The US makes heavy use of secondary sanctions to coerce foreign companies and governments into restricting business with America's "enemies." The US has levera

The US makes heavy use of secondary sanctions to coerce foreign companies and governments into restricting business with America's "enemies." The US has leverage to do this, because much of the world's financial transactions run through the US financial system, and much of the world's financial industry has significant exposure to the US. If ASML shrugs off the US government's demands, it will quickly find itself shut off from every major bank, and every supplier who wants to avoid the same fate will cut off its business with ASML. In the specific case of ASML, however, the US also has a Cold-War-era agreement with the Netherlands on transfer of technology to other countries.[0-1] 0. https://en.wikipedia.org/wiki/Wassenaar_Arrangement https://en.wikipedia.org/wiki/Wassenaar_Arrangement 1. https://www.reuters.com/technology/amid-us-pressure-dutch-announce-new-chip-equipment-export-rules-2023-06-30/ https://www.reuters.com/technology/amid-us-pressure-dutch-an...