Brazil

Global sanctions guide

Bermuda
British Virgin Islands
  1. Does Brazil have a sanctions regime in place?

Most sanctions established by international bodies are implemented in Brazil (according to constitutional rules) and, once implemented, they must be complied with by any individual or entity within Brazil.

  1. Does Brazil implement UN sanctions?

Yes.

  1. Does Brazil implement an autonomous sanctions regime?

No autonomous sanctions regime is implemented by Brazil, but Brazilian penal code and legislation establish several sanctions to be observed by Brazilian individuals and entities.

  1. What is the nature of the sanctions regime in Brazil?

International resolutions, including the ones establishing sanctions, do not have direct effect in Brazil; they must be incorporated into Brazilian legislation through presidential decree and legislative acts in certain circumstances, and regulated by the competent state body. The most frequently applied measures under Brazilian legislation are embargoes and travel bans on named individuals and bans on imports and export of raw materials and goods. Although existing, financial sanctions such as assets freezing can only be enforced by court order.

  1. Does Brazil maintain a list of sanctioned individuals and entities?

The lists of sanctioned individuals and entities maintained by Brazil are the ones contained in the UNSC resolutions which have been incorporated into Brazilian legislation by Presidential decrees. These decrees are put together by the Brazilian Central Bank.

  1. Are there any other lists related to sanctions?

There are lists of, for example, entities prevented from participating in public bids.

  1. Does Brazil have a licensing or authorisation system in place?

No, Brazil does not provide special licences or authorizations to exempt entities or individuals from sanctions.

  1. What are the consequences for a breach of sanctions in Brazil?

Some conduct can be considered crimes under the Brazilian penal code and/ or specific legislation (eg: smuggling, financial crimes).

  1. Who are the relevant regulators in Brazil and what are their contact details?

In Brazil there is no specific governmental body that has overall responsibility for the policy on sanctions. Depending on the sanction matter the following regulators apply:

The Ministry of Development, Industry and Foreign Trade is responsible for applying trade sanctions, such as bans and export licences.

EQN 102/103, Lote 01, Asa Norte, CEP: 70722-400, Brasília DF, Brazil

T: +55 61 2027 9217

The Ministry of Finance is responsible, together with the Brazilian Central Bank (“BCB”), for implementing and administering financial sanctions in Brazil. This work is carried out by the Council for Financial Activities Control (“COAF”) and by the Department of Assets Recovery and International Legal Co-operation (“DRCI”); however freezing of financial and other assets can only be determined by judicial decision.

Department of Assets Recovery and International Legal Co-operation, SCN Quadry 6 Conjunto A Bloco A 2º andar, Ed. Venâncio 3000, Asa Norte, CEP: 70716-900, Brazil

T: +55 61 2025 8919

E: cooperacaocivil@mj.gov.br

Council for Financial Activities Control, SAUS Qd 1 Lote 3-A CEP: 70070-010, Brasilia Brazil

T: +55 61 2025 4001, +55 61 2025 4002

E: coaf@fazenda.gov.br

Contributor law firm

Isabela Faria, L.O Baptista Schmidt, Valois, Miranda, Ferreira, Agel Rua da Assembléia, 66 17º CEP: 20011-000, Rio de Janeiro RJ Brasi