US extraterritorial laws are far reaching and used as way to promote US interested. Two foreign entities can be subject to them if the transaction is done in USD for exemple.
https://www.natlawreview.com/article/aggressive-extraterrito...
https://www.natlawreview.com/article/aggressive-extraterrito...
That time too there was much concern over the territorial overreach of the US judicial system, esp in Europe.