Brazilian former president sentenced to 9 years and half in prison

BRASILIA, July 12 (Xinhua) — Former Brazilian President Luiz Inacio Lula da Silva was sentenced to nine years and six months in prison for his involvement in a corruption ring that embezzled billions of U.S. dollars from state oil company Petrobras Brasileiro, official sources said on Wednesday.

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Brazil’s oil company Petrobras to sell assets in Paraguay

RIO DE JANEIRO, July 7 (Xinhua) — Brazil’s state-owned oil company Petrobras announced Friday it will sell all its assets in Paraguay, as part of its plan to divest assets worth 21 billion U.S. dollars in 2017 and 2018 to try to lower its high debt.

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