I’ll admit that I don’t really know how that works, or how it’s enforced, or whatever

They almost always mean “economic sanctions”.

Cutting them off from “western banking”…

Essentially not letting them buy/sell any stocks in the western market.

Which unfortunately is headquartered in NYC, explaining why it’s the NY Stock Exchange.

There are others, Europe has 5 worth over a trillion each and some others, Asia has the NICA index.

But trump personally would be very hard to sanction in other markets, because he’s so shady banking institutions usually won’t deal with him. It’s why he pivoted to crypto.

He does have some money in NYSE, but that’s overseen by the SEC, and trump won’t sanction himself