The Elo Card Regulation – which has 100% Brazilian flag – prevents the service to people who have any sanction or embargo on the United States. This would mean that the Supreme Court Minister Alexandre de Moraes would be barred to use it. Since July 30, Moraes, used by the US to punish foreigners.
The full section says: “Participants are forbidden to establish or maintain any customer or client or be the subject of economic or financial sanctions or imposed embargoes, administered or executed from time to time by the United States Government (including sanctions or embargoes administered by the OFAC or the United States State Department), or the United Nations Council, European Union or United States Treasury.”
During the week, the newspaper Economic value He stated that Moraes would have had due to the sanctions imposed on the basis of the magnitsky law.
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According to the newspaper, it is unclear which flag was, but Moraes would have been offered to replace an Elo Card, which does not have operations in the US. The Elo Regulation was first cited by Fernando Nakagawa, from CNN Brazil.
Sought, Elo did not respond until the publication of this article. The space is still open.
Magnitsky e Moraes
The episode shows that the sanctions of the magnitsky law are no longer abstract. Brazilian financial institutions that maintain international operations are found: to comply with STF positions, such as Dino’s decision, which rejects foreign laws automatically, or follows American rules, at risk of retaliation.
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Experts warn that the border of Banks face dilemmas between preserving contracts signed under Brazilian law or global reputation at the risk of billionaire sanctions, bank correspondent blocks and even interruption of services.
The news comes in the midst of the Federal Police investigation that points out that, as a means of pressuring the Supreme Court and Moraes not to continue with the criminal action that investigates attempted coup. The trial is scheduled to begin on September 2.
