Sanctions architecture

Modern financial sanctions aren't a separate enforcement system. They're a feature of the dollar-clearing infrastructure — which is why they reach so far. Every cross-border dollar transaction touches a US bank, which makes US sanctions globally enforceable in a way no other country's are.

You may never see a sanction directly. You will see the consequences: energy prices, exchange rates, the speed at which a war ends or doesn't. The sanctions architecture is invisible plumbing with very loud effects.

1 · US bans US persons from dealing

primary

2 · US correspondents pull access

transmission

3 · Non-US bank chooses

exit sanctioned counterparty

4 · Sanctioned entity isolated

globally