Good afternoon,
As contemplated in the July 21st wolf of wall street, the United States has invoked the Magnitsky Act against Supreme Court Justice Alexandre de Moraes.
This is what we wrote then:
If you would like to read the full post, click here.
This is the sanctions order as issued by the Department of the Treasury:
https://home.treasury.gov/news/press-releases/sb0211
Secretary Bessent states in the order:
Brazilian markets are taking the news in stride, with the hope that punitive action by the Treasury may allow the Commerce Department to lower its proposed 50% tariffs on Brazil.
The 50% tariffs are scheduled to go into effect on Friday.