Brazil banking sanctions, Lula Supreme Court decision, international financial compliance
Absolutely bizarre in Brazil:
Lula’s ex Justice Minister (who he put on the Supreme Court) barred Brazil’s banks from honoring US sanctions by (for instance) closing Moraes’ accounts.
But if they do, they will be blocked from world banking systems and barred from business…
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— Glenn Greenwald (@ggreenwald) August 18, 2025
Absolutely bizarre in Brazil:
The political landscape in Brazil has taken an unexpected turn that has many scratching their heads. Recently, Lula’s ex Justice Minister, who he appointed to the Supreme Court, made a surprising decision—barred Brazil’s banks from honoring US sanctions. This move raises questions about the implications for Brazilian financial institutions and their relationship with international banking.
Lula’s ex Justice Minister (who he put on the Supreme Court) barred Brazil’s banks from honoring US sanctions by (for instance) closing Moraes’ accounts.
This directive places Brazilian banks in a precarious position. On one hand, they are expected to comply with domestic regulations; on the other, they risk severe consequences from international authorities. If these banks choose to follow the sanctions and close accounts related to Moraes, they could find themselves blocked from world banking systems and barred from business. Such a dilemma highlights the tension between national and international law.
But if they do, they will be blocked from world banking systems and barred from business…
The ramifications of this decision are significant. Brazilian banks could face a loss of credibility and access to global markets, which could have a ripple effect on the economy. It’s a classic case of political maneuvering that could have unintended consequences for the broader financial community.
As this situation unfolds, it will be interesting to see how Brazil’s banking sector navigates these complex waters. Will they comply with the sanctions or risk their place in the global financial system? Keep an eye on developments, as this story continues to evolve. If you’re interested in more details, you can check out Glenn Greenwald’s original tweet for further insights.