[…] The US, however, regularly uses the dollar to sanction any economic activity that it regards as a threat to its foreign-policy interests, even in the short term. The French bank BNP Paribas, for example, has been fined $9 billion by the US Department of Justice for violating US embargoes against Cuba, Sudan, and Iran. […]
project-syndicate.org | The Dollar Goes to War. To many observers, America’s “weaponization” of the dollar against China, the European Union, and others looks like yet another example of President Donald Trump abusing his power. The question is whether anyone can – or will – do anything about it.