Secondary sanctions’ implications and the transatlantic relationship
By
Samantha Sultoon & Justine Walker
The term secondary sanctions provokes strong reactions from allies and markets. Due to the power of the US dollar, breadth of the US market, and dominance of the US financial system, even the threat of secondary sanctions prompts many non-US companies to change their behavior to avoid the risk of such sanctions. Although this approach has furthered US policies, it has resulted in transatlantic political divergence and enhanced compliance uncertainty among private sector actors.
