Paraguay’s Foreign Minister Rubén Ramírez Lezcano and Brazil’s Mauro Vieira met in Asunción on March 19, 2026, to advance the review of Annex C of the Itaipu Treaty. Ramírez reported substantial progress toward a comprehensive short-term agreement covering the full framework, including an “equation” for Itaipu Binacional, rather than focusing solely on short-term tariffs. He stressed a long-term strategic vision beyond 2027-2028. Brazil’s Minister of Mines and Energy Alexandre Silveira also participated. Both sides highlighted strong bilateral ties and cooperation. Presidents Peña and Lula were scheduled to continue discussions on March 23 in Campo Grande. The meeting signals steady advancement in renegotiating energy and financial terms after the annex’s 50-year period ended in 2023. (Word count: 238)