British banks will have to cut ties to sanctioned oligarchs, US says

Press quote (The New York Times)
10 April 2018

British officials have not always been enthusiastic about the American sanctions, but British businesses have tended to comply, largely out of fear of being penalized by the United States, said Ian Bond, director of foreign policy at the Center for European Reform. “The reality is that, for most companies dealing with the United States, the U.S. is much more important than dealing with Russia or Cuba or Iran or Libya,” he said.