How does the US fine foreign companies for trading with sanctioned countries, when said companies have no link with the US?

Question

Hi there,

So i was going through our industry and company course, and today I learnt that the US state can fine companies (as it did to commerzbank) for carrying out activities, deals and projects in sanctioned countries? How can a state fine a companion from another country for its business dealings?

In: Economics

Answer 1

If you want to clear USD which most global companies do then you better not trade with sensitive sanctioned countries, entities, individuals or vessels.

The reality is counties like China couldn’t give a shit about list based US Sanctions.