

I struggle to rationalize this for countries not already in armed conflict.
Legally, practically, or morally?
Practically, armed conflict is way more expensive, and it’s riskier. If you had two strategies for changing someone’s behavior: 1) Punch them until they agree to change, 2) Tell them they can’t borrow any more money from you until they agree to change… you would probably prefer number two because it’s less risky.
Legally… we only have 80 years of precedent for the USD being the world’s reserve currency, amd 50 years of weaponizing that power with the IEEPA. Rules for armed conflicts, on the other hand, are ancient. We have a lot of examples for acts of war in armed conflicts, and we can quickly define them and recognize them. For defining and regulating financial “attacks”… we have basically nothing.
Morally… you and I have different moral systems from the people in charge. People can rationalize some truly heinous shit.








Just dropping in to say that I, as an American, also look at Europe as though it’s one country with individual states. I don’t think that’s a universal rule, but I think a lot of Americans do that, in part, because we mostly hear about politics in terms of the “European Union”.
Occasionally the news is at the country level… France’s nuclear reactors… Spain suggesting development in the military… Denmark starting conscription… but the regulations we hear about, such as regarding carbon emissions or GDPR are in terms of the EU as a whole.