The US Department of Justice is off the hook. They are seeking to lay fines on any bank that violates its rules simply because the transaction took place in US dollars. This is one primary reason we will see a neutral reserve currency. The USA is violating international territorial jurisdiction claiming authority over transactions conducted simply in dollars. This is a way to justify a one-world electronic reserve currency to prevent precisely this sort of claim of jurisdiction internationally based solely upon currency. Now the French government may have to defend its banks against insane fines – $10 billion they want from BNP Paribas
