Financial Sanctions and Economic Coercion

Financial sanctions and other forms of economic coercion have become policy tools of choice for the US government to deter illegal activity by international actors or to pressure governments into reversing actions that harm US interests. Yet these instruments and their potential pitfalls are often misunderstood. Restrictive economic measures such as financial sanctions, export controls, tariffs, and investment screening can play an important role in advancing certain policy objectives, but they risk being ineffective if misapplied or poorly implemented. Policymakers must also recognize the impact of economic statecraft on the private sector, which bears many of the compliance burdens and operational costs associated with these measures.

Energy Sanctions Dashboard

This dashboard focuses on US sanctions and restrictive measures placed on crude oil from Russia, Iran, and Venezuela—including the unintended consequences and the lessons learned.

Econographics

Apr 17, 2025

Russia Sanctions Database

By Kimberly Donovan, Maia Nikoladze, Lize de Kruijf

The Atlantic Council’s Russia Sanctions Database tracks the level of coordination among Western allies in sanctioning Russian entities, individuals, vessels, and aircraft, and shows where gaps still remain.

Eastern Europe Economy & Business

Recent analysis

Fried on NPR on American responses to Navalny’s arrest

Econographics Sep 16, 2025

The Supreme Court’s decision on Trump tariffs will have lasting impact on US economic statecraft

By Stephanie Connor

Regardless of how the Supreme Court rules, the case will shape US economic policy for years to come.
Economy & Business Trade and tariffs
Fried on NPR on American responses to Navalny’s arrest

New Atlanticist Mar 28, 2024

The axis of evasion: Behind China’s oil trade with Iran and Russia

By Kimberly Donovan, Maia Nikoladze

Beijing has developed a way to import Iranian and Russian oil while bypassing the Western financial system and shipping services.
China Economy & Business
Fried on NPR on American responses to Navalny’s arrest

Testimony Feb 21, 2025

Kimberly Donovan testifies to the US-China Economic and Security Review Commission on the Axis of Autocracy

By Kimberly Donovan

On February 20, Economic Statecraft Initiative Director Kimberly Donovan testified to the US-China Economic and Security Review Commission at a hearing titled, “An Axis of Autocracy? China’s Relations with Russia, Iran, and North Korea.”
China Economy & Business

Programs

At the intersection of economics, finance, and foreign policy, the GeoEconomics Center is a translation hub with the goal of helping shape a better global economic future.

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Content

In the News

Feb 3, 2021

Fried on NPR on American responses to Navalny’s arrest

By Daniel Fried

Eastern Europe Economy & Business

Issue Brief

Jan 27, 2021

Biden and Belarus: A strategy for the new administration

By Anders Åslund, Melinda Haring, John E. Herbst, Alexander Vershbow

Joe Biden has an historic opportunity to bring Europe together and reverse the tide of dictatorship by building an international coalition to support democracy in Belarus. This strategy lays out key recommendations for the Biden administration as it prepares its policy toward Belarus.

Belarus Democratic Transitions

New Atlanticist

Jan 25, 2021

Navalny’s arrest is Biden’s first big test. Here’s how he can pass it.

By Daniel Fried, Anders Åslund

What happens next matters. The US response (or lack of response) will show how much Russian President Vladimir Putin’s internal repression—including assassinations—will factor into the Biden team’s overall Russia policy. The trick for the Biden administration will be to respond with sufficient firmness and cross-Atlantic coordination to puncture Putin’s apparent sense of impunity while leaving space for cooperation with Russia where that makes sense.

Financial Sanctions and Economic Coercion Russia

In the News

Jan 21, 2021

Herbst joins Carnegie Europe to talk European policy toward the Kremlin

By Atlantic Council

Financial Sanctions and Economic Coercion International Organizations

In the News

Jan 18, 2021

Friedlander quoted in the New York Times on the Trump Administration sanctioning Russian vessels constructing Nord Stream 2

By Julia Friedlander

Read the full article here.

European Union Financial Sanctions and Economic Coercion

In the News

Jan 14, 2021

Friedlander quoted by Politico on Chinese retaliation against US sanctions

By Julia Friedlander

Read the full article here.

China Financial Sanctions and Economic Coercion

In the News

Jan 14, 2021

Friedlander quoted by S&P Global Market intelligence on Trump’s lack of retaliation against France’s digital service tax

By Julia Friedlander

Read the full article here.

China Financial Sanctions and Economic Coercion

Issue Brief

Jan 14, 2021

Rejoining the Iran nuclear deal: Not so easy

By Brian O’Toole

President-elect Joe Biden takes office on January 20, 2021, facing a litany of daunting foreign policy issues, from another massive cyber hack by Russian intelligence to alienated allies in Europe and beyond to a regime in Pyongyang that continues to proliferate weapons of mass destruction unchecked. But perhaps the stickiest—and most immediate—crisis the Biden administration […]

Economy & Business Financial Sanctions and Economic Coercion

Issue Brief

Dec 23, 2020

Countering Russia’s challenge to the free world

By Edward Fishman and Ash Jain

Over the past decade, the Kremlin has executed a concerted strategy to undermine the cohesion of, and confidence in, democratically-elected governments in Europe and around the world. In response, leading democracies have acted to counter Russia by enacting sanctions and pursuing other measures aimed at defending frontline states against Russian aggression.

Economy & Business Elections

In the News

Dec 21, 2020

Friedlander quoted in National Journal on new US sanctions against Turkey

By Julia Friedlander

Read the full article here.

Financial Sanctions and Economic Coercion Turkey
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Experts

Staff

Nitansha Bansal

Associate Director

Cyber Statecraft Initiative

Artificial Intelligence Cybersecurity

Fellow

Ryan Berger

Nonresident Fellow

Global China Hub

Americas Cybersecurity

Fellow

Chris Brummer

Nonresident Senior Fellow

GeoEconomics Center

Digital Currencies Economy & Business

Fellow

Michael Carpenter

Distinguished Fellow

Eurasia Center Europe Center

Eastern Europe National Security

Fellow

Hagar Hajjar Chemali

Nonresident Senior Fellow

Economic Statecraft Initiative GeoEconomics Center

Economy & Business Financial Sanctions and Economic Coercion

Fellow

Claire Chu

Nonresident Fellow

Global China Hub

China Chinese
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