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Tuesday, July 14, 2026

Supreme Court Justice Toffoli Orders Petrobras to Supply Fuel to Iranian Ships

By · July 26, 2019 · 2 min read

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RIO DE JANEIRO, BRAZIL – The presiding Justice of the Federal Supreme Court (STF), Justice Minister Dias Toffoli, ordered Petrobras to supply fuel to two Iranian ships that have been stranded for almost fifty days in the port of Paranaguá, in Paraná State.

Justice Minister Dias Toffoli, President of the Federal Supreme Court.
Justice Dias Toffoli of the Federal Supreme Court. (Photo internet reproduction)
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The decision was made on Wednesday night, July 24th. In the decision, the Justice factored in “potential damage to primary interests linked to national sovereignty, administrative order, and the economy.”

The controversial refusal to fuel led Iran’s ambassador to Brasília, Seyed Ali Saghaeyan, to issue harsh statements last Wednesday threatening to suspend imports of Brazilian products unless the issue was solved.

In the imbroglio, Eleva, the company in charge of the vessels, had its supply request denied in the lower court, but appealed to the Paraná Appellate Court (TJ-PR) and secured an order for the supply to be carried out within 72 hours under penalty of a fine. The federal government appealed, and the case went to the Supreme Court.

On July 10th, Toffoli suspended the TJ-PR ruling until the Federal Prosecutor Office (PGR) and Petrobras could express their opinion. In a statement sent to the STF last Friday, the PGR opined that Petrobras should not be forced to supply the ships.

On the same day, Petrobras confirmed that it had not supplied fuel for Iranian ships loaded with corn in the port.

According to the state-owned company, “the Iranian shipping company and the Iranian company that owns the vessels are sanctioned by the United States.” Petrobras claimed that it would be running the risk of being included in the same list were it to supply the ships. Justice Toffoli’s decision ordering the refueling rebutted those claims.

Live Company IntelligencePetroleo Brasileiro Petrobras SA ADR — the full investor dossierInside: live share price, market cap, three-year financials, valuation, ESG and peer benchmarks — plus the latest Rio Times coverage.
Rio Times · Live Ticker Intelligence
Petroleo Brasileiro Petrobras SA ADR
PETR4 · B3 São PauloEnergyOil & Gas Integrated
Share price · live
$40.70
▲ +0.10% today
Market cap
$111.6 bn
3.7 bn shares
P / E
5.5
EPS 3.14
Dividend yield
17.6%
$2.99 / share
The company
Employees
43,199
Headquarters
Rio De Janeiro
Listed since
2000

Petróleo Brasileiro S.A. – Petrobras explores, produces, and sells oil and gas in Brazil, China, the United States, the Americas, Asia, Europe, Singapore, and internationally. It operates through three segments: Exploration and Production; Refining, Transportation & Marketing; and Gas & Low Carbon Energies. The Exploration and…

Financial performance · FY · USD
RevenueNet income
2023
$105.5 bn
$25.7 bn
2024
$91.4 bn
$7.5 bn
2025
$88.1 bn
$19.7 bn

Net income declined to $19.7 bn in 2025, from $25.7 bn in 2023.

Valuation & returns
EBITDA margin
40.9%
Net margin
21.6%
Return on equity
25.6%
Price / book
1.30
Enterprise value
$167.7 bn
Revenue growth · YoY
+0.4%
Latest earnings
Q1 2026 — reported EPS 0.96 vs 0.99 expected
Missed −3%
Peers & comparators
IBOV
▲ +0.45%
USD/BRL
▼ -1.26%
BRENT
▲ +2.42%
Data: EODHD Fundamentals & live feed · The Rio Times Ticker Intelligence

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