Financial Sanctions and Economic Coercion

Russia will sacrifice its civilian economy on the altar of the war effort

By Charles Lichfield and Brendon Chen

As the Central Bank of Russia runs out of options and bad loans accumulate on balance sheets, the Kremlin continues to privilege war-linked sectors.

What the latest US sanctions bill means for Russia—and for China, India, and Iran

By Maia Nikoladze

If it passes, the bill would affect several major countries that currently trade with Russia, and those effects should be factored into US planning.

With US sanctions temporarily lifted, is Iranian crude back on the menu?

By Lize de Kruijf, Chloe O’Connor

The US-Iran deal waives sanctions on Iranian oil sales, but Washington will need further steps to meaningfully shift global crude trade and ensure clearer visibility into Iranian oil transactions.

Energy Sanctions Dashboard: October 2025

The October 2025 edition of the Energy Sanctions Dashboard analyzed China’s central role in the market for sanctioned oil and the techniques Russia, Iran, and Venezuela use to evade sanctions on oil.

EU targets Kyrgyzstan as Brussels seeks to prevent Russian sanctions evasion

By Marc Goedemans

The latest EU sanctions on Russia also featured measures against Kyrgyzstan. This was the first use of so-called anti-circumvention tools, which are designed to prevent third countries from helping the Kremlin bypass restrictions over the invasion of Ukraine, writes Marc Goedemans.

When negotiating with Iran, factor in the regime’s ‘marginal propensity for pain’

By Khalid Azim

Gradual pressure will not work on Iran, so the United States should either deliver a decisive escalation or cut a diplomatic deal.

Sanctions waivers on Russian and Iranian oil are set to expire. Here’s what Trump should do next.

By Maia Nikoladze, Daniel Fried

Washington should rely on already established mechanisms to limit revenue flows to both Tehran and Moscow.

Inside Tehran’s toll booth

By Alisha Chhangani

Iran is using formal, semi‑formal, and informal channels, as well as entirely new systems, to avoid US sanctions and sell oil to China.

From drones to rocket fuel, China and Russia are helping Iran through supply chains

By Kimberly Donovan and Emily Ezratty

The US will need to confront China and Russia about their support for the Iranian regime and their schemes to evade sanctions and export controls.