The removal of Federal Supreme Court (STF) minister Alexandre de Moraes from the list of those sanctioned by the Magnitsky Law, maintained by the United States Treasury Department, produces immediate practical effects on his financial situation, assets and international circulation.
With , all restrictions that had been imposed by the American government in recent months cease to be valid.
In practice, Moraes once again has full freedom to maintain financial assets that involve the United States banking system, operate in dollars and carry out transactions with institutions or companies subject to American jurisdiction.
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While it was designated on the Magnitsky list, any operation that went through US banks could be automatically blocked, even if carried out outside American territory, due to the centrality of the dollar in the international financial system.
The exclusion also eliminates impediments related to the possession of assets or property interests in North American territory. Magnitsky sanctions typically prohibit the acquisition, maintenance or movement of properties, investments and corporate interests that have any direct or indirect ties to the United States. With the decision, these restrictions no longer exist.
Another relevant effect is the end of circulation limitations. Remaining on the Ofac list usually leads to impediments to entry or transit on American soil, in addition to generating diplomatic embarrassment when traveling internationally, as allied countries often adopt additional protocols when dealing with people sanctioned by the US Treasury.
With the removal of his name, Moraes no longer has any formal restrictions on travel involving the United States or connections under its influence.
Punishments extended to third parties linked to the minister are also automatically terminated.
In this case, the sanctions applied to lawyer Viviane Barci de Moraes, the judge’s wife, and Lex Instituto de Estudos Jurídicas LTDA, an entity associated with the family, are no longer valid. This means the release of accounts, contracts, financial operations and any commercial relationships that were blocked or at risk of secondary sanctions.
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