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Sources In Washington Reveal That The U.S. Government Is Preparing Sanctions Against Banco do Brasil, New Tariffs, And Barriers To The Importation Of Russian Diesel.
The Donald Trump administration is preparing a new round of actions against Brazil that could have a significant impact on the economy. The measures, according to CNN’s investigation, could directly affect Banco do Brasil and the importation of diesel from Russia. Additionally, the U.S. contests Brazilian arguments about a 50% tariff. The situation is described as fluid, depending on a final decision from the president.
Banco do Brasil Under Scrutiny Due To Relationship With STF Minister
The sanction considered most imminent is against Banco do Brasil (BB). Based on the Magnitsky Act, the U.S. Department of the Treasury can impose economic sanctions on institutions providing services to Minister Alexandre de Moraes of the Federal Supreme Court (STF).
The justification would be the fact that BB allegedly offered a Brazilian Elo card to the minister shortly after another financial institution canceled his Mastercard. In a statement, the bank affirmed that it operates in full compliance with Brazilian laws and international standards.
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Paper money is disappearing from Brazilians’ pockets, with the issuance of new banknotes dropping by 31% from 2020 to 2025, amid the explosion of Pix, which became the most frequent payment method for 46% of the population, while cash plummeted from 42% to 22%.
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Owner of Tok&Stok and Mobly raises alert in retail, sees debt exceed R$ 1 billion and rushes to court to try to save stores, jobs, and essential operations
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China connects to the power grid the largest ultra-large battery storage station ever built in the world and signs a billion-dollar contract that consolidates a technology capable of sustaining entire cities with clean energy.
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The next few hours will be marked by increasing tension regarding the stance to be adopted by the Central Bank’s Monetary Policy Committee (Copom/BC) concerning the benchmark interest rate (Selic) at the end of this Wednesday’s (17th) meeting. Although the market is ‘divided’ on the committee’s decision, the stronger trend in recent weeks is that the rate will remain unchanged at the current level of 14.50% per year. Meanwhile, a minority faction still ‘bets’ on a 0.25 percentage point (p.p) decrease.
Precedents For Multibillion-Dollar Fines Against International Banks
The United States has a history of imposing hefty fines in such cases. The French bank BNP Paribas, for example, was ordered to pay US$ 9 billion for violating sanctions. The British bank Standard Chartered was fined three times for similar reasons, with one penalty reaching US$ 1.1 billion.
Commercial Dispute: U.S. Companies Press For 50% Tariff
A 50% tariff on Brazilian products will be the topic of a hearing in the U.S., and the Brazilian government will defend its position. However, American companies have coordinated to maintain the barrier. They claim that Brazil’s competitive advantages stem from illegal deforestation and forced labor.
The criticisms from American companies extend to Brazilian regulations on artificial intelligence, data centers, and streaming taxation. The Pix system has also come under fire, with U.S. financial institutions accusing the Central Bank of acting as a competitor.
Importation Of Russian Diesel May Also Face Sanctions
The Trump administration is also planning to act against the importation of diesel oil from Russia by Brazil. The measure, which could be implemented within a week and a half, would follow the example of India, which raised its rate from 25% to 50%. Last year, Brazil imported about US$ 12.5 billion in Russian products, primarily diesel and fertilizers.
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