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Brasília Off the Record: the Search for Solutions to the Effects of Magnitsky

Summary by Bloomberg
Brazilian banks, including Banco do Brasil, have formed working groups to determine how to address potential impacts of the Magnitsky Act on their businesses. For now, the understanding remains that Supreme Court Justice Alexandre de Moraes is the target of the law's sanctions, but not the banks where he has accounts. The judge is prohibited from carrying out dollar transactions, for example, in banks where he has accounts.

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Brazilian banks, including Banco do Brasil, have formed working groups to determine how to address potential impacts of the Magnitsky Act on their businesses. For now, the understanding remains that Supreme Court Justice Alexandre de Moraes is the target of the law's sanctions, but not the banks where he has accounts. The judge is prohibited from carrying out dollar transactions, for example, in banks where he has accounts.

·United States
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Institutions start blocking Moraes operations; the view is that restrictions are limited

·Brazil
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Locking your credit card was through the Magnitsky Act

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Jornal do Comércio broke the news in on Friday, August 22, 2025.
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