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
Even if a company does not do any business in the US they still need to use banking services, and pretty much all large banks do business in the US so they will not work with that company for fear of fines which will make it significantly more difficult for that company to do business even if they can’t get fined. Commerzbank was fined for exactly this case as they facilitated other companies working in sanctioned countries.
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