This is why Europe needs to detach itself from the American banking system.
It used to be very practical to use it. Countries renounced to some sovereignty in exchange for ease of doing business. The USA had an advantage but it didn't abuse it too much.
The current situation is that the USA is asking to forfeit sovereignty and to control business in an ideological basis. There is a strong incentive to leave that system as the alternative is become a colony of the USA. And the push for colonization is not subtle as the president takes over other countries resources like Venezuela's oil or tries to take control of the straight of Hormuz (None part of the USA at this moment)