Top officials at the Financial Integrity Network have hinted that the Trump administration’s international sanctions and regulatory changes might affect significant market players and financial institutions in the U.S. and abroad.
Juan Zarate, chairman and cofounder of FIN, spoke with FIN Vice President David Murray and directors Gail Fuller and Eric Lorber on a Wednesday podcast to discuss the challenges facing the financial sector in 2019.
The officials focused on the sanctions against Iran and North Korea as well as policies targeting Russia and China. Zarate said such a situation could lead to challenges on how financial and commercial entities interact with each other internationally.
Murray also warned the sanctions’ impact on the commercial sector might also have consequences in the U.S.
“In the fundamental pillar of the approach to sanctions is you should never impose more costs on yourself than you impose on your adversary, and your cost should be measured both economically and diplomatically,” he said.
Fuller also noted that the involvement of various authorities in the federal government, as well as Congress, in imposing sanctions could result in “mixed messages” that could affect U.S. national security and economic security.