The Trump administration has revoked the visa of Brazil's Ambassador to the US, Maria Luiza Ribeiro Viotti, marking a severe escalation in diplomatic tensions that is now compounding the political risk premium priced into the Brazilian Real and US-listed Brazilian assets. The move, announced Tuesday, is explicit retaliation for Brazil’s refusal to grant formal diplomatic approval (*agrement*) to Washington’s nominee for US Ambassador to Brasília, Florida House Speaker Daniel Perez, and for Brazil's earlier denial of visas to two American diplomats. The tit-for-tat measures formally embed geopolitical uncertainty into Brazil’s financial landscape just two months before the highly contested October 4 presidential election.