IBOV 176,160 ▼ 0.68% IPSA 10,712 ▼ 1.05% IPC MEX 69,163 ▲ 1.32% MERVAL 2,924,129 ▲ 2.74% COLCAP 2,118 ▼ 0.22% BVL PERÚ 19,767 ▲ 0.37% USD/BRL 5.03 ▲ 0.20% USD/MXN 17.29 ▲ 0.10% USD/CLP 893.23 ▼ 0.25% USD/COP 3,666 ▼ 0.37% USD/PEN 3.40 ▼ 0.34% USD/ARS 1,410 ▲ 0.64% USD/UYU 40.01 ▲ 1.62% USD/PYG 6,131 ▲ 2.87% USD/BOB 6.85 ▲ 2.04% USD/DOP 58.30 ▲ 0.45% USD/CRC 449.72 ▲ 2.46% USD/GTQ 7.62 ▲ 2.64% USD/HNL 26.62 ▲ 2.09% USD/NIO 36.62 ▲ 1.03% USD/VES 534.05 ▲ 0.79% USD/PAB 1.00 ▲ 2.57% USD/BZD 2.00 ▲ 2.00% USD/JMD 156.59 ▲ 0.54% USD/TTD 6.72 ▲ 1.37% EUR/BRL 5.85 ▲ 0.04% BRENT 96.57 ▼ 6.73% WTI 93.76 ▼ 2.94% IRON ORE 161.91 — — COPPER 6.42 ▲ 1.18% GOLD 4,503 ▼ 0.39% SILVER 77.10 ▲ 1.58% SOY 1,186 ▼ 0.92% CORN 458.00 ▼ 1.13% WHEAT 635.00 ▼ 1.74% COFFEE 272.05 ▼ 0.11% SUGAR 14.53 ▼ 1.16% ORANGE JUICE 173.00 ▲ 0.90% COTTON 77.46 ▲ 0.05% COCOA 4,152 ▲ 9.38% BEEF 239.30 ▼ 4.01% CATTLE 349.38 ▼ 0.14% LITHIUM 86.22 ▲ 1.10% PETR4 43.36 ▼ 0.09% VALE3 82.69 ▼ 1.08% ITUB4 39.91 ▼ 1.02% BBDC4 17.80 ▼ 1.49% ABEV3 16.57 ▲ 1.04% BBAS3 21.16 ▼ 2.31% B3SA3 16.90 ▼ 2.09% WEGE3 43.13 ▼ 0.42% PRIO3 64.51 ▲ 0.31% SUZB3 41.69 ▲ 0.68% RENT3 43.71 ▼ 2.65% AZZA3 20.42 ▼ 2.25% CSAN3 4.24 ▼ 3.42% RAIZ4 0.39 ▼ 4.88% PCAR3 2.01 ▼ 2.90% GMAT3 4.27 ▼ 4.04% PSSA3 48.83 ▼ 0.83% CVCB3 1.72 ▼ 3.37% POSI3 4.14 ▲ 0.98% SLCE3 16.17 ▼ 0.31% NATU3 10.34 ▼ 1.80% BRKM5 11.53 ▼ 7.02% RANI3 7.92 ▼ 1.37% CSNA3 6.64 ▼ 1.19% CMIN3 4.53 ▲ 0.89% USIM5 9.65 ▼ 3.69% GGBR4 23.50 ▼ 2.81% ENEV3 25.04 ▼ 0.71% NEOE3 33.80 — 0.00% CPFE3 43.20 ▼ 0.23% CMIG4 11.18 ▼ 0.80% EQTL3 38.55 ▲ 0.13% LREN3 15.03 ▼ 2.47% VIVT3 33.85 ▲ 0.92% RAIL3 14.17 ▼ 1.32% KLABIN 16.62 ▲ 0.42% RAIA DROGASIL 17.93 ▼ 2.98% RDOR3 35.00 ▲ 1.42% HAPV3 12.48 ▲ 0.65% FLRY3 15.96 ▲ 0.25% SMTO3 17.13 ▼ 1.04% UGPA3 27.78 ▼ 2.32% VBBR3 31.80 ▼ 1.49% BBSE3 34.64 ▲ 0.06% BPAC11 55.28 ▼ 1.11% CURY3 32.08 ▲ 0.63% AERI3 2.32 ▼ 1.28% VIVARA 22.27 ▼ 2.02% COMPASS 26.88 ▼ 1.39% VAMOS 3.24 ▼ 3.86% SANB11 27.14 ▼ 1.81% ASAI3 9.08 ▼ 0.44% SBSP3 28.58 ▼ 1.79% WALMEX 54.32 ▼ 1.59% GMEXICO 213.10 ▲ 3.64% FEMSA 211.69 ▲ 0.79% CEMEX 22.61 ▲ 2.45% GFNORTE 193.18 ▲ 2.41% BIMBO 58.67 ▲ 1.23% TELEVISA 9.88 ▲ 2.38% AMX 22.54 ▲ 1.17% GAP 421.90 ▼ 0.77% ASUR 310.14 ▲ 2.78% OMA 219.77 ▼ 3.28% KOF 188.42 ▲ 1.14% GRUMA 297.48 ▲ 0.65% KIMBER 37.74 ▲ 0.05% SQM-B 71,942 ▼ 2.13% COPEC 6,416 ▼ 0.06% BSANTANDER 71.77 ▲ 0.27% FALABELLA 5,833 ▼ 1.62% ENELAM 78.33 ▼ 0.22% CENCOSUD 2,133 ▼ 3.04% CMPC 1,136 ▼ 0.81% BANCO CHILE 171.75 ▼ 0.24% LATAM AIR 23.23 ▼ 2.19% YPF 72,675 ▲ 2.32% GGAL 6,800 ▲ 5.34% PAMPA 4,805 ▲ 0.47% TXAR 645.50 ▲ 1.81% ALUAR 965.00 ▲ 2.82% TGS 8,660 ▼ 0.29% CEPU 2,158 ▲ 3.90% MIRGOR 16,250 ▼ 0.61% COME 44.24 ▲ 1.24% LOMA NEGRA 3,408 ▲ 3.97% BYMA 287.00 ▲ 0.61% TELECOM ARG 3,765 ▲ 7.80% ECOPETROL 14.99 ▲ 8.23% BANCOLOMBIA 71.85 ▲ 9.05% GRUPO AVAL 4.67 ▲ 10.28% CREDICORP 350.60 ▲ 4.88% SOUTHERN COPPER 189.12 ▲ 5.26% BUENAVENTURA 35.09 ▲ 4.87% MERCADOLIBRE 1,646 ▼ 1.09% NUBANK 12.89 ▲ 1.26% XP 17.08 ▲ 1.55% PAGSEGURO 9.11 ▼ 0.33% STONE 11.16 ▲ 1.41% GLOBANT 38.26 ▼ 4.66% TECNOGLASS 41.80 ▲ 1.55% GAP AIRPORT 244.74 ▲ 1.81% ASUR 310.14 ▲ 2.78% OMA AIRPORT 101.71 ▼ 1.45% AMX ADR 26.01 ▼ 0.52% FEMSA ADR 122.11 ▲ 0.68% CEMEX ADR 13.04 ▲ 3.82% PETROBRAS ADR 19.41 ▼ 2.46% VALE ADR 16.42 ▼ 0.39% ITAU ADR 7.90 ▲ 0.96% SANTANDER BR 5.44 ▲ 0.83% AMBEV ADR 3.28 ▲ 2.50% CSN 1.33 ▼ 1.48% GERDAU 4.67 ▼ 1.79% LATAM ADR 52.12 ▲ 4.47% BTC 75,875 ▼ 1.82% ETH 2,071 ▼ 1.92% SOL 83.76 ▼ 1.47% XRP 1.33 ▼ 1.38% BNB 656.23 ▼ 0.92% ADA 0.24 ▼ 1.42% DOGE 0.10 ▼ 0.96% AVAX 9.17 ▼ 1.43% LINK 9.40 ▼ 1.08% DOT 1.25 ▼ 1.21% LTC 51.83 ▼ 1.57% BCH 345.36 ▼ 1.70% TRX 0.37 ▲ 0.56% XLM 0.15 ▼ 1.46% HBAR 0.09 ▼ 1.46% NEAR 2.65 ▼ 4.68% ATOM 2.19 ▲ 2.64% AAVE 86.42 ▲ 0.14% SELIC 14.50% EMBRAER 72.30 ▼ 1.34% EMBRAER ADR 57.46 ▼ 0.21% JBS 12.89 ▼ 2.42% JBS BDR 64.71 ▼ 2.62% MBRF3 16.31 ▲ 0.43% MBRFY 3.27 ▼ 2.10% INTER 6.28 ▲ 1.87% IBOV 176,160 ▼ 0.68% IPSA 10,712 ▼ 1.05% IPC MEX 69,163 ▲ 1.32% MERVAL 2,924,129 ▲ 2.74% COLCAP 2,118 ▼ 0.22% BVL PERÚ 19,767 ▲ 0.37% USD/BRL 5.03 ▲ 0.20% USD/MXN 17.29 ▲ 0.10% USD/CLP 893.23 ▼ 0.25% USD/COP 3,666 ▼ 0.37% USD/PEN 3.40 ▼ 0.34% USD/ARS 1,410 ▲ 0.64% USD/UYU 40.01 ▲ 1.62% USD/PYG 6,131 ▲ 2.87% USD/BOB 6.85 ▲ 2.04% USD/DOP 58.30 ▲ 0.45% USD/CRC 449.72 ▲ 2.46% USD/GTQ 7.62 ▲ 2.64% USD/HNL 26.62 ▲ 2.09% USD/NIO 36.62 ▲ 1.03% USD/VES 534.05 ▲ 0.79% USD/PAB 1.00 ▲ 2.57% USD/BZD 2.00 ▲ 2.00% USD/JMD 156.59 ▲ 0.54% USD/TTD 6.72 ▲ 1.37% EUR/BRL 5.85 ▲ 0.04% BRENT 96.57 ▼ 6.73% WTI 93.76 ▼ 2.94% IRON ORE 161.91 — — COPPER 6.42 ▲ 1.18% GOLD 4,503 ▼ 0.39% SILVER 77.10 ▲ 1.58% SOY 1,186 ▼ 0.92% CORN 458.00 ▼ 1.13% WHEAT 635.00 ▼ 1.74% COFFEE 272.05 ▼ 0.11% SUGAR 14.53 ▼ 1.16% ORANGE JUICE 173.00 ▲ 0.90% COTTON 77.46 ▲ 0.05% COCOA 4,152 ▲ 9.38% BEEF 239.30 ▼ 4.01% CATTLE 349.38 ▼ 0.14% LITHIUM 86.22 ▲ 1.10% PETR4 43.36 ▼ 0.09% VALE3 82.69 ▼ 1.08% ITUB4 39.91 ▼ 1.02% BBDC4 17.80 ▼ 1.49% ABEV3 16.57 ▲ 1.04% BBAS3 21.16 ▼ 2.31% B3SA3 16.90 ▼ 2.09% WEGE3 43.13 ▼ 0.42% PRIO3 64.51 ▲ 0.31% SUZB3 41.69 ▲ 0.68% RENT3 43.71 ▼ 2.65% AZZA3 20.42 ▼ 2.25% CSAN3 4.24 ▼ 3.42% RAIZ4 0.39 ▼ 4.88% PCAR3 2.01 ▼ 2.90% GMAT3 4.27 ▼ 4.04% PSSA3 48.83 ▼ 0.83% CVCB3 1.72 ▼ 3.37% POSI3 4.14 ▲ 0.98% SLCE3 16.17 ▼ 0.31% NATU3 10.34 ▼ 1.80% BRKM5 11.53 ▼ 7.02% RANI3 7.92 ▼ 1.37% CSNA3 6.64 ▼ 1.19% CMIN3 4.53 ▲ 0.89% USIM5 9.65 ▼ 3.69% GGBR4 23.50 ▼ 2.81% ENEV3 25.04 ▼ 0.71% NEOE3 33.80 — 0.00% CPFE3 43.20 ▼ 0.23% CMIG4 11.18 ▼ 0.80% EQTL3 38.55 ▲ 0.13% LREN3 15.03 ▼ 2.47% VIVT3 33.85 ▲ 0.92% RAIL3 14.17 ▼ 1.32% KLABIN 16.62 ▲ 0.42% RAIA DROGASIL 17.93 ▼ 2.98% RDOR3 35.00 ▲ 1.42% HAPV3 12.48 ▲ 0.65% FLRY3 15.96 ▲ 0.25% SMTO3 17.13 ▼ 1.04% UGPA3 27.78 ▼ 2.32% VBBR3 31.80 ▼ 1.49% BBSE3 34.64 ▲ 0.06% BPAC11 55.28 ▼ 1.11% CURY3 32.08 ▲ 0.63% AERI3 2.32 ▼ 1.28% VIVARA 22.27 ▼ 2.02% COMPASS 26.88 ▼ 1.39% VAMOS 3.24 ▼ 3.86% SANB11 27.14 ▼ 1.81% ASAI3 9.08 ▼ 0.44% SBSP3 28.58 ▼ 1.79% WALMEX 54.32 ▼ 1.59% GMEXICO 213.10 ▲ 3.64% FEMSA 211.69 ▲ 0.79% CEMEX 22.61 ▲ 2.45% GFNORTE 193.18 ▲ 2.41% BIMBO 58.67 ▲ 1.23% TELEVISA 9.88 ▲ 2.38% AMX 22.54 ▲ 1.17% GAP 421.90 ▼ 0.77% ASUR 310.14 ▲ 2.78% OMA 219.77 ▼ 3.28% KOF 188.42 ▲ 1.14% GRUMA 297.48 ▲ 0.65% KIMBER 37.74 ▲ 0.05% SQM-B 71,942 ▼ 2.13% COPEC 6,416 ▼ 0.06% BSANTANDER 71.77 ▲ 0.27% FALABELLA 5,833 ▼ 1.62% ENELAM 78.33 ▼ 0.22% CENCOSUD 2,133 ▼ 3.04% CMPC 1,136 ▼ 0.81% BANCO CHILE 171.75 ▼ 0.24% LATAM AIR 23.23 ▼ 2.19% YPF 72,675 ▲ 2.32% GGAL 6,800 ▲ 5.34% PAMPA 4,805 ▲ 0.47% TXAR 645.50 ▲ 1.81% ALUAR 965.00 ▲ 2.82% TGS 8,660 ▼ 0.29% CEPU 2,158 ▲ 3.90% MIRGOR 16,250 ▼ 0.61% COME 44.24 ▲ 1.24% LOMA NEGRA 3,408 ▲ 3.97% BYMA 287.00 ▲ 0.61% TELECOM ARG 3,765 ▲ 7.80% ECOPETROL 14.99 ▲ 8.23% BANCOLOMBIA 71.85 ▲ 9.05% GRUPO AVAL 4.67 ▲ 10.28% CREDICORP 350.60 ▲ 4.88% SOUTHERN COPPER 189.12 ▲ 5.26% BUENAVENTURA 35.09 ▲ 4.87% MERCADOLIBRE 1,646 ▼ 1.09% NUBANK 12.89 ▲ 1.26% XP 17.08 ▲ 1.55% PAGSEGURO 9.11 ▼ 0.33% STONE 11.16 ▲ 1.41% GLOBANT 38.26 ▼ 4.66% TECNOGLASS 41.80 ▲ 1.55% GAP AIRPORT 244.74 ▲ 1.81% ASUR 310.14 ▲ 2.78% OMA AIRPORT 101.71 ▼ 1.45% AMX ADR 26.01 ▼ 0.52% FEMSA ADR 122.11 ▲ 0.68% CEMEX ADR 13.04 ▲ 3.82% PETROBRAS ADR 19.41 ▼ 2.46% VALE ADR 16.42 ▼ 0.39% ITAU ADR 7.90 ▲ 0.96% SANTANDER BR 5.44 ▲ 0.83% AMBEV ADR 3.28 ▲ 2.50% CSN 1.33 ▼ 1.48% GERDAU 4.67 ▼ 1.79% LATAM ADR 52.12 ▲ 4.47% BTC 75,875 ▼ 1.82% ETH 2,071 ▼ 1.92% SOL 83.76 ▼ 1.47% XRP 1.33 ▼ 1.38% BNB 656.23 ▼ 0.92% ADA 0.24 ▼ 1.42% DOGE 0.10 ▼ 0.96% AVAX 9.17 ▼ 1.43% LINK 9.40 ▼ 1.08% DOT 1.25 ▼ 1.21% LTC 51.83 ▼ 1.57% BCH 345.36 ▼ 1.70% TRX 0.37 ▲ 0.56% XLM 0.15 ▼ 1.46% HBAR 0.09 ▼ 1.46% NEAR 2.65 ▼ 4.68% ATOM 2.19 ▲ 2.64% AAVE 86.42 ▲ 0.14% SELIC 14.50% EMBRAER 72.30 ▼ 1.34% EMBRAER ADR 57.46 ▼ 0.21% JBS 12.89 ▼ 2.42% JBS BDR 64.71 ▼ 2.62% MBRF3 16.31 ▲ 0.43% MBRFY 3.27 ▼ 2.10% INTER 6.28 ▲ 1.87%
since 2009
Tuesday, May 26, 2026

Portugal Lets US Use Azores Base for Iran Strikes

By · March 4, 2026 · 3 min read

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Key Points
Portuguese PM Luís Montenegro told parliament the US was conditionally authorized to use Lajes Air Base in the Azores for operations against Iran
The three conditions require operations to be defensive or retaliatory, necessary and proportionate, and limited to military targets
The decision contrasts sharply with neighboring Spain, which refused base access and has drawn US threats of trade retaliation

Portugal has chosen its side in the transatlantic rift over the Iran campaign — and it is not standing with its neighbor. Prime Minister Luís Montenegro told parliament on Wednesday that his government had conditionally authorized the United States to use Lajes Air Base in the Azores archipelago for operations directed against Iran, placing Lisbon firmly in Washington‘s corner while Spain’s refusal to do the same has triggered American threats of a trade embargo.

The authorization, Montenegro said, was granted on three conditions: that the operations be defensive or retaliatory in nature, that they be necessary and proportionate, and that they exclusively target military objectives. He insisted these conditions were aligned with international law, though he carefully avoided stating whether he personally supported or opposed the US-Israeli strikes on Iran that began over the weekend.

A Base Already in Use

The authorization formalized what had been happening for weeks. According to the Portuguese news agency Lusa, US military activity at Lajes intensified from February 18. Fifteen KC-46 Pegasus aerial refueling aircraft were stationed at the base for over a week, alongside twelve F-16 Viper fighters and several cargo planes including a C-5M Super Galaxy. Thirteen aircraft departed on Sunday after the joint US-Israeli attack commenced.

Portugal Lets US Use Azores Base for Iran Strikes. (Photo Internet reproduction)

Foreign Minister Paulo Rangel had acknowledged that the bilateral defense agreement allows for “tacit authorizations given with relatively short notice,” meaning Washington could use Lajes without formal approval during peacetime. Once hostilities began, the government moved to issue the conditional authorization Montenegro defended in parliament.

Opposition Pushes Back

The decision has drawn fierce criticism across the Portuguese political spectrum. The Socialist Party has demanded that Rangel appear before parliament to explain the legal basis for recent US force movements. André Franqueira Rodrigues, a Socialist member of the European Parliament, accused the government of accepting a subordination that weakens Portugal’s negotiating position. The Left Bloc in the Azores condemned what it called “total submission” to American interests, while the Communist Party called for protests.

Iran’s ambassador to Portugal, Majid Tafreshi, added a layer of unease when he told Antena 1 radio that while he did not expect Iran to target the Azores, Tehran considers all bases facilitating US and Israeli strikes to be legitimate military targets. With more than 10,000 Portuguese nationals living across the Gulf states now affected by the conflict, including in Saudi Arabia, Qatar, and the United Arab Emirates, the security implications extend well beyond the mid-Atlantic.

The Iberian Divide

Montenegro declined to comment on Spain’s decision to deny base access, and he avoided expressing solidarity with Spanish Prime Minister Pedro Sánchez, who posted “No to the war” on Wednesday and has faced Trump’s fury for his stance. Trump called Spain a “terrible” ally and threatened to sever all trade ties. France’s Emmanuel Macron and European Council President António Costa — himself Portuguese — have both refrained from criticizing the strikes, leaving Sánchez increasingly isolated among European leaders.

Sovereignty on a Short Leash

Montenegro’s parliamentary performance revealed the awkward space Portugal occupies. He stressed that Portugal was not involved in the military action, yet in the same breath affirmed Lisbon’s closer relationship with Washington than with Tehran. The three conditions he outlined may provide legal cover, but they also raise questions about how Portugal could meaningfully enforce them once aircraft leave Lajes. For a small NATO member caught between alliance loyalty and domestic unease, the conditional authorization is an exercise in strategic ambiguity — designed to satisfy Washington without fully confronting the political cost at home.

This is part of The Rio Times’ daily coverage of Latin American news and Latin American financial news.

For more context, read Brazil’s Morning Call and the USD/BRL exchange rate report.

Deep Dive

For the complete picture, read our in-depth guide: Iran War and Hormuz Crisis 2026: Oil, Latin America and the Global Fallout

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