The minister, (Supreme Federal Court), had an American flag card blocked by at least one bank in Brazil since the imposition of by the government of.
In return, the institution offered Moraes a Brazilian Flag Card, for him to make payments in the country without the restrictions imposed by management.
The information was confirmed to Sheet In conversations reserved with a member of the Supreme, a person acting in the financial market and two near Moraes. The minister was sought by the report, but the STF’s advisory stated that he would not comment.
He said in an interview with Reuters that he expects a change in US president by diplomatic.
Blocking the American Flag Card is the largest known measure to date against the minister as a result of the inclusion of his name on the list of punished in. The standard imposes financial sanctions, such as freezing goods and prohibition of business with US citizens and companies, to foreigners accused of corruption or serious human rights violations.
At the end of July, Moraes became the first Brazilian authority to be the target of the measure. Trump’s Secretary of State, Marco Rubio, justified the action by saying that “serious human rights abuses” by the STF minister, citing “unfair preventive arrests,” silencing political critics and account blocking orders on digital platforms.
The Moraes card block was made before the STF minister Flávio Dino decides on Monday (18) in an action on the tragedy of Mariana (MG), which.
The use of American flags such as Visa, Mastercard, Diners and American Express would fit into sanctions because magnitsky law imposes restrictions on relations between companies in the country and the targets of the norm.
In the evaluation of market analysts, Elo would be less vulnerable to concentrating its operations in Brazil. The company belongs to Banco do Brasil, Bradesco and Caixa.
Card companies are responsible for intermediating sales operations, but those who evaluate customer eligibility, issue the card and manage the relationship are banks.
Market operators evaluate that the application of measures provided for in Magsky Law in relation to Moraes can harden over time. One of the set scenarios provides that the US Treasury Department’s OFAC (OFAC) may determine the increase in Moraes restrictions.
If the institutions do not block, they evaluate, the US government may apply fines or even prevent these companies in the US.
Dino’s decision created more uncertainties in the sector. The minister stated that “foreign laws, administrative acts, executive orders and similar diplomas do not have effects on […] natural people by acts in Brazilian territory “.
“[A violação à decisão] It is an offense to national sovereignty, public order and morals, therefore the ineffectiveness of such laws, acts and sentences emanating from a foreign country is presumed, “the minister says.
In the assessment of financial market agent, the decision generates a difficult controversy: if banks are prevented by the Supreme from applying sanctions against Moraes, they will suffer penalties in the United States.
Appeal to diplomatic
In the interview with Reuters, Moraes ruled out for now to challenge in American court his inclusion in the magnitsky law.
“A judicial challenge is fully possible [nos Estados Unidos] And so far I have not found any Brazilian or American teacher or lawyer who thinks justice would not reverse. But right now, I wait – and it was my option to wait – the diplomatic issue of the country, Brazil and the United States, “said Moraes.
He stated that the measure has little changed his routine and said he knows from internal divisions in the US government that delayed sanctions and can still weaken them.
“There was a reluctance to the Secretariat of State and a great reluctance in the Treasury Secretariat. So, from this, with the most correct information, I believe that both departments will get to the president [Donald Trump] For this purpose, “he said, without detailing or explaining how he obtained this information.
The minister also stated in the interview that decisions of courts and foreign governments can only have an effect in Brazil after validation through a domestic process. According to him, therefore, it is not possible to confiscate goods, freeze funds or block properties of Brazilian citizens without following these legal procedures.
“This deviation of purpose in law enforcement even puts financial institutions in a difficult situation. And it’s not only Brazilian financial institutions, but they are their US partners, they are US companies operating in Brazil and also have accounts, investments, financing from Brazilian banks,” he added.
