Brazilian President Rules Out Cutting Ties with Maduro; Says Sanctions “Only Harm the Venezuelan People”

Lula, who has criticized the Venezuelan president over his stance following the July elections, reaffirmed that Brazil still does not recognize the results of the vote.

Brazilian President Luiz Inácio Lula da Silva ruled out breaking diplomatic relations with Venezuela on Friday and criticized international sanctions against the country, arguing that the blockade “does not hurt (Nicolás) Maduro” but “only harms the Venezuelan people.”

Lula, who has spoken out against Maduro’s handling of the elections in July, reiterated that Brazil does not accept the results of the polls. However, he clarified that his government has no plans to sever bilateral relations.

“I’m also not in favor of unilateral punishment,” Lula said during an interview, where he described Maduro’s actions as “disappointing.” He added, “I believe Maduro’s behavior leaves much to be desired. Here in Brazil, we learned democracy through great hardship.”

Lula avoided siding with either the Chavistas or the opposition, emphasizing that “he will not recognize Maduro’s victory, nor that of the opposition,” a stance he has maintained for the past month. He lamented that Maduro “will have to face the consequences” of not publishing the complete electoral results.

As a solution to the political crisis, Lula has previously suggested holding new elections, a proposal that has not been well received by either side in Venezuela.

On Friday, Lula reiterated his stance: “Maduro, as president, should try to prove whether he is truly the people’s favorite and call for new elections, but he won’t.”

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Ignacio Teson
Ignacio Teson
Economist and Financial Analyst
Ignacio Teson is an Economist and Financial Analyst. He has more than 7 years of experience in emerging markets. He worked as an analyst and market operator at brokerage firms in Argentina and Spain.
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