After BNP Paribas, Societe Generale must pay $ 1.3 billion to US justice

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Every morning, Axel de Tarlé decrypts one of the most important economic news of the day.

American justice is attacking Société Générale. The French bank must pay more than a billion dollars to avoid a lawsuit.

This is exactly the same story as BNP Paribas four years ago, the French bank had to pay a fine of nine billion dollars for using the dollar in countries under US embargo: Iran, Cuba and Sudan. It's the same except that Société Générale prefers to pay to avoid a lawsuit.
But the message is clear, that is what awaits the European companies who would think of trading with Iran. American justice will pick you up to punish you and we are helpless.

Why can not we use the euro to trade with Iran or Cuba?

This is the big question!
Jean-Claude Juncker, the president of the European Commission, is enraged to see that even when Air France buys Airbus planes (everything is European), we use the dollar and not the euro.
Why ? Because the dollar is the global reference currency used to set a value on oil, soybeans and planes.
But things could change because the dollar, which until now has been seen as a common good for the benefit of all, is increasingly seen as an American tool in the service of American interests alone to impose their law in the world.
There is therefore a desire, especially in Russia, in China but also in Europe, to go through other currencies. We are talking about "de-dollarization" of the world economy.
It will be long but, with their cowboy attitude, the Americans have lit the wick that could eventually mark the end of the King Dollar in global transactions and the rise of other international currencies. We think of the Yuan, the Chinese currency and especially the euro.