Private Banks Must Cut Ties With Moraes; If the Government Forces It, Banco do Brasil May Maintain Connections and Face "Individual Penalties" From the U.S.

Private Banks Must Cut Ties With Moraes; If the Government Forces It, Banco do Brasil May Maintain Connections and Face “Individual Penalties” From the U.S.

Written by Carla Teles

Published on 25/09/2025 at 20:14

Updated on 25/09/2025 at 20:15

Sanções dos EUA a Moraes colocam o Banco do Brasil em risco de penalidades. Entenda por que bancos privados devem cortar laços e qual o dilema do banco estatal.

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Expert Details That If Government Presses for Account Maintenance, Institution May Suffer “Individual Penalties” from the U.S., While Private Banks Must Cut Ties.

The extension of the Magnitsky Act sanctions to the wife and a company linked to Minister Alexandre de Moraes of the Supreme Federal Court (STF) has put the Brazilian financial system on alert. The main crossroads falls on the Banco do Brasil, which, as a mixed-economy institution controlled by the government, can be forced to maintain its business relationship with the sanctioned individuals, risking suffering “individual penalties” from the U.S. Treasury. In contrast, the expectation is that private banks will close accounts and services to protect their access to the global financial market.

The technical analysis of the impact of the measures was detailed by lawyer Davi Aragão in an interview with the Revista Oeste channel. According to him, the sanctions are not limited to the main individual but expand to the entire network that enables the movement of their wealth, a strategy from the U.S. government to prevent evasion maneuvers. This expansion creates a domino effect that financially isolates the target, forcing companies and service providers to distance themselves to avoid being sanctioned as well.

Why Were Sanctions Extended to the Family and Company?

The U.S. government’s decision to include Viviane Barce de Moraes, the minister’s wife, and the Lex Institute of Legal Studies in the sanctions was not an arbitrary act, but a technical measure provided in the Magnitsky Act. As explained by Aragão in the Revista Oeste, the legislation aims to directly target individuals accused of human rights violations or corruption but also encompasses anyone or entity that facilitates the concealment of assets. The minister’s wife was included for being the managing partner of the family holding, legally responsible for managing the assets.

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The Dilemma of Banks: The Risk for Banco do Brasil

The most immediate and practical impact of the sanctions falls on financial institutions. For Brazilian private banks, the decision tends to be purely commercial and risk management-driven. According to Davi Aragão’s analysis shared on the Revista Oeste channel, there is no law in Brazil that requires a private bank to maintain a relationship with any client. Given the risk of losing access to the vital U.S. financial market, the natural tendency is to close accounts, cancel credit cards, and halt any services provided to the sanctioned entity.

The scenario is completely different for the Banco do Brasil. As a mixed-economy company, its strategic decisions are directly influenced by the federal government, its controlling entity. If the government decides, for political reasons, that the bank must continue its relationship with Moraes and his family, the institution will be compelled to comply. However, this decision would come at a high cost. “It is a government decision, and the Banco do Brasil may suffer individual penalties from the United States for maintaining the relationship,” Aragão warned. This possibility places the state bank in a uniquely vulnerable position in the sector.

The Domino Effect: How Sanctions Isolate the Target

Many Brazilians expect an immediate result from the sanctions, but the lawyer explains that the process is slow and gradual, functioning as financial and social “suffocation”. The Magnitsky Act is designed to isolate the target over months, or even years, making them a toxic figure for any type of commercial relationship. With each expansion of sanctions, like the one that just occurred, more companies, institutions, and professionals distance themselves from the sanctioned entity to avoid the risk of being next on the U.S. Treasury’s list.

This progressive isolation goes beyond banks. Clients of the law firm of Moraes’ wife, for example, may start to terminate contracts, fearing their fee payments may be interpreted as “material support” to a sanctioned individual. Similarly, service providers and business partners will begin to avoid any association. According to the analysis from Revista Oeste, the message from the U.S. Treasury Department is unequivocal: they will continue to pursue anyone providing support to Moraes, continuously and systematically tightening the noose.

The application of the Magnitsky Act creates a clear division in the Brazilian financial market: on one side, the private banks, guided by compliance and risk logic; on the other, the Banco do Brasil, susceptible to a political decision that could be costly. The situation highlights how foreign legislation can have direct and complex impacts on the economy and institutions of the country.

Do you agree with this change? Do you think it impacts the market? Leave your opinion in the comments; we want to hear from those who experience this firsthand.

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Private Banks Must Cut Ties With Moraes; If the Government Forces It, Banco do Brasil May Maintain Connections and Face “Individual Penalties” From the U.S.

Expert Details That If Government Presses for Account Maintenance, Institution May Suffer “Individual Penalties” from the U.S., While Private Banks Must Cut Ties.

Why Were Sanctions Extended to the Family and Company?

The Dilemma of Banks: The Risk for Banco do Brasil

The Domino Effect: How Sanctions Isolate the Target

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Private Banks Must Cut Ties With Moraes; If the Government Forces It, Banco do Brasil May Maintain Connections and Face “Individual Penalties” From the U.S.

Expert Details That If Government Presses for Account Maintenance, Institution May Suffer “Individual Penalties” from the U.S., While Private Banks Must Cut Ties.

Why Were Sanctions Extended to the Family and Company?

The Dilemma of Banks: The Risk for Banco do Brasil

The Domino Effect: How Sanctions Isolate the Target

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Spain surprises the world by erecting 62 artificial dunes, mixing sand with natural remains of posidonia, and causing the structure to lose only 1.4% of its volume in 1 year.

After two years of internal discussions, Paraguay has finally regulated the law that opens the country to foreign technology and service companies with tax incentives that promise to create thousands of jobs and change the economy.

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