BRAZIL PERSPECTIVE

Brasília, July 12, 2026. Brazil's government is closely monitoring the escalating tensions between the US and Iran, a conflict whose oil-related repercussions directly concern an export-driven economy like Brazil's. On Friday, July 10, the US Treasury announced new sanctions against Iran, targeting businessman Ali Ansari, based in Dubai, and 13 other individuals and entities. According to Treasury Secretary Scott Bessent, the US will "continue to use all tools at its disposal" to isolate Iran's elite from the global financial system. Ansari is accused of diverting public funds to benefit figures close to the Supreme Leader and the Revolutionary Guards. The US also revoked a license allowing certain sales of Iranian oil on Tuesday, a decision that increases pressure on global crude oil prices - a variable closely watched in Brasília, where imported inflation remains a concern for the government.

These measures come after the attack on three commercial tankers, flying Qatari and Saudi flags, in the Strait of Hormuz. According to US officials cited by G1, the US suspects an internal power struggle in Iran between pragmatic and hardline factions: Tehran allegedly indicated that the attacks came from "a disoriented part of its system." The US now demands a public Iranian statement guaranteeing free and toll-free navigation in the strait.

The Brazilian government is concerned about the impact of these developments on the global economy, particularly given the recent escalation of tensions. On July 7 and 8, more than 90 Iranian military targets were struck, resulting in at least 14 deaths, before an Iranian retaliation against US facilities in the Gulf. Donald Trump stated that the ceasefire agreed upon in June was "over," while accepting the continuation of negotiations requested by Tehran.

On Saturday, Iranian Foreign Minister Abbas Araqchi traveled to Oman to negotiate the secure reopening of the strait, alongside Qatari and Pakistani delegations. The US would be represented by JD Vance, Marco Rubio, Steve Witkoff, and Jared Kushner, according to CBS News and the BBC - although the Iranian agency Fars later denied any negotiations until the US backs down. The Estadão notes that the November 3 US election deadline complicates the equation for Trump, who is torn between easing energy prices and military withdrawal.