Latest news with #Moraes
AsiaOne
3 hours ago
- Business
- AsiaOne
Brazilian banks scramble to understand scope of US sanctions on Supreme Court justice, World News
BRASILIA — Brazilian banks are scrambling to assess the domestic fallout from sweeping US sanctions against a Supreme Court justice who oversees a criminal trial against an ally of President Donald Trump, as legal teams weigh how the move to isolate the judge financially could ripple through Brazil's financial system. Justice Alexandre de Moraes is presiding over the trial of former President Jair Bolsonaro, a far-right leader who is accused of plotting a coup to overturn his 2022 electoral loss. Bolsonaro has denied attempting to overthrow the government, but said he attended meetings aimed at reversing the vote. Trump, who has called the trial a "witch hunt" and revoked Moraes' US visa, on Wednesday (July 30) sanctioned the justice under the Global Magnitsky Act, accusing him of authorising arbitrary detentions and suppressing free speech. The act allows the US to impose economic penalties against foreigners it considers to have a record of corruption or human rights abuses. The US sanctions were accompanied by an executive order imposing steeper tariffs on Brazilian goods that also cited the case against Bolsonaro. Sanctions under the Magnitsky Act freeze assets under US jurisdiction and bar US firms from doing business with designated individuals. While Moraes holds no assets in the United States, according to Brazil's Supreme Court, the sanctions could prevent him from using payment cards backed by US financial companies such as Visa and Mastercard. The global reach of the US financial system often leads foreign banks to restrict a wider range of transactions by sanctioned individuals to avoid secondary sanctions, raising questions of how far Brazilian financial institutions need to go to comply with the new orders. Bradesco CEO Marcelo Noronha told analysts on Thursday the bank was awaiting legal opinions from law firms it hired to assess the sanctions' reach. A source at another top-five bank in Brazil said its initial view is that domestic operations are unaffected, but international and foreign exchange transactions could breach US rules. "So far, the consensus is that the safest ground is limited to transactions in local currency," the source said on condition of anonymity because the bank's analysis is private. Brazil's central bank did not immediately comment on whether it had issued guidance to financial institutions on the matter. Eduardo Bolsonaro, the former president's son and a lawmaker who is in the US lobbying for his father and for amnesty for rioters who stormed government buildings following the election loss, praised the sanctions online, saying the cost of supporting Moraes "will be unbearable" and would be closely monitored by US authorities. President Luiz Inacio Lula da Silva condemned the sanctions as unacceptable interference in Brazil's judiciary, while Vice President Geraldo Alckmin said that the Magnitsky Act should not punish judges for doing their job. In a statement on Wednesday, Brazil's Supreme Court said it "will not deviate from its role of upholding the constitution and the country's laws." On Wednesday night, Moraes was seen waving and smiling to fans at a football match. A picture of him making a rude gesture during the match circulated widely on social media and the local press. [[nid:720809]]
Saudi Gazette
17 hours ago
- Business
- Saudi Gazette
Trump hits Brazil with 50% tariffs and sanctions judge in Bolsonaro case
SAO PAULO — US officials said on Wednesday that they will sanction Brazilian Supreme Court judge Alexandre de Moraes, accusing him of authorising "arbitrary pre-trial detentions" and suppressing "freedom of expression". Judge Moraes has been leading the investigation into allegations that Brazil's former right-wing President Jair Bolsonaro and his allies plotted a coup after he lost the 2022 election. Bolsonaro has denied those allegations and has called Judge Moraes a "dictator". Shortly after the sanctions were announced, US President Donald Trump signed an executive order that raised tariffs on Brazil to 50%. Brazilian President Luiz Inacio Lula da Silva said Brazil was willing to negotiate with the US on trade, but called sanctions targeting de Moraes an "unacceptable" interference in the country's justice system. He said on X that Brazil had accumulated "a significant trade deficit in goods and services with the United States over the past few decades" and that the measures undermine "national sovereignty and the historical relationship between the two countries".Trump had threatened to impose the steep tariffs earlier this month in a letter he shared on social media to it, Trump accused Brazil of "attacks" on US tech companies and of conducting a "witch hunt" against executive order on tariffs excludes several of Brazil's major exports from the steep taxes, including orange juice, some aircraft parts and energy order also ties the tariffs directly to Brazil's "politically motivated persecution, intimidation, harassment, censorship and prosecution" of has threatened to match any tariff imposed by the US is Brazil's second-largest trade partner after China, so the hike would hit the South American nation is the US's 15th largest trading partner and among its main imports from the US are mineral fuels, aircraft and its part, the US imports gas and petroleum, iron, and coffee from announcing the sanctions against Judge Moraes on Wednesday, US Secretary of the Treasury Scott Bessent accused Moraes of carrying out "an unlawful witch hunt against US and Brazilian citizens and companies."Bessent added that the judge is "responsible for an oppressive campaign of censorship, arbitrary detentions that violate human rights, and politicized prosecutions – including against former President Jair Bolsonaro"."Today's action makes clear that Treasury will continue to hold accountable those who threaten US interests and the freedoms of our citizens," he BBC has reached out to Judge Moraes for addition to leading the investigation into Bolsonaro, Judge Moraes had previously ordered some social media accounts, including American ones, to be shut down for publishing US president's company Trump Media, which operates his Truth Social platform, is among the US tech companies fighting Brazilian court rulings over orders suspending social media country had also briefly banned Elon Musk's X, formerly known as Twitter, after the platform refused to shut down accounts that were deemed by Brazil to be spreading misinformation about the 2022 Brazilian presidential month, Brazil's Supreme Court ruled that social media companies can be held responsible for content posted on their latest sanctions mark a new escalation in an increasingly tense relationship between Brazil and the US under Trump's second Trump's first term, the US president and former Brazilian president Bolsonaro enjoyed a friendly relationship when their presidencies overlapped, and the two had met at the White House in men subsequently lost presidential elections and both refused to publicly acknowledge who governed Brazil between 2019 and 2022, is standing trial for allegedly attempting a coup with thousands of his supporters storming government buildings in the capital in January 2023 after Lula was victorious in the Moraes has imposed a raft of pre-trial restrictions on Bolsonaro, including a night-time and weekend curfew and 24-hour surveillance to prevent him from fleeing the has also been ordered to refrain from contacting foreign governments and their embassies in Brazil, and to wear an ankle in July, Trump compared Bolsonaro's prosecution to the legal cases he has similarly faced."This is nothing more, or less, than an attack on a Political Opponent - Something I know much about!" Trump had said. In response, Bolsonaro thanked the US president for his support. — BBC
Iraqi News
20 hours ago
- Business
- Iraqi News
Trump punishes Brazil with tariffs, sanctions over trial of ally Bolsonaro
Washington – President Donald Trump ordered massive tariffs on Brazil Wednesday and sanctions against the judge overseeing a trial of his far-right ally Jair Bolsonaro, who is accused of attempting a coup in Latin America's biggest economy. The announcement saw Trump make good on a threat to wield American economic might to punish Brazil — and Supreme Court Justice Alexandre de Moraes in particular — for what he has termed a 'witch hunt' against former president Bolsonaro. Unlike the tariffs Trump is slapping on economies around the world, the measures against Brazil have been framed in openly political terms, sweeping aside centuries-old trade ties and a surplus that Brasilia put at $284 million last year. The moves dramatically increased the pressure on Moraes, who has emerged as one of the most powerful and polarizing people in Brazil — and a consistent thorn in the far-right's side, after clashing repeatedly with Bolsonaro and others over disinformation. The Brazilian government's 'politically motivated persecution, intimidation, harassment, censorship, and prosecution of (Bolsonaro) and thousands of his supporters are serious human rights abuses that have undermined the rule of law in Brazil,' the White House said in a fact sheet announcing the tariffs. It also cited Brazil's 'unusual and extraordinary policies and actions harming U.S. companies, the free speech rights of U.S. persons, U.S. foreign policy, and the U.S. economy,' and singled out Moraes by name. It did not state what date the tariffs would come into effect, but Trump had previously cited August 1. The new duties were announced shortly after the US Treasury slapped sanctions on Moraes, which followed a similar move by the State Department earlier this month. The sanctions provoked a swift and furious response from Brasilia, where Attorney General Jorge Messias slammed them as 'arbitrary,' 'unjustifiable' and 'a serious attack on the sovereignty of our country.' There was no immediate reaction from Brasilia to the tariffs announcement, but President Luiz Inacio Lula da Silva had earlier denounced Trump's threats as 'unacceptable blackmail.' Bolsonaro is on trial for allegedly plotting a coup to stay in power after losing the 2022 election to leftist Lula. He risks up to 40 years in prison if convicted. Prosecutors say the plot included a plan to arrest and even assassinate Lula, his vice president Geraldo Alckmin, and Moraes. Brazil has insisted it will proceed in its prosecution of Bolsonaro, and Trump's intervention in the case has so far improved Lula's popularity, as the Brazilian leader appeals for national unity in the face of US 'interference.' – 'Witch hunt' – Both Marco Rubio, America's top diplomat, and US Treasury Secretary Scott Bessent issued statements Wednesday announcing the new sanctions against Moraes. 'Moraes has taken it upon himself to be judge and jury in an unlawful witch hunt against US and Brazilian citizens and companies,' Bessent said. Rubio, the secretary of state, accused Moraes of 'serious human rights abuses, including arbitrary detention involving flagrant denials of fair trial guarantees and infringing on the freedom of expression.' Moraes, 56, has played a controversial role in fighting disinformation. He was an omnipresent figure during the polarizing 2022 election campaign, aggressively using his rulings to fight election disinformation on social media. That included blocking the accounts of some prominent conservative figures. Last year, he ordered the shutdown of tech titan Elon Musk's X network in Brazil for 40 days for failing to tackle the spread of disinformation shared mainly by Bolsonaro backers. Bolsonaro has called Moraes a dictator, while his son Eduardo, an MP, had lobbied for US sanctions against the 'totalitarian' judge. On Wednesday Eduardo Bolsonaro said the US action was 'not about revenge, it's about justice.' 'Abuses of authority now have global consequences,' he wrote on X. Trump's private media company has also sued Moraes over his social media-related orders. The US Treasury cited the Magnitsky Act for the sanctions. It freezes US-based assets and bars travel to the country for foreign officials accused of human rights abuses or corruption.
Int'l Business Times
a day ago
- Business
- Int'l Business Times
Trump Punishes Brazil With Tariffs, Sanctions Over Trial Of Ally Bolsonaro
President Donald Trump ordered massive tariffs on Brazil Wednesday and sanctions against the judge overseeing a trial of his far-right ally Jair Bolsonaro, who is accused of attempting a coup in Latin America's biggest economy. The announcement saw Trump make good on a threat to wield American economic might to punish Brazil -- and Supreme Court Justice Alexandre de Moraes in particular -- for what he has termed a "witch hunt" against former president Bolsonaro. Unlike the tariffs Trump is slapping on economies around the world, the measures against Brazil have been framed in openly political terms, sweeping aside centuries-old trade ties and a surplus that Brasilia put at $284 million last year. The moves dramatically increased the pressure on Moraes, who has emerged as one of the most powerful and polarizing people in Brazil -- and a consistent thorn in the far-right's side, after clashing repeatedly with Bolsonaro and others over disinformation. The Brazilian government's "politically motivated persecution, intimidation, harassment, censorship, and prosecution of (Bolsonaro) and thousands of his supporters are serious human rights abuses that have undermined the rule of law in Brazil," the White House said in a fact sheet announcing the tariffs. It also cited Brazil's "unusual and extraordinary policies and actions harming U.S. companies, the free speech rights of U.S. persons, U.S. foreign policy, and the U.S. economy," and singled out Moraes by name. It did not state what date the tariffs would come into effect, but Trump had previously cited August 1. The new duties were announced shortly after the US Treasury slapped sanctions on Moraes, which followed a similar move by the State Department earlier this month. The sanctions provoked a swift and furious response from Brasilia, where Attorney General Jorge Messias slammed them as "arbitrary," "unjustifiable" and "a serious attack on the sovereignty of our country." There was no immediate reaction from Brasilia to the tariffs announcement, but President Luiz Inacio Lula da Silva had earlier denounced Trump's threats as "unacceptable blackmail." Bolsonaro is on trial for allegedly plotting a coup to stay in power after losing the 2022 election to leftist Lula. He risks up to 40 years in prison if convicted. Prosecutors say the plot included a plan to arrest and even assassinate Lula, his vice president Geraldo Alckmin, and Moraes. Brazil has insisted it will proceed in its prosecution of Bolsonaro, and Trump's intervention in the case has so far improved Lula's popularity, as the Brazilian leader appeals for national unity in the face of US "interference." Both Marco Rubio, America's top diplomat, and US Treasury Secretary Scott Bessent issued statements Wednesday announcing the new sanctions against Moraes. "Moraes has taken it upon himself to be judge and jury in an unlawful witch hunt against US and Brazilian citizens and companies," Bessent said. Rubio, the secretary of state, accused Moraes of "serious human rights abuses, including arbitrary detention involving flagrant denials of fair trial guarantees and infringing on the freedom of expression." Moraes, 56, has played a controversial role in fighting disinformation. He was an omnipresent figure during the polarizing 2022 election campaign, aggressively using his rulings to fight election disinformation on social media. That included blocking the accounts of some prominent conservative figures. Last year, he ordered the shutdown of tech titan Elon Musk's X network in Brazil for 40 days for failing to tackle the spread of disinformation shared mainly by Bolsonaro backers. Bolsonaro has called Moraes a dictator, while his son Eduardo, an MP, had lobbied for US sanctions against the "totalitarian" judge. On Wednesday Eduardo Bolsonaro said the US action was "not about revenge, it's about justice." "Abuses of authority now have global consequences," he wrote on X. Trump's private media company has also sued Moraes over his social media-related orders. The US Treasury cited the Magnitsky Act for the sanctions. It freezes US-based assets and bars travel to the country for foreign officials accused of human rights abuses or corruption.
LeMonde
a day ago
- Politics
- LeMonde
US Treasury sanctions Brazilian judge overseeing Bolsonaro trial
The United States issued further financial sanctions on Wednesday, July 30, against Brazilian Supreme Court Justice Alexandre de Moraes, who is overseeing the trial of President Donald Trump's far-right ally Jair Bolsonaro. Bolsonaro, Brazil's former far-right president, is on trial for allegedly plotting a coup to cling to power after losing the 2022 election to leftist Luiz Inácio Lula da Silva. Trump has inserted himself into the trial, accusing Brazilian authorities of conducting a witch hunt. His administration has already imposed visa restrictions on Moraes over the case, and Trump announced 50% tariffs on Brazilian imports, citing, in part, the treatment of Bolsonaro. "Moraes has taken it upon himself to be judge and jury in an unlawful witch hunt against US and Brazilian citizens and companies," Treasury Secretary Scott Bessent said in a statement announcing the sanctions, which follow similar State Department action earlier this month. A US Treasury statement announcing the new sanctions accused Moraes of using "his position to authorize arbitrary pre-trial detentions and suppress freedom of expression." Moraes shut down X for 40 days Moraes has repeatedly clashed with Bolsonaro and other right-wing figures in Brazil, and has played a controversial role in fighting alleged online disinformation. Last year, he ordered the shutdown of tech titan Elon Musk's social media platform, X, in Brazil for 40 days, for failing to tackle the spread of disinformation that had mainly been shared by Bolsonaro supporters. Trump's private media company has also sued Moraes over his social media-related orders. The US Treasury cited the Magnitsky Act for the sanctions. This act freezes US-based assets and bars travel to the country for foreign officials accused of human rights abuses or corruption.
