The bill stipulates that domestic companies may not carry out directives issued exclusively by foreign authorities if they contradict Brazilian law, the news portal noted.

The proposal would also prevent foreign sanctions from triggering the freezing of assets located in Brazil without authorization from a competent national authority.

Measures that would be neutralized include secondary economic sanctions and restrictions on trade, investment, financing, and the provision of services authorized under Brazilian law.

Furthermore, companies operating in the country would be prohibited from terminating contracts, suspending the supply of goods or services, closing bank accounts, denying credit, blocking payments, or restricting access to platforms, technological systems, or digital services solely to comply with a foreign sanction.

The text provides for fines for companies that fail to comply with these provisions, ranging from 0.1% to 20% of the economic group’s gross revenue—up to a cap of 500 million reais—in addition to the potential termination of public contracts.

The authors maintain that the proposal aims to safeguard Brazil’s economic sovereignty and the authority of national regulators over activities carried out within the country’s territory.

However, the initiative establishes exceptions for international obligations assumed by Brazil and decisions adopted by the United Nations Security Council.

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