Investigations reveal political pressure in Brazil and state energy acquisitions in Portugal

Messages seized by the Brazilian Federal Police during an investigation into Banco Master reveal that Flávio Bolsonaro and Neymar da Silva Santos, father of footballer Neymar Jr., pressured banker Daniel Vorcaro for the release of funds. According to the records, lobbyist Thiago Miranda informed Vorcaro in February 2025 that he was being pressured by both individuals to resolve negotiations regarding the film ‘Dark Horse’—a propaganda project for Jair Bolsonaro’s political trajectory—and a commercial partnership involving Santos Futebol Clube.

In Portugal, Finance Minister Joaquim Miranda Sarmento justified the state's purchase of a 13.7% stake in REN from Pontegadea Inversiones, the investment firm owned by Zara founder Amancio Ortega. The minister explained that the government bypassed the stock market to negotiate directly with the major shareholder to facilitate the goal of reaching a 20% ownership stake in the company responsible for electricity and gas supply. The transaction was completed for 389.8 million euros, with the Spanish group agreeing to the sale due to the geopolitical and state interests involved.