On 18 March 2021, US Secretary of State Antony Blinken issued a threat to companies that remain involved in what he called the “Russian geopolitical project”, saying they risked coming under US sanctions if they continued their work.<\/p>\n
It is unlikely any of the remaining companies constitute \u201cUS Persons\u201d under US law and, if so, the US cannot impose its so-called \u2018primary\u2019 sanctions on them because it has no jurisdiction. Instead, it claims the power to impose \u2018secondary\u2019 or \u2018extra-territorial\u2019 sanctions.<\/p>\n
These operate by giving the US Government the power to stop a company trading inside the US, for example by preventing it from opening or using US bank accounts or transacting in dollars. Secondary sanctions therefore have a powerful deterrent effect on global companies and are widely disliked by foreign governments and businesses.<\/p>\n
It remains to be seen whether Mr Blinken\u2019s words will have the desired effect, or whether the companies will simply thumb their noses at the US and carry on regardless.<\/p>\n","protected":false},"featured_media":0,"parent":0,"template":"","meta":{"site-sidebar-layout":"default","site-content-layout":"default","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"default","adv-header-id-meta":"","stick-header-meta":"default","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}}},"subject-area":[43,40],"_links":{"self":[{"href":"https:\/\/elbornes.com\/wp-json\/wp\/v2\/latest\/1839"}],"collection":[{"href":"https:\/\/elbornes.com\/wp-json\/wp\/v2\/latest"}],"about":[{"href":"https:\/\/elbornes.com\/wp-json\/wp\/v2\/types\/latest"}],"wp:attachment":[{"href":"https:\/\/elbornes.com\/wp-json\/wp\/v2\/media?parent=1839"}],"wp:term":[{"taxonomy":"subject-area","embeddable":true,"href":"https:\/\/elbornes.com\/wp-json\/wp\/v2\/subject-area?post=1839"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}