> Shares of Brazilian financial companies tumbled amid growing fears about the impacts from the US Magnitsky law sanctions on local lenders.
> Some of the largest Brazilian banks are concluding that the US sanctions against Justice Alexandre de Moraes apply only to his dollar-based accounts, limiting their potential impact on the country’s financial system
> "Brazil appears poised to intensify its confrontation with the United States" following the Supreme Court’s ruling, which has led to sharp declines in Brazilian stocks, especially those in the banking sector
SilverElfin · 2h ago
Maybe this is the only way to encourage defense of free speech and fair politics in other countries.
bn-l · 2h ago
I’m amazed at how much power he has but it’s probably inevitable that the banks will fold.
> Some of the largest Brazilian banks are concluding that the US sanctions against Justice Alexandre de Moraes apply only to his dollar-based accounts, limiting their potential impact on the country’s financial system
> "Brazil appears poised to intensify its confrontation with the United States" following the Supreme Court’s ruling, which has led to sharp declines in Brazilian stocks, especially those in the banking sector