% SELIC 14.25% EMBRAER ADR 65.54 ▲ 3.34% JBS 11.73 ▼ 0.76% JBS BDR 60.05 ▼ 1.40% MBRF3 15.41 ▲ 0.20% MBRFY 3.00 ▲ 3.09% INTER 5.71 ▲ 2.51%
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Friday, July 10, 2026

Lula Blocks Venezuela and Nicaragua from BRICS Amid Diplomatic Tensions

By · October 22, 2024 · 2 min read

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President Lula has altered his stance on Venezuela and Nicaragua joining BRICS, instructing the Brazilian delegation to block new members at the upcoming summit in Russia. This decision marks a significant change from Lula’s previous support for Venezuela’s entry into the group.

The BRICS summit, scheduled from October 22 to 24, will discuss criteria for partner countries. These partners won’t be full members but can participate in internal discussions and meetings. The summit will determine the level of involvement for this new category.

The bloc increasingly consists of authoritarian nations like China, Russia, Saudi Arabia, Iran, and Egypt, raising global concerns due to their repressive governance and potential to undermine democratic values.

Lula’s change of position stems from recent diplomatic tensions. Venezuela’s President Maduro refused to share election records, straining relations between the two nations. The situation worsened when Venezuela’s Attorney General, Tarek Saab, accused Lula of being “co-opted” by the CIA.

Lula Blocks Venezuela and Nicaragua from BRICS Amid Diplomatic Tensions. (Photo Internet reproduction)
Lula Blocks Venezuela and Nicaragua from BRICS Amid Diplomatic Tensions. (Photo Internet reproduction)
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As for Nicaragua, Lula cut ties with Daniel Ortega’s government in August 2024. This followed a tit-for-tat expulsion of ambassadors, triggered by Brazil’s criticism of Nicaragua’s human rights record and persecution of clergy and political opponents.

Venezuela has been pushing to join BRICS, with support from China and Russia. The bloc recently expanded to include Iran, UAE, Ethiopia, and Egypt in January.

Lula Blocks Venezuela and Nicaragua from BRICS Amid Diplomatic Tensions

The Itamaraty, Brazil’s foreign ministry, has set requirements for potential partners. New entrants must support UN reform, especially of the Security Council. They should also have good diplomatic ties with current BRICS members and avoid backing unauthorized economic sanctions.

BRICS countries currently represent 37% of the global economy. Some studies suggest the group could surpass the G7 in coming years, driven by China and India’s growth. This potential makes membership increasingly attractive to other nations.

Lula’s opposition to Venezuela and Nicaragua joining BRICS seems to be a calculated move. It aims to protect Brazil’s international standing and respond to recent diplomatic affronts, rather than signifying a fundamental change in his political philosophy.

 

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