Europe Under Fire from US Secondary Sanctions

... standing in the global financial system. The dollar’s dominance in world financial transactions enables the US authorities to monitor a huge number of financial transactions, identify breaches of US sanctions programmes, and punish violators with secondary sanctions. Secondary sanctions target companies, states, or individuals that do business with sanctioned countries, organizations, or individuals. ‘Sanctions for violating sanctions’ are used against US citizens and companies, as US laws ...