Mark Moss explains how the U.S. uses secondary sanctions: it warns companies engaging with Iran, gives them time to comply, then cuts them from the dollar system if they refuse. Meet expectations or lose access to dollar transactions.
reason we're able to use secondary sanctions is because we do not take their use lightly. Secondary sanctions. So not just sanctioning Iran, but anybody and everybody that has anything to do with that secondarily. And he said, we believe that a warning shot and a level set of expectations is appropriate. So rather than just, as he said, blow up the banking system, we think that we should give people a cure period. We want to give them a shot. If people do not want to meet our expectations, then They'll have to leave the dollar system. Boom, he said it right there. If they don't want to meet our expectations, then they got to leave. They have to leave the dollar system.
