// definition
Secondary sanctions
US pressure on a foreign person
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Short definition
Measures that force a non-US person or bank to choose between specified dealings with a sanctioned target and important access to the United States, including dollar correspondent accounts. They use access to the US market and financial system as leverage.
risk atlas
Knowledge map
Intuition
The foreign person is not simply told that its local transaction is illegal. It is told that continuing it can cost access to the United States.
Why it matters now
The decisive Iran question is whether Washington will apply this leverage to a major foreign bank rather than another replaceable intermediary.
Related analyses
- How far can Bessent close the dollar?The dollar channel and the line between deterrence and systemic disruption.
Related guides
- Read the OFAC SDN ListHow US blocking sanctions and list-based controls work.
Primary sources
- Congressional Research ServiceDefinitions and current landscape of US sanctions on Iran.
- FinCEN Section 311 ruleCorrespondent-account restrictions involving Iranian financial institutions.