Finance Minister Dario Durigan said he intends to talk to United States Treasury Secretary Scott Bessent about the classification of Brazilian criminal factions as terrorists by the American government. But he signaled that this conversation should not take place immediately, criticizing the lack of prior notice about the designation.
“I can call Scott Bessent at any time, I have no problem with that. But it is not up to Brazil to be in a place of vassalage, to touch the phone all the time and beg the United States”, said the minister, in an interview with the channel SBT News.
The USA announced the classification of the Primeiro Comando da Capital (PCC) and Comando Vermelho (CV) factions as terrorists on Thursday, 28. The minister reported that, since then, he has been conducting conversations with domestic companies and the market to understand the impacts of the measure, which was not previously communicated to the Brazilian government.
Durigan highlighted three risks arising from the designation: the increase in costs for banks and fintechs, which would have to review compliance measures and pass the price on to consumers; a possible ban on access to Pix by financial institutions accused of involvement in organized crime in the USA; and an increase in Brazil’s own risk, with an impact on investments.
“We are trying to combat organized crime and we would like to have the contribution of other countries, and the United States as well, and not start to scare and generate an argument that is not real, increasing the risk and cost to our economy”, he said.
The minister reported that, in the coming days, he should talk to risk rating agencies to avoid a worsening of the Brazilian rating because of the US decision. At the same time, he said he will seek to keep diplomatic channels open.
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