Amerykański system sankcyjny – ryzyka regulacyjne dla polskiego sektora bankowego

Przemysław Przybył

doi:10.26354/bb.1.3.96.2024

Published : 2024-12-23

Vol. 96 No. 3 (2024)

US Sanctions regime - regulatory risks for Polish banks

Przemysław Przybył

https://orcid.org/0009-0004-2447-0557

DOI: https://doi.org/10.26354/bb.1.3.96.2024

Abstract

The objective of this paper was to verify the thesis that Polish banks should consider the regulatory risk associated with the extraterritorial U.S. sanctions regime and implement appropriate mitigating measures, regardless of any legal dispute in this domain. The study employed a combination of several research methods including: doctrinal legal analysis, systems analysis, descriptive method and case study analysis. The thesis was confirmed by demonstrating that non-compliance with U.S. law could result in EU banks being fined up to 9 billion USD and being cut off from the dollar clearing system. Disconnection from this system leads to a loss of liquidity and bankruptcy, given the dominant role of the USD in international trade. Violations of the U.S. sanctions regime also pose reputational risks. To mitigate these risks, appropriate compliance measures should be introduced, including cooperation with U.S. authorities. At the same time, it should be noted that compliance with U.S. regulations may be tantamount to violating EU law. Therefore, any actions aimed at mitigating risk should be preceded by a diligent analysis of the legal and factual circumstances.

Keywords:

USA, sanctions, penalties, banks, clearing

JEL Codes

F51, G21, G28, G32, K23, K42

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Przybył, P. (2024). US Sanctions regime - regulatory risks for Polish banks. Safe Bank, 96(3), 7–24. https://doi.org/10.26354/bb.1.3.96.2024

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Przemysław Przybył

przemyslaw.przybyl@outlook.com
https://orcid.org/0009-0004-2447-0557

Affiliation:
Uniwersytet Wrocławski; INE PAN Poland