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Trump demands Iran reopen Strait of Hormuz, slams NATO and warns: “Cuba is next”

Trump extended on Thursday the deadline for Tehran to accept his terms to April 6, “at the request of the Iranian government,” as he announced on social media

U.S. President Donald Trump said on Friday that the military operation against Iran is “two weeks ahead” of schedule, demanded the reopening of the Strait of Hormuz, and sharply criticized European NATO allies for refusing to join the campaign. “When these times come, you learn who your real friends are,” he told an audience of a thousand investors at the FII Priority forum in Miami.

Trump extended on Thursday the deadline for Tehran to accept his terms to April 6, “at the request of the Iranian government,” as he announced on social media. In his speech, he insisted Iran is desperate to negotiate. “They are begging to make a deal. They are 100% finished,” he stated.

The president described military progress, saying U.S. forces are destroying weapons arsenals, missile and drone factories, and dismantling Iran’s defense industrial base. Regarding the Iranian leadership, he declared: “Their Supreme Leader is no longer supreme; he’s dead. His son is dead or in very bad shape, because nobody has heard from him.” He also jokingly referred to the Strait of Hormuz as “the Strait of Trump” before correcting himself with laughter.

His special envoy for the Middle East, Steve Witkoff, expressed confidence that a meeting between both countries would take place next week. Secretary of State Marco Rubio said he expects the war to end “in weeks, not months.”

Trump saved his harshest criticism for European allies. He named France, Germany, and the United Kingdom as countries he asked to help form a coalition to reopen Hormuz and which, according to him, offered excuses instead. “They told me: ‘This is not our war.’ Well, Ukraine is not our war, but we helped them,” he said in what sounded like a direct warning about Washington’s future commitment to European defense.

In contrast, the president praised Saudi Crown Prince Mohammed bin Salman, calling him a “warrior” and “great friend.” The forum was organized by Saudi sovereign wealth fund PIF, which last year announced $600 billion in U.S. investments.

In a moment that drew immediate attention, Trump warned: “Cuba is next, by the way.” He then asked the media to ignore the statement, only to repeat it. The threat adds to the military operation that captured former Venezuelan President Nicolás Maduro earlier this year, which Trump also described during his remarks.

Trump spoke at the same forum where interim Venezuelan President Delcy Rodríguez had participated by videoconference two days earlier, courting investors with promises of legal certainty. The U.S. president chose to attend this event rather than join opposition leader María Corina Machado, who was present this week at the CERAWeek energy conference in Texas.

The appearance came at a low point in Trump’s approval ratings, six months before midterm elections, and amid controversy over his having voted by mail in Florida despite pushing legislation to restrict that practice.

New York court overturns $16 billion ruling against Argentina in YPF expropriation case

The court held that trial judge Loretta Preska misinterpreted Argentine law by treating YPF’s bylaws as a bilateral contract

The U.S. Court of Appeals for the Second Circuit in New York overturned on Thursday the ruling that required Argentina to pay over $16 billion in compensation to minority shareholders of YPF for the 2012 expropriation of the oil company. The decision, issued with one dissenting vote, represents Argentina’s largest judicial victory abroad in over a decade of litigation.

The court held that trial judge Loretta Preska misinterpreted Argentine law by treating YPF’s bylaws as a bilateral contract. “Plaintiffs’ breach-of-contract damages claims against the Republic are not cognizable under Argentina’s civil codes or under the public law governing expropriation,” the ruling states, ordering the case returned to the lower court.

The plaintiffs — Petersen Energía and Eton Park, backed by British litigation funder Burford Capital — had argued that Argentina failed to offer them the same terms as Spain’s Repsol when the government of Cristina Fernández de Kirchner expropriated 51% of the oil company’s shares. Preska had ruled in their favor in 2023, ordering payment with interest at 5.42% annually.

Argentina’s lead attorney, Robert J. Giuffra Jr. of Sullivan & Cromwell, said the ruling “fully vindicates Argentina’s position” and noted that Burford had acquired the litigation rights “for a mere 15 million euros and sought to turn U.S. courts into a casino through its own interpretation of Argentine law.” Following the decision, Burford’s shares plunged over 40%, while YPF’s stock rose 5%.

President Javier Milei celebrated the ruling on social media and in a national broadcast, calling it a “historic decision” and stating that the payment Argentina avoids is equivalent to “70 million minimum pensions.” Milei blamed Fernández de Kirchner and current Buenos Aires Governor Axel Kicillof — who served as economy minister at the time of the expropriation — and announced he would send Congress a bill to reform the expropriation law.

GANAMOS EN EL JUICIO DE YPF…!!!

TMAP.

MAGA.

VLLC! pic.twitter.com/OwNnppGr8p

— Javier Milei (@JMilei) March 27, 2026

However, international litigation specialist Sebastián Maril warned that the case “is not legally over.” The plaintiffs can request an en banc review by the full Second Circuit or, as a final recourse, appeal to the U.S. Supreme Court. Maril also pushed back on attributing credit to the current government: “Four governments have come and gone since this case began, and all four maintained the same strategy. The credit belongs to Argentina’s Solicitor General’s office.”

The analyst noted the ruling could set a complex precedent for international investors, given that YPF’s bylaws predated the expropriation law passed by Argentina’s Congress, potentially opening the door for other governments to follow similar steps.

The decision arrives at a politically convenient moment for Milei, whose image has been damaged in recent weeks by the judicial investigation into the $Libra crypto scandal, which the president promoted on social media, and questions about the spending of his Cabinet Chief, Manuel Adorni.

Brazil unveils first supersonic fighter jet manufactured on its soil, a milestone for Latin America

President Luiz Inácio Lula da Silva led the ceremony and christened the aircraft by spraying a champagne bottle over the fuselage

Brazilian aircraft manufacturer Embraer unveiled on Wednesday the first F-39E Gripen fighter jet manufactured in Brazil, a milestone the country’s presidency called “unprecedented in Latin America.” It is the first of 15 supersonic combat aircraft Embraer will produce at its facility in Gavião Peixoto, São Paulo state, under a total contract for 36 jets ordered from Swedish firm Saab.

President Luiz Inácio Lula da Silva led the ceremony and christened the aircraft by spraying a champagne bottle over the fuselage. “It is a highly symbolic moment, showing a country that believes in itself, invests in technology and reaffirms its sovereignty,” Lula wrote on social media.

Defense Minister José Múcio stated during the event that “this project consolidates our deterrence capability, increasing our capacity to guarantee national sovereignty and regional security.” Vice President Geraldo Alckmin, also in attendance, noted that “the defense industry is an insurance policy for national sovereignty, while standing at the forefront of industrial development.”

Brazil awarded the contract to Saab in 2014, choosing the Swedish Gripen over France’s Dassault Rafale and Boeing’s F/A-18 Super Hornet. The decision was the subject of an extensive investigation over corruption allegations linked to the rejection of the Rafale. Lula, who was prosecuted in connection with the case after his first terms in office (2003-2010), was ultimately acquitted for lack of evidence in 2021. The first Gripen manufactured in Sweden was delivered to the Brazilian Air Force in September 2020, with foreign-built units incorporated progressively since then.

The fighter’s unveiling comes amid growing defense concerns in the region. Brazil, which has historically positioned itself as a peaceful nation, has increasingly focused on military capabilities given the turbulent geopolitical landscape, marked by the U.S.-Israeli war against Iran and the U.S. military intervention in Venezuela that led to the capture of former President Nicolás Maduro in January.

The Gripen program represents a strategic bet by Brazil on technology transfer and the development of its defense industry. Local manufacturing allows Embraer to access cutting-edge combat aircraft production technology, strengthening the country’s industrial capabilities beyond commercial aviation, a sector in which the Brazilian company is already a global leader.

UN warns: over 10,000 Colombians recruited as mercenaries in the past decade

Soldiers of the Colombian National Army at attention. Photo: AFP

A UN expert group on mercenaries warned on Friday of a significant increase in the recruitment of Colombian mercenaries, driven by the proliferation of armed conflicts worldwide. After an 11-day visit to Colombia, the body estimated that more than 10,000 citizens — nearly all former military and police personnel — have been recruited abroad over the past decade, with offers ranging from $2,000 to $6,000 per month.

“The proliferation of conflicts in the world has increased demand and, consequently, supply. There is a very diversified demand, and Colombians are filling it,” said expert Joana de Deus Pereira at a press conference in Bogotá, specifically citing the Middle East escalation, the war in Sudan, and Russia’s invasion of Ukraine.

Group chair Michelle Small explained that former Colombian military personnel are highly sought after in the global market. “After the demobilization processes of the FARC and paramilitaries, Colombia found itself with a large number of people trained for combat entering civilian life,” she stated. The primary motivation is economic, with salaries far exceeding military pensions in Colombia. Offers come from private security companies, national armies, and paramilitary organizations.

Much of the recruitment takes place through social media. Platforms such as Facebook, Instagram, Telegram, TikTok, and WhatsApp serve as common channels due to their accessibility and the difficulty of tracking them. The delegation also warned of growing predatory or deceptive recruitment, with companies paying far less than advertised or using fake job contracts. “This type of recruitment can constitute labor exploitation and human trafficking,” Small noted.

During the group’s visit, which ran from March 16 to 27, the Colombian government signed Law 2569, ratifying the international convention on the use of mercenaries and seeking to prohibit their recruitment and financing. The legislation had been approved by Congress in December and required President Gustavo Petro’s signature to take effect.

However, the group’s preliminary report identified gaps in state oversight. The experts pointed to “limited financial and human resources, along with weak supervision and a lack of presence in remote areas” within the Superintendency of Private Security and Surveillance. Colombia has approximately 1,300 private security companies with over 400,000 employees, not counting informal firms that evade all oversight. They also flagged more than 60,000 unlicensed weapons in circulation.

The group expressed concern for over 600 families actively seeking news of relatives recruited as mercenaries or volunteers in foreign wars. Many report deaths, disappearances, or kidnappings, and the Colombian government has faced significant difficulties obtaining information through diplomatic channels. Body repatriation remains exceptional, as most are never located or remain buried in foreign territory.

The group will present its final conclusions to the UN Human Rights Council in September.