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The US is exploiting its centrality in the international financial system, though. No other country uses secondary sanctions so extensively to dictate to other
by DiogenesKynikos 6y ago
The US is exploiting its centrality in the international financial system, though. No other country uses secondary sanctions so extensively to dictate to other countries who they may and may not trade with.
When the US pulled out of the Iran nuclear deal, for example, it essentially ordered European companies not to trade with Iran. Even European companies that have no business in the US are afraid to do business with Iran, because American secondary sanctions will still hit them. No European bank will lend to a European company that does business with Iran, out of fear of American sanctions.
These sorts of actions will eventually provoke a reaction: either the establishment of alternate financial systems or retaliatory sanctions.