“As a result of many sanctions authorities authorize the imposition of sanctions on non-US individuals – not ordinarily topic to US jurisdiction – for partaking in materials transactions with an SDN, many non-US individuals will now refuse to transact with Ly, no matter jurisdictional issues,” stated Brendan Hanifin, a Chicago-based accomplice at legislation agency Ropes & Grey. “Given the primacy of the U.S. greenback in worldwide monetary transactions, the sensible impact of the SDN designation will likely be to chop off Ly’s entry to a lot of the international monetary system.”
