The initial consensus among banks on the reach of the (Supreme Federal Court), points out that the operations in reais are not affected by the act of President Donald Trump issued on Wednesday (30). Any transaction of the minister who passes directly or indirectly through the dollar, however, is prohibited.
The use of international American flag credit or debit cards in reais operations still inspires doubts, being a point of uncertainty for banks.
Purchases of any foreign currency, which are settled in dollar by the financial institution, cannot be made by. A direct real purchase per dollar is also reached by the sanction.
The conclusions result from preliminary analysis by banks to their own legal departments and law firms in the United States and Brazil on the impact of financial sanctions on Moraes through the call, according to people along with consultations heard by Sheet as anonymity. The legislation deals with serious violations of human rights.
The measure was published on the US Treasury website, which recorded the minister’s inclusion under an OFAC sanction, a foreign asset control office.
Banks’ analysis of the US government’s decision also considered other executive orders issued in the past by former President Joe Biden and Trump himself in his first term at the White House. Some of them are generic and others prohibit any kind of banking relationship.
The preliminary understanding is that Trump’s executive order against Moraes is generic and does not expressly prohibit all kinds of banking relationship.
Thus, the transactions, whatever they may be, would not be achieved by law triggered against Moraes, including daily payments, transfers such as PIX and use of national currency credit card.
For example, a pix that the minister makes for his wife or payment of a condominium ticket. There is division, however, when the credit card is international and an American flag. Some analyzes point out that if the operation with this card is in reais there would be no problem, even if the card is international. But others point out that if the card has an American flag, such as Visa and Mastercard, this operation cannot be done.
One point pointed out by the consultants heard is that the American company itself would be concerned with accepting a transaction from a person sanctioned by the US government.
There is no individualized notification for any company and any bank. Sought, Febraban (Brazilian Federation of Banks) did not comment. In a statement, the entity says it does not comment on any specific aspects of transactions, allowed or prohibited affects the relationship with their respective customers, who are protected by bank secrecy.
As revealed the Sheet Last week, even before the announcement of the confirmation of the sanction to Moraes on Wednesday (30), banks and other financial institutions are already seeking guidance from law firms to position themselves to eventual sanctions of the government to the Brazilian financial industry.
One of the concerns on the radar is the risk of individual sanctions for banks operating in Brazil. There is also the fear of banning banking and transactions of these companies with US financial institutions, such as exchange operations.
