Brazilian President: War on Iran has led to global rise in fuel and food prices - Sarmad

Brazilian President Luiz Inácio Lula da Silva stated that the war against Iran has led to a rise in fuel, fertilizer, and food prices worldwide.

In an interview with CNN, Lula said, “Iran does not possess a nuclear weapon. Now they have started a war against Iran, and what has happened to the world? Now the entire world is paying more for fuel, fertilizer prices have risen, food prices are rising here in the United States, and they are rising in all countries.”

The Brazilian president explained that his country is taking measures to prevent the economic repercussions of the conflict from spilling over into its domestic market, noting in this context the imposition of a special tax on windfall profits from oil exports. Lula emphasized, “We do not want this military chaos to reach Brazil and affect it. The situation in the Strait of Hormuz is harming the rest of the world. We do not want that to reach Brazil.”

It is worth noting that the United States and Israel launched a military operation against Iran at the end of last February, which led to a sharp decline in shipping traffic through the Strait of Hormuz, a waterway that previously carried approximately one-fifth of the world’s oil and liquefied natural gas supplies.