Extra-territorial legislation, sanctions and their deployment are set to become more contentious

Sanctions and large fines are becoming the weapon of choice for the United States and others as they seek ways to stop nations facilitating trade or financial transfers that touch countries they are engaged in a political dispute with.

The issue is becoming more acute as huge fines and restrictions placed on international banks threaten to stop what can be the quite legal free flow of funds to nations regarded as transgressors of rules relating to tax, money laundering, terrorism or international organised crime. The issues are complex as the administrative approach being adopted in some cases intentionally confuses quite proper objective concerns about illegal payments with subjective considerations based on political judgements.

Although so far not subject to the huge fines that a number of international banks are now facing,  …..To continue reading, login or subscribe now.

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