Latin America Defense Monitor — June 23–28, 2026

IBOV

173,295

▲ 0.76%

IPSA

10,762

▲ 0.52%

IPC MEX

67,226

▼ 0.28%

MERVAL

3,123,411

▲ 0.88%

COLCAP

2,286.19

▲ 1.09%

BVL PERÚ

55,499.07

▲ 1.21%

USD/BRL5.17▼ 0.03%

USD/MXN17.50▼ 0.08%

USD/CLP921.85▼ 0.11%

USD/COP3,451▲ 0.40%

USD/PEN3.41▼ 0.40%

USD/ARS1,477— 0.00%

USD/UYU40.22▲ 1.83%

USD/PYG6,084▲ 1.72%

USD/BOB6.85▲ 1.98%

USD/DOP59.28▲ 2.07%

USD/CRC450.59▲ 2.01%

USD/GTQ7.62▲ 2.54%

USD/HNL26.70▲ 0.40%

USD/NIO

36.62

— 0.00%

USD/VES620.66▲ 5.79%

USD/PAB1.00— 0.00%

USD/BZD2.00— 0.00%

USD/JMD156.65▲ 0.65%

USD/TTD6.74▲ 1.49%

EUR/BRL5.88▼ 0.38%

BRENT

72.60

▼ 3.53%

WTI

69.23

▼ 3.74%

IRON ORE

161.91

— —

COPPER

6.21

▲ 2.25%

GOLD

4,096

▲ 1.63%

SILVER

59.67

▲ 2.27%

SOY

1,156

▲ 2.55%

CORN

421.75

▲ 1.69%

WHEAT

589.75

▼ 0.21%

COFFEE

261.25

▼ 9.54%

SUGAR

14.55

▲ 7.38%

ORANGE JUICE

148.60

▲ 11.44%

COTTON

76.78

▲ 4.60%

COCOA

5,217

▲ 1.12%

BEEF

245.83

▼ 4.50%

CATTLE

369.85

▼ 0.92%

LITHIUM

75.93

▼ 3.21%

PETR4

38.06

▼ 1.01%

VALE3

78.15

▼ 0.65%

ITUB4

42.24

▲ 1.30%

BBDC4

17.92

▲ 1.70%

ABEV3

16.73

▲ 2.07%

BBAS3

20.34

▲ 1.45%

B3SA3

14.92

▲ 2.12%

WEGE3

46.90

▲ 0.86%

PRIO3

53.29

▼ 1.21%

SUZB3

40.11

▼ 4.50%

RENT3

43.10

▲ 1.77%

AZZA3

18.99

▼ 4.09%

CSAN3

3.76

▲ 1.35%

RAIZ4

0.41

▼ 2.38%

PCAR3

2.28

▲ 0.89%

GMAT3

3.87

▲ 1.04%

PSSA3

53.26

▲ 1.25%

CVCB3

1.41

▼ 0.70%

POSI3

3.99

▲ 1.53%

SLCE3

13.17

▼ 0.98%

NATU3

7.98

▲ 2.05%

BRKM5

6.25

▼ 8.36%

RANI3

7.80

▲ 0.39%

CSNA3

4.73

▼ 1.87%

CMIN3

4.25

▲ 0.24%

USIM5

8.27

▼ 2.71%

GGBR4

21.42

▼ 0.09%

ENEV3

26.81

▲ 2.64%

NEOE3

33.80

— 0.00%

CPFE3

45.50

▲ 0.84%

CMIG4

10.96

▲ 1.58%

EQTL3

39.75

▲ 1.79%

LREN3

14.97

▲ 3.10%

VIVT3

34.79

▲ 0.64%

RAIL3

13.69

▲ 1.78%

KLABIN

16.96

▼ 0.53%

RAIA DROGASIL

17.35

▲ 0.87%

RDOR3

34.71

▲ 1.00%

HAPV3

10.24

▲ 1.19%

FLRY3

15.61

▲ 1.04%

SMTO3

15.04

▲ 2.24%

UGPA3

25.60

▲ 1.39%

VBBR3

29.69

▲ 1.78%

BBSE3

39.17

▲ 0.77%

BPAC11

54.66

▲ 0.66%

CURY3

35.11

▲ 1.15%

AERI3

2.08

▲ 0.48%

VIVARA

23.54

▲ 1.99%

COMPASS

24.94

▼ 2.35%

VAMOS

2.88

▲ 2.13%

SANB11

26.35

▲ 0.57%

ASAI3

8.83

▲ 2.56%

SBSP3

29.60

▲ 2.42%

WALMEX

50.86

▼ 0.51%

GMEXICO

200.00

▼ 1.48%

FEMSA

225.20

▲ 2.85%

CEMEX

21.51

▼ 0.97%

GFNORTE

182.90

▼ 1.59%

BIMBO

57.09

▲ 1.66%

TELEVISA

9.48

▼ 1.46%

AMX

23.20

▲ 0.74%

GAP

441.57

▼ 0.06%

ASUR

308.43

▼ 0.38%

OMA

245.60

▲ 0.65%

KOF

186.96

▲ 1.29%

GRUMA

283.22

▲ 0.17%

KIMBER

38.85

▲ 1.68%

SQM-B

65,950

▼ 1.64%

COPEC

5,765

▼ 0.64%

BSANTANDER

75.00

▲ 2.04%

FALABELLA

5,911

▲ 0.36%

ENELAM

82.00

▲ 0.60%

CENCOSUD

2,127

▲ 0.19%

CMPC

1,040

— 0.00%

BANCO CHILE

177.80

▲ 0.11%

LATAM AIR

26.97

▲ 3.25%

YPF

70,050

▼ 0.99%

GGAL

7,715

▲ 1.45%

PAMPA

4,973

▲ 0.25%

TXAR

682.50

▲ 1.49%

ALUAR

991.00

▲ 0.10%

TGS

9,225

▲ 1.15%

CEPU

2,274

▲ 2.29%

MIRGOR

16,075

▲ 0.16%

COME

41.38

▲ 0.88%

LOMA NEGRA

3,555

▲ 0.21%

BYMA

307.75

▲ 2.16%

TELECOM ARG

3,958

▲ 0.19%

ECOPETROL

14.72

▲ 1.87%

BANCOLOMBIA

79.27

▲ 0.48%

GRUPO AVAL

5.08

▼ 0.39%

CREDICORP

384.10

▲ 0.97%

SOUTHERN COPPER

171.26

▼ 1.99%

BUENAVENTURA

30.42

▼ 0.85%

MERCADOLIBRE

1,675

▲ 3.45%

NUBANK

13.17

▲ 5.70%

XP

16.13

▲ 2.22%

PAGSEGURO

9.07

▲ 3.78%

STONE

10.99

▲ 1.85%

GLOBANT

30.03

▲ 8.29%

TECNOGLASS

44.75

▲ 1.54%

GAP AIRPORT

252.48

▲ 0.11%

ASUR

308.43

▼ 0.38%

OMA AIRPORT

111.99

▼ 0.02%

AMX ADR

26.41

▲ 0.42%

FEMSA ADR

128.87

▲ 2.79%

CEMEX ADR

12.28

▼ 0.81%

PETROBRAS ADR

16.29

▼ 1.39%

VALE ADR

15.07

▼ 0.33%

ITAU ADR

8.23

▲ 2.49%

SANTANDER BR

5.20

▲ 0.78%

AMBEV ADR

3.23

▲ 2.87%

CSN

0.94

▼ 1.91%

GERDAU

4.15

▲ 0.24%

LATAM ADR

58.63

▲ 3.03%

BTC

59,612

▼ 0.55%

ETH

1,569

▼ 0.18%

SOL

71.30

▲ 1.26%

XRP

1.04

▼ 0.16%

BNB

551.84

▼ 0.82%

ADA

0.14

▼ 1.10%

DOGE

0.07

▼ 1.85%

AVAX

6.29

▼ 2.10%

LINK

7.23

▼ 0.76%

DOT

0.81

▼ 0.85%

LTC

42.75

▲ 1.47%

BCH

190.99

▼ 2.24%

TRX

0.32

▲ 0.74%

XLM

0.17

▼ 1.87%

HBAR

0.07

▼ 1.74%

NEAR

1.86

▼ 0.73%

ATOM

1.58

▲ 0.20%

AAVE

88.66

▼ 5.59%

SELIC

14.25%

—

EMBRAER

81.90

▲ 0.99%

EMBRAER ADR

63.75

▲ 1.51%

JBS

12.22

▲ 1.58%

JBS BDR

62.67

▲ 0.87%

MBRF3

17.10

▲ 2.70%

MBRFY

3.25

— 0.00%

INTER

5.44

▲ 3.82%

EGX

50,344

▼ 2.64%

USD/ZAR16.41▼ 0.09%

USD/NGN1,378▲ 0.08%

NIKKEI

69,361

▼ 4.15%

CSI300

4,868

▼ 3.03%

HSI

22,672

▼ 1.76%

NIFTY

24,056

▲ 0.14%

KOSPI

8,411

▼ 5.81%

JCI

5,896

▼ 1.72%

USD/JPY161.69▼ 0.04%

USD/CNY6.79▼ 0.13%

DAX

24,671

▼ 1.29%

CAC

8,385

▼ 0.55%

FTSE

10,508

▼ 0.21%

MIB

51,265

▼ 1.00%

IBEX

19,425

▼ 0.45%

STOXX

635.88

▼ 0.68%

EUR/USD1.14▲ 0.18%

GBP/USD1.32▲ 0.24%

SPX

7,354

▼ 0.05%

DJI

51,876

▼ 0.09%

NDX

29,118

▼ 1.09%

RUT

3,010

▲ 0.07%

TSX

34,980

▲ 0.37%

VIX

18.41

▼ 2.54%

USD/CAD1.42▼ 0.01%

US10Y

4.3720

▼ 0.46%

IBOV

173,295

▲ 0.76%

IPSA

10,762

▲ 0.52%

IPC MEX

67,226

▼ 0.28%

MERVAL

3,123,411

▲ 0.88%

COLCAP

2,286.19

▲ 1.09%

BVL PERÚ

55,499.07

▲ 1.21%

USD/BRL

5.17

▼ 0.03%

USD/MXN

17.50

▼ 0.08%

USD/CLP

921.85

▼ 0.11%

USD/COP

3,451

▲ 0.40%

USD/PEN

3.41

▼ 0.46%

USD/ARS

1,477

▼ 0.03%

USD/UYU

40.22

▲ 1.83%

USD/PYG

6,084

▲ 1.72%

USD/BOB

6.85

▲ 1.98%

USD/DOP

59.28

▲ 2.07%

USD/CRC

450.59

▲ 2.01%

USD/GTQ

7.62

▲ 2.54%

USD/HNL

26.70

▲ 0.40%

USD/NIO

36.62

— 0.00%

USD/VES

620.66

▲ 5.79%

USD/PAB

1.00

— 0.00%

USD/BZD

2.00

— 0.00%

USD/JMD

156.65

▲ 0.65%

USD/TTD

6.74

▲ 1.49%

EUR/BRL

5.88

▼ 0.38%

BRENT

72.60

▼ 3.53%

WTI

69.23

▼ 3.74%

IRON ORE

161.91

— —

COPPER

6.21

▲ 2.25%

GOLD

4,096

▲ 1.63%

SILVER

59.67

▲ 2.27%

SOY

1,156

▲ 2.55%

CORN

421.75

▲ 1.69%

WHEAT

589.75

▼ 0.21%

COFFEE

261.25

▼ 9.54%

SUGAR

14.55

▲ 7.38%

ORANGE JUICE

148.60

▲ 11.44%

COTTON

76.78

▲ 4.60%

COCOA

5,217

▲ 1.12%

BEEF

245.83

▼ 4.50%

CATTLE

369.85

▼ 0.92%

LITHIUM

75.93

▼ 3.21%

PETR4

38.06

▼ 1.01%

VALE3

78.15

▼ 0.65%

ITUB4

42.24

▲ 1.30%

BBDC4

17.92

▲ 1.70%

ABEV3

16.73

▲ 2.07%

BBAS3

20.34

▲ 1.45%

B3SA3

14.92

▲ 2.12%

WEGE3

46.90

▲ 0.86%

PRIO3

53.29

▼ 1.21%

SUZB3

40.11

▼ 4.50%

RENT3

43.10

▲ 1.77%

AZZA3

18.99

▼ 4.09%

CSAN3

3.76

▲ 1.35%

RAIZ4

0.41

▼ 2.38%

PCAR3

2.28

▲ 0.89%

GMAT3

3.87

▲ 1.04%

PSSA3

53.26

▲ 1.25%

CVCB3

1.41

▼ 0.70%

POSI3

3.99

▲ 1.53%

SLCE3

13.17

▼ 0.98%

NATU3

7.98

▲ 2.05%

BRKM5

6.25

▼ 8.36%

RANI3

7.80

▲ 0.39%

CSNA3

4.73

▼ 1.87%

CMIN3

4.25

▲ 0.24%

USIM5

8.27

▼ 2.71%

GGBR4

21.42

▼ 0.09%

ENEV3

26.81

▲ 2.64%

NEOE3

33.80

— 0.00%

CPFE3

45.50

▲ 0.84%

CMIG4

10.96

▲ 1.58%

EQTL3

39.75

▲ 1.79%

LREN3

14.97

▲ 3.10%

VIVT3

34.79

▲ 0.64%

RAIL3

13.69

▲ 1.78%

KLABIN

16.96

▼ 0.53%

RAIA DROGASIL

17.35

▲ 0.87%

RDOR3

34.71

▲ 1.00%

HAPV3

10.24

▲ 1.19%

FLRY3

15.61

▲ 1.04%

SMTO3

15.04

▲ 2.24%

UGPA3

25.60

▲ 1.39%

VBBR3

29.69

▲ 1.78%

BBSE3

39.17

▲ 0.77%

BPAC11

54.66

▲ 0.66%

CURY3

35.11

▲ 1.15%

AERI3

2.08

▲ 0.48%

VIVARA

23.54

▲ 1.99%

COMPASS

24.94

▼ 2.35%

VAMOS

2.88

▲ 2.13%

SANB11

26.35

▲ 0.57%

ASAI3

8.83

▲ 2.56%

SBSP3

29.60

▲ 2.42%

WALMEX

50.86

▼ 0.51%

GMEXICO

200.00

▼ 1.48%

FEMSA

225.20

▲ 2.85%

CEMEX

21.51

▼ 0.97%

GFNORTE

182.90

▼ 1.59%

BIMBO

57.09

▲ 1.66%

TELEVISA

9.48

▼ 1.46%

AMX

23.20

▲ 0.74%

GAP

441.57

▼ 0.06%

ASUR

308.43

▼ 0.38%

OMA

245.60

▲ 0.65%

KOF

186.96

▲ 1.29%

GRUMA

283.22

▲ 0.17%

KIMBER

38.85

▲ 1.68%

SQM-B

65,950

▼ 1.64%

COPEC

5,765

▼ 0.64%

BSANTANDER

75.00

▲ 2.04%

FALABELLA

5,911

▲ 0.36%

ENELAM

82.00

▲ 0.60%

CENCOSUD

2,127

▲ 0.19%

CMPC

1,040

— 0.00%

BANCO CHILE

177.80

▲ 0.11%

LATAM AIR

26.97

▲ 3.25%

YPF

70,050

▼ 0.99%

GGAL

7,715

▲ 1.45%

PAMPA

4,973

▲ 0.25%

TXAR

682.50

▲ 1.49%

ALUAR

991.00

▲ 0.10%

TGS

9,225

▲ 1.15%

CEPU

2,274

▲ 2.29%

MIRGOR

16,075

▲ 0.16%

COME

41.38

▲ 0.88%

LOMA NEGRA

3,555

▲ 0.21%

BYMA

307.75

▲ 2.16%

TELECOM ARG

3,958

▲ 0.19%

ECOPETROL

14.72

▲ 1.87%

BANCOLOMBIA

79.27

▲ 0.48%

GRUPO AVAL

5.08

▼ 0.39%

CREDICORP

384.10

▲ 0.97%

SOUTHERN COPPER

171.26

▼ 1.99%

BUENAVENTURA

30.42

▼ 0.85%

MERCADOLIBRE

1,675

▲ 3.45%

NUBANK

13.17

▲ 5.70%

XP

16.13

▲ 2.22%

PAGSEGURO

9.07

▲ 3.78%

STONE

10.99

▲ 1.85%

GLOBANT

30.03

▲ 8.29%

TECNOGLASS

44.75

▲ 1.54%

GAP AIRPORT

252.48

▲ 0.11%

ASUR

308.43

▼ 0.38%

OMA AIRPORT

111.99

▼ 0.02%

AMX ADR

26.41

▲ 0.42%

FEMSA ADR

128.87

▲ 2.79%

CEMEX ADR

12.28

▼ 0.81%

PETROBRAS ADR

16.29

▼ 1.39%

VALE ADR

15.07

▼ 0.33%

ITAU ADR

8.23

▲ 2.49%

SANTANDER BR

5.20

▲ 0.78%

AMBEV ADR

3.23

▲ 2.87%

CSN

0.94

▼ 1.91%

GERDAU

4.15

▲ 0.24%

LATAM ADR

58.63

▲ 3.03%

BTC

59,612

▼ 0.55%

ETH

1,569

▼ 0.18%

SOL

71.30

▲ 1.26%

XRP

1.04

▼ 0.16%

BNB

551.84

▼ 0.82%

ADA

0.14

▼ 1.10%

DOGE

0.07

▼ 1.85%

AVAX

6.29

▼ 2.10%

LINK

7.23

▼ 0.76%

DOT

0.81

▼ 0.85%

LTC

42.75

▲ 1.47%

BCH

190.99

▼ 2.24%

TRX

0.32

▲ 0.74%

XLM

0.17

▼ 1.87%

HBAR

0.07

▼ 1.74%

NEAR

1.86

▼ 0.73%

ATOM

1.58

▲ 0.20%

AAVE

88.66

▼ 5.59%

SELIC

14.25%

—

EMBRAER

81.90

▲ 0.99%

EMBRAER ADR

63.75

▲ 1.51%

JBS

12.22

▲ 1.58%

JBS BDR

62.67

▲ 0.87%

MBRF3

17.10

▲ 2.70%

MBRFY

3.25

— 0.00%

INTER

5.44

▲ 3.82%

EGX

50,344

▼ 2.64%

USD/ZAR

16.41

▼ 0.47%

USD/NGN

1,378

▼ 0.09%

NIKKEI

69,361

▼ 4.15%

CSI300

4,868

▼ 3.03%

HSI

22,672

▼ 1.76%

NIFTY

24,056

▲ 0.14%

KOSPI

8,411

▼ 5.81%

JCI

5,896

▼ 1.72%

USD/JPY

161.69

▼ 0.06%

USD/CNY

6.7897

▲ 0.01%

DAX

24,671

▼ 1.29%

CAC

8,385

▼ 0.55%

FTSE

10,508

▼ 0.21%

MIB

51,265

▼ 1.00%

IBEX

19,425

▼ 0.45%

STOXX

635.88

▼ 0.68%

EUR/USD

1.1390

▲ 0.11%

GBP/USD

1.3198

▲ 0.01%

SPX

7,354

▼ 0.05%

DJI

51,876

▼ 0.09%

NDX

29,118

▼ 1.09%

RUT

3,010

▲ 0.07%

TSX

34,980

▲ 0.37%

VIX

18.41

▼ 2.54%

USD/CAD

1.4194

▲ 0.03%

US10Y

4.3720

▼ 0.46%

Weekly Edition · Sunday, June 28, 2026 · Issue #16

Military operations, defense procurement, security policy, and force-posture developments across Latin America and the Caribbean

Bottom Line Up Front

The week’s verdict: This was a week of firsts and big metal. Six air forces opened South America’s largest aerial war game in the Chilean desert, Brazil floated its newest warship with the president watching, and a US carrier-era armada swung from pressure to rescue off the Venezuelan coast.

01

Six nations open Salitre 2026, and Brazil’s new fighter flies abroad for the first time. The multinational air exercise opened June 27 at Cerro Moreno air base in Antofagasta, northern Chile, gathering the air forces of Chile, Argentina, Brazil, Colombia, the United States and Paraguay. The headline: Brazil sent five of its new Saab F-39E Gripen fighters on their first-ever deployment outside Brazilian soil, flying alongside US F-16s and MQ-9 Reaper drones.

02

Brazil launches its third new-generation frigate. On June 26, with President Lula and Defense Minister José Múcio in attendance, Brazil’s navy floated the Cunha Moreira, the third of four Tamandaré-class frigates being built at the TKMS shipyard in Itajaí. The roughly $2.5 billion program — built in Brazil under German technology transfer — is now 76 percent complete, and the navy is already planning a second batch of four more ships.

03

A US military armada surges to Venezuela — this time to help, not pressure. The same Southern Command that has spent months squeezing the region pivoted hard, ordering the warships USS Fort Lauderdale and USS Billings, C-17 and C-130 transports, Marine Ospreys and Chinook helicopters from Honduras to Venezuela’s coast. President Trump suspended some sanctions and pledged $150 million, putting US forces and a US general on the ground in a country it captured 18 months ago.

What changed since Issue #15: Salitre, which sat on our watch list for weeks, is now live — and it became the showcase for Brazil’s Gripen going international. The US–Venezuela relationship took its strangest turn yet: the force that removed Maduro is now leading the rescue effort and easing the very sanctions it imposed. And Chile, fresh off the F-35 rumor, spent the week courting a very different supplier — Brazil.

▦

Force Posture — This Week’s Snapshot

Country

This Week’s Move

Direction

Counterpart

Status

Watch

Chile

Hosts Salitre 2026; six air forces deploy

→ Interop

AR/BR/CO/US/PY air forces

Opened Jun 27

Runs to Jul 12

Brazil

Sends 5 Gripen jets abroad for the first time

↑ Capability

Salitre coalition

Deployed

BVR / coalition role

Brazil

Launches 3rd Tamandaré frigate (Cunha Moreira)

↑ Capability

TKMS / Águas Azuis

Launched Jun 26

2nd batch of 4

Venezuela / US

SOUTHCOM surges ships, aircraft to the coast

→ Posture

US SOUTHCOM / Rodríguez govt

Deploying Jun 26

Sanctions relief

Chile / Brazil

Defense ministers meet; Chile eyes Brazil’s industry

→ Policy

Barros / Múcio

Met Jun 25

Next round in Brazil

United States

24th MEU deploys to Caribbean as Littoral Combat Force

→ Posture

USMC / region

1,300+ Marines

Tasking

Sources: Infodefense, Zona Militar, Defense.com, Zona Defense, Naval.com.br, Pucará, Agência Brazilian Navy de Notícias, FACh, Cooperativa, AFP. Direction key: ↑ Capability/Procurement · → Status change/Interoperability/Posture/Policy · ⚠ Risk event.

⇆

Status Changes Since Issue #15

Item

Issue #15 Status

Current Status

Source

Salitre 2026

On the watch list, due Jun 28

Opened Jun 27; Brazil’s Gripen deploys abroad

FACh / Infodefense

Brazil Tamandaré frigates

Not tracked this cycle

3rd ship launched; 2nd batch of 4 planned

Agência Brazilian Navy

US–Venezuela posture

Transition talks via shuttle diplomacy

Military surge to coast; sanctions eased

SOUTHCOM / AFP

Chile F-35 interest

Unconfirmed buyer of 11 jets

No update; Chile courts Brazil’s industry instead

Infodefense

Pacific Dagger 2026

Commandos gathering at Peldehue

Expected to run late June

Infodefense

01

Procurement & Industrial

Brazil owned the procurement week, and on two fronts at once: a new warship slid into the water in Santa Catarina, and the country’s flagship fighter program proved itself abroad in the Chilean desert. Around that, Argentina kept feeding its slow rebuild — new trucks for its radars, a fresh missile contract — and Chile went shopping with an old neighbour.

High

June 26 · Brazil

Brazil launches the Cunha Moreira, its third home-built frigate

With President Luiz Inácio Lula da Silva and Defense Minister José Múcio Monteiro looking on, Brazil’s navy launched the frigate Cunha Moreira on June 26 at the TKMS shipyard in Itajaí, in the southern state of Santa Catarina. A frigate is a mid-sized warship built to do a bit of everything — hunt submarines, fend off aircraft and missiles, and patrol vast stretches of ocean — and the Cunha Moreira is the third of four in the Tamandaré class, the centerpiece of Brazil’s plan to replace its aging fleet. Each ship runs about 107 meters long, displaces 3,500 tonnes, and carries the British Sea Ceptor air-defense missile, Brazil’s own MANSUP anti-ship missile, and an Italian Leonardo 76mm gun.

What makes the program matter beyond the hardware is where it is built. The whole class is assembled in Brazil under a technology-transfer deal with Germany, through a consortium called Águas Azuis that pairs Germany’s TKMS with Brazil’s Embraer and Atech. The roughly 13.9-billion-real program — close to $2.5 billion — is now 76 percent complete and supports some 23,000 jobs. The first ship, the Tamandaré, entered service in April; the second begins sea trials before delivery in January 2027; the fourth is still on the slipway. The navy and the government are already lining up a second batch of four more, which would double the class to eight and is widely expected to be signed after this year’s election. The fleet’s job is to guard the “Blue Amazon,” the 5.7 million square kilometers of ocean where most of Brazil’s oil and trade flow.

Med

June 25 · Chile / Brazil

Chile goes shopping in Brazil’s defense aisle

Chilean Defense Minister Fernando Barros met his Brazilian counterpart José Múcio in Santiago on June 25, and came away openly interested in buying from Brazil’s defense industry. The two agreed to work together on defense manufacturing, cybersecurity, and border control, with a follow-up meeting planned in Brazil. Barros framed it as a long game above politics — “defense is a matter of state that goes beyond ideologies and governments” — while Múcio was blunter about the appeal: “Brazil needs Chile. We were once great partners and we need to be even more so.” It is the same pitch Brazil made to Argentina weeks earlier, and plans to make to Peru in July: a regional supplier selling to neighbours who are all trying to rearm at once. Whether the warm words turn into contracts will depend, as ever, on whether Chile can find the money.

Med

Mid-June · Argentina

Argentina buys trucks for its radars and joins a US missile contract

Argentina’s slow military rebuild added a few more pieces this week. The Army opened a tender for heavy six-by-six trucks — the workhorses that haul and power its new RMF-200V radars around the country — and Argentina turned up on a fresh US contract for the AIM-120 AMRAAM, the radar-guided air-to-air missile that will arm the F-16 fighters Argentina bought from Denmark. The government also pushed through a roughly 27 percent pay raise for the armed forces, a quieter but important move: in a region where militaries struggle to keep skilled people, pay is its own kind of capability. None of these is a blockbuster on its own, but together they show a force methodically restocking after years of lean budgets.

02

Operations & Incidents

The skies over northern Chile filled with foreign fighters this week as Salitre 2026 opened — the headline operation of the period, and the stage for Brazil’s new Gripen to step onto the international scene. Out at sea and across the region, the calendar filled with multinational exercises and the quiet humanitarian work that fills the gaps between them.

High

June 27 · Chile

Salitre 2026 opens — and Brazil’s Gripen leaves home for the first time

Salitre 2026, South America’s biggest aerial war game, opened on June 27 at Cerro Moreno air base in Antofagasta and runs through July 12. Held every few years and hosted by Chile, it brings together the air forces of six nations — Chile, Argentina, Brazil, Colombia, the United States and Paraguay — to fly together under shared NATO-style procedures, with Canada, Ecuador and Uruguay sending observers. This fifth edition is the most ambitious yet, billed as “multi-domain”: the scripted scenario folds in not just air combat but space sensors and cyberattacks the crews have to fend off, mirroring how modern wars are actually fought.

The standout is Brazil. Its air force sent five Saab F-39E Gripen fighters to Salitre — the first time the new jet has ever deployed outside Brazil. The Gripen had flown in an exercise before, but only at home, where Brazil was the host; flying them into Chile and slotting them into a foreign-led coalition is a different and harder test, and a milestone for a program Brazil has spent more than a decade building. They share the flight line with a serious American contingent: F-16 fighters from the 54th Fighter Group, MQ-9 Reaper drones, and U-28A Draco surveillance planes, with a giant C-5 Super Galaxy transport flying in the support gear. Argentina sent its IA-63 Pampa III jets and a C-130 Hercules after President Milei signed a decree clearing up to 72 personnel to take part, and Paraguay’s A-29 Super Tucano made its own international debut. For the smaller air forces, exercises like this are where crews learn to operate alongside bigger partners; for Brazil, it is a showroom.

Med

June 22 onward · Panama / Peru

The region’s navies gather to plan and to talk

It was a busy week for naval diplomacy. The 32nd Inter-American Naval Conference opened June 22 in Panama, where Peru’s navy chief, Admiral Javier Bravo de Rueda, floated a new regional initiative to deepen cooperation. In parallel, Peru wrapped up the final planning for UNITAS 2026 — the longest-running naval exercise in the Americas, due to run in September across the Peruvian coast and Amazon with delegations from 24 countries. These planning conferences are the unglamorous scaffolding behind the big exercises: the meetings where navies agree who brings what and who is in charge, months before any ship sails.

Low

Mid-June · Chile / Bolivia

Chilean Hercules closes out its Bolivia food airlift

A Chilean Air Force C-130 Hercules transport wrapped up an 11-day humanitarian airlift to Bolivia, hauling more than 70 tonnes of food across multiple flights to a neighbour still recovering from the weeks of road blockades that paralyzed the country in May and June (covered in Issues #12 through #14). It is a small mission with an outsized message: in a region where militaries are most visible when they reach places no one else can, a cargo plane full of food does quiet diplomatic work that no statement can match.

03

Policy & Posture

The week’s biggest posture story was a sharp and surprising turn in the US–Venezuela relationship: the same military that has spent months pressuring Caracas swung into a large-scale support role on the Venezuelan coast, and Washington eased sanctions to let it happen. Alongside it, the US Marine Corps formally re-flagged a major unit for Caribbean duty.

High

June 26 · Venezuela / United States

US Southern Command surges to Venezuela’s coast — and eases its own sanctions

In one of the more startling reversals of the year, US Southern Command — the same body that captured Nicolas Maduro 18 months ago and has spent recent months tightening the screws on the region — ordered a large military deployment to support Venezuela, at the interim government’s formal request. General Francis Donovan sent the amphibious transport USS Fort Lauderdale and the combat ship USS Billings toward the coast, backed by C-17 and C-130 transport aircraft, Marine MV-22 Osprey tilt-rotors to survey damaged airfields, and CH-47 Chinook heavy helicopters flying in from the US base in Honduras. The Space Force is providing satellite imagery, and a US two-star general, Major General Kevin Jarrard, is on the ground in Caracas coordinating the effort.

The defense angle here is not the relief work itself but what it does to the posture map. Eighteen months after a US operation removed Venezuela’s president, American warships, transport aircraft and a US general are now operating openly inside the country with the host government’s blessing — and President Trump has temporarily suspended some sanctions and pledged $150 million to enable it. It is the deepest, most visible US military footprint in Venezuela since the capture of Maduro, and it sits awkwardly alongside the pressure campaign of recent months. Analysts quoted in the regional press were blunt about the risk: the relationship since January has rested on oil and security, and Washington has a documented habit of intense but short engagements in Latin America — the open question is what remains once the emergency, and the cameras, move on. The deployment also unfolded alongside a parallel multinational effort, with Spain’s military emergency unit, Mexico, Colombia and Chile all sending rescue teams.

Med

Late June · United States / Caribbean

The 24th Marine unit takes up Caribbean duty

The US Marine Corps confirmed that its 24th Marine Expeditionary Unit — a self-contained force of more than 1,300 Marines that can operate from ships — has deployed to the Caribbean under a new operational name, Littoral Combat Force 24. “Littoral” simply means the coastal zone where sea meets land, and the rebranding signals a force tailored for operating along contested coastlines rather than far out at sea. The move adds another standing piece to the steadily thickening US military presence in the basin, a build-up the monitor has tracked through the Venezuela and Cuba campaigns of recent months, and gives Southern Command a ready force already in the area as the Venezuela relief mission unfolds.

04

Extra-Regional Activity

The United States was everywhere this week — flying in Salitre, surging to Venezuela, re-flagging Marines for the Caribbean. Germany made a quiet but real appearance as the technology partner behind Brazil’s new frigate. China and Russia stayed silent again. Here is the breakdown.

United States

Flying, sailing, surging

Sent F-16s, MQ-9 Reaper drones, U-28A Draco surveillance planes and a C-5 Super Galaxy to Salitre 2026. Surged warships, transports, Ospreys and Chinooks to Venezuela’s coast and eased sanctions. Re-flagged the 24th Marine unit as Littoral Combat Force 24 for the Caribbean. A general is coordinating on the ground in Caracas.

China

Nothing to report

No naval visits, arms deals, or defense diplomacy in the region this week. The silence stretches on as the US fills the Caribbean with ships and aircraft and showcases its airpower in the Chilean desert — leaving little room for Beijing’s usual tools of regional influence to operate.

Russia

Nothing to report

No new arms sales, training, or shipments to Venezuela, Cuba, or Nicaragua. As Washington operates openly on the Venezuelan coast — a country Moscow long counted as a client — Russia’s absence from its old partner’s moment of crisis is its own quiet verdict on how far its regional reach has shrunk.

Germany & Others

The shipbuilder in the background

Germany’s TKMS took a bow as the technology partner behind Brazil’s newly launched frigate, alongside Sweden’s Saab — whose Gripen flew abroad for the first time at Salitre. South Korea stayed quiet this week after last week’s Haiti donation, but its FA-50 and tank campaigns continue in the background.

✦

What to Watch — June 29 – July 5, 2026

Through Jul 12

Chile — Salitre 2026 in full swing. Watch how Brazil’s Gripen performs in its first foreign coalition, whether US fifth-generation jets join the mix, and how the space and cyber elements play out.

Throughout

Venezuela — how long the US military stays, and what happens to sanctions. Whether the deployment winds down quickly or settles in, and whether the eased sanctions are extended, will reveal how much of this is relief and how much is a longer-term posture shift.

July

Peru — Brazil’s defense-industry pitch heads to Lima. After Chile and Argentina, Brazil plans a similar sales visit to Peru in July; watch whether any of the three turns warm words into a contract.

Ongoing

Brazil — signs of the Tamandaré second batch and the extra Gripen order. Both deals are reportedly ready and waiting for the post-election window; any movement would lock in years of naval and air investment.

?

Frequently Asked Questions

What is the Salitre 2026 exercise and who is taking part?

Salitre 2026 is a multinational air exercise hosted by Chile, opened June 27, 2026 at Cerro Moreno air base in Antofagasta and running through July 12. Its fifth edition gathers the air forces of Chile, Argentina, Brazil, Colombia, the United States and Paraguay, with Canada, Ecuador and Uruguay as observers. It is “multi-domain,” combining air combat with space and cyber elements. The standout participant is Brazil, which deployed five Saab F-39E Gripen fighters on their first-ever deployment outside Brazil, alongside US F-16s, MQ-9 Reaper drones and U-28A Draco surveillance aircraft.

What is the Tamandaré-class frigate Cunha Moreira?

The Cunha Moreira (F202) is the third of four Tamandaré-class frigates being built for Brazil’s navy, launched June 26, 2026 at the TKMS shipyard in Itajaí with President Lula present. Each ship is about 107 meters long, displaces 3,500 tonnes, and carries the Sea Ceptor air-defense missile, Brazil’s MANSUP anti-ship missile and a 76mm gun. The roughly 13.9-billion-real (about $2.5 billion) program is built in Brazil under German technology transfer and is now 76 percent complete. The first ship entered service in April 2026; a second batch of four more is planned.

Why did US forces deploy to Venezuela in June 2026?

US Southern Command surged forces to Venezuela on June 26, 2026 at the interim government’s formal request, led by the Department of State. The deployment included the warships USS Fort Lauderdale and USS Billings, C-17 and C-130 transports, MV-22 Osprey tilt-rotors, CH-47 Chinook helicopters from Honduras, and Space Force satellite imagery, with Major General Kevin Jarrard coordinating in Caracas. President Trump suspended some sanctions and pledged $150 million. It is the deepest visible US military presence in Venezuela since the January 2026 capture of Nicolas Maduro.

What did Chile and Brazil agree on in June 2026?

Chilean Defense Minister Fernando Barros and Brazilian Defense Minister José Múcio met in Santiago on June 25, 2026. Chile expressed interest in equipping its armed forces with Brazilian defense-industry products, and the two agreed to cooperate on defense manufacturing, cybersecurity and border control, with a follow-up meeting planned in Brazil. The meeting is part of a broader Brazilian push to sell to neighbours, including a similar approach to Argentina earlier in June and a planned visit to Peru in July.

§

Sources & Methodology

This issue draws on a sweep of Spanish- and Portuguese-language defense outlets including Infodefense, Zona Militar, Defense.com, Zona Defense, Naval.com.br, Pucará, and the Agência Brazilian Navy de Notícias, alongside primary-source institutional releases (US Southern Command, the Chilean Air Force, the Brazilian Navy and its Águas Azuis consortium, and the Argentine Ministry of Defense), plus regional and international press (Cooperativa, BioBioChile, AFP, EFE). The significance markers — High, Med, and Low — reflect our editorial judgment of each story’s operational and strategic weight, not a measure of how widely it was reported. Where a major regional event had a humanitarian trigger, we have focused on its military and force-posture dimensions rather than the disaster itself. We use a standard set of procurement stages (request for information, request for proposals, shortlist, best and final offer, contract signed, in production, delivered, operational) so readers can track where each program stands week to week.

Latin America Defense Monitor

Weekly Edition · Sunday, June 28, 2026 · By The Rio Times Defense Desk