Matt Levine, Columnist

U.S. Sanctions Hit European Banks

Also Aramco, HQ2 insider trading, merchant cash advances, OptionSellers.com, Michelangelo and leveraged loans.

November 20, 2018 at 4:38 PM UTC

Matt Levine is a Bloomberg Opinion columnist. A former investment banker at Goldman Sachs, he was a mergers and acquisitions lawyer at Wachtell, Lipton, Rosen & Katz; a clerk for the U.S. Court of Appeals for the 3rd Circuit; and an editor of Dealbreaker.

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If you are a European bank, and you process payments in dollars to countries that are covered by U.S. sanctions, is that:

During the Obama administration, we talked a few times around here about sanction-violation fines, and my impression was always that many American commentators took the “evil” side of this debate, while many Europeans (and bankers) took the “meh” side.