including in the us financial system. there is a lot we can do in the sanctions but it is difficult because it is an ever evolving and changing and more sophisticated system. facebook has blocked australian users from sharing or viewing news content in a dispute over a proposed law. australia wants social media giants to pay for the content re—posted from news outlets. facebook said the proposed law "fundamentally misunderstands the relationship between our platform and publishers". the extreme step came as google struck a global deal with rupert murdoch's news corp for content, defusing a long—running dispute between the two companies. let's speak to the bbc�*s phil mercer in sydney. this appears to be a watershed