I worked on anti money laundering for a Canadian bank in Canada. Our scenarios in 2020 were much stricter than stopping illegal arms trading. We were on the lookout for Iranian-Canadian dual citizens sending Canadian dollar remittances to their Iranian families, which would have invalidated the bank’s status as a money service business in the US (which all Canadian banks require due to our integrated economy!) That is, any transaction in any financial institution in any currency (including eg life insurance, mortgages, paypal, etc) is covered by American sanctions regulations if that financial institution does any business in US dollars.