IBOV 185,147.15 ▼ 0.02% IPSA 11,315.26 ▼ 1.14% IPC MEX 65,163.64 ▼ 0.42% MERVAL 3,049,121 ▼ 0.29% COLCAP 2,544.56 ▲ 0.40% BVL PERÚ 59,978.22 ▼ 0.31% USD/BRL5.12▲ 0.31% USD/MXN16.88▼ 0.24% USD/CLP933.68▲ 0.29% USD/COP3,124▼ 1.12% USD/PEN3.35▼ 0.34% USD/ARS1,509▲ 0.01% USD/UYU40.24▲ 1.26% USD/PYG5,947▲ 2.52% USD/BOB12.40▲ 3.51% USD/DOP59.00▲ 0.85% USD/CRC448.67▲ 1.62% USD/GTQ7.63▲ 2.29% USD/HNL26.84▲ 0.28% USD/NIO36.62▲ 0.07% USD/VES805.37▼ 0.13% USD/PAB1.00— 0.00% USD/BZD2.00— 0.00% USD/JMD 157.28 — 0.00% USD/TTD6.71▲ 0.91% EUR/BRL5.95▲ 0.91% 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 185,147.15 ▼ 0.02% IPSA 11,315.26 ▼ 1.14% IPC MEX 65,163.64 ▼ 0.42% MERVAL 3,049,121 ▼ 0.29% COLCAP 2,544.56 ▲ 0.40% BVL PERÚ 59,978.22 ▼ 0.31% 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 Latin America

Trump Tells Brazil and Paraguay to Bring Venezuela Back Into Mercosur

By · May 18, 2026 · 4 min read

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Key Facts

The message. US president Donald Trump sent a private message to Paraguayan president Santiago Peña Palacios asking him to initiate Mercosur discussions on Venezuela’s return to the bloc, according to diplomatic sources cited by PlatôBR.

The opening. Venezuela has been suspended from Mercosur since 2016 under the Ushuaia Protocol’s democratic clause. The arrest of Nicolás Maduro by the United States in January 2026, and recognition of the Delcy Rodríguez government by Brazil and Paraguay, has reopened the diplomatic file.

The agreement so far. Lula has signalled agreement to Peña over the possibility of return during a meeting on March 22 at the 15th UN Convention to Combat Desertification (COP15). The formal invitation must come from Paraguay, which currently holds the bloc’s rotating presidency.

The blocker. Argentina, under president Javier Milei, is opposed. “Argentina does not want this return and will try to hold off as long as possible,” an Itamaraty source told PlatôBR. All five Mercosur founders (Brazil, Argentina, Paraguay, Uruguay, Bolivia) must agree for Venezuela to be reinstated.

The next step. A formal invitation to the Mercosur summit in Asunción on July 30, 2026, can be issued before full reinstatement. Diplomatic sources describe the move as a “consistent rumour” still in backchannel discussions.

Trump Tells Brazil and Paraguay to Bring Venezuela Back Into Mercosur.
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Three months after Nicolás Maduro was flown from Caracas to a Manhattan court and Delcy Rodríguez took the Venezuelan presidency, the United States has begun rewriting the South American regional architecture from the back-channels. Washington wants the country it has just defeated reintegrated. Brasília agrees. Asunción is moving. Buenos Aires is the obstacle.

What Trump said and to whom

The PlatôBR report, citing diplomatic sources, places the Trump message to Peña before the public emergence of the Paraguayan consultation with Brazil. The Rio Times, the Latin American financial news outlet, reports that the operational sequence matters: Washington asked Asunción to open the file, Asunción consulted Brasília, and Lula signalled openness during the March 22 bilateral meeting at the COP15 desertification conference. The formal initiative remains in Peña’s hands as bloc-rotation president, but the political clearance came from the White House first.

The Itamaraty assessment captured by PlatôBR is direct on the obstacle. “Argentina does not want this return and will try to hold off as long as possible,” a Brazilian diplomat told the outlet. The Milei administration has aligned with Washington across most regional questions, but on Mercosur expansion it remains the most reticent member.

Why Venezuela was suspended in the first place

Venezuela joined Mercosur as a full member in 2012 under Hugo Chávez. By December 2016 the country had been suspended for failing to incorporate the bloc’s free-trade and tariff regulations. In August 2017, the four founding members (Brazil, Argentina, Paraguay, Uruguay) invoked the Ushuaia Protocol’s democratic clause, citing the rupture of constitutional order under Maduro. Venezuela also accumulated debt to Mercosur bodies through PDVSA loans during its membership. Maduro’s transfer to US custody and the constitutional reorganisation under Delcy Rodríguez has reopened the question.

The Mercosur position map

Country Position on Venezuela return
Brazil (Lula) In favour; Lula agreed at March 22 meeting
Paraguay (Peña) In favour; US-aligned, holding rotating presidency
Argentina (Milei) Opposed; “will hold off as long as possible”
Uruguay Pending official position
Bolivia Pending official position
Venezuela (Rodríguez) Recognised by Brazil and Paraguay
Mercosur summit (Asunción) July 30, 2026
Suspension period 2016-present

The Washington logic

The Trump position on Venezuela is regime change followed by normalisation. The Maduro arrest delivered the regime-change leg; the Mercosur reintegration delivers normalisation. Washington benefits in three ways. It legitimises the Delcy Rodríguez transition without requiring election certification by the OAS. It re-anchors Venezuelan oil and mining flows inside a regional framework Washington increasingly influences through Paraguay and the Milei administration. And it removes the diplomatic isolation argument Caracas previously used to refuse reform.

The Lula calculus is parallel but distinct. Brazilian diplomacy has long argued that isolating Venezuela failed to produce reform and re-engagement is the only available lever. The political cost is real: Lula links Brazilian leadership capital to Caracas’s rehabilitation in a context where most observers view the Delcy Rodríguez transition with scepticism. The benefits include bilateral trade restoration, energy-sector coordination, and Brazilian influence over post-Maduro Venezuelan economic reconstruction.

What investors and analysts watch

  • July 30 Asunción summit. Whether Peña formally invites Venezuela. The invitation itself is symbolic; full reinstatement requires unanimous consent.
  • Argentina’s holding pattern. How long Milei can sustain the opposition position given his broader US alignment.
  • PDVSA debt. The Mercosur financial entanglement remains unresolved; reintegration discussions must address legacy obligations.
  • Mercosur-EU agreement. Venezuela’s reentry complicates the long-pending European ratification path, particularly with Brussels watchful of regional democratic standards.

Connected Coverage

The Alex Saab deportation context sits in our Saab deportation readout. Lula’s Washington Post interview is in our WaPo interview analysis. The UBS read on Brazil sits in our UBS Bassan analysis. The Brazil mafia threat sits in our mafia threat analysis.

Reported by The Rio Times — Latin American financial news. Filed May 18, 2026.

This article was produced by The Rio Times’ automated newsroom system. How we use AI · Report an error

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