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

Goldwyn, Wald, and Shaffer quoted in S&P Global on Trump’s stance on oil sanctions

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
Goldwyn, Wald, and Shaffer quoted in S&P Global on Trump’s stance on oil sanctions

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
Goldwyn, Wald, and Shaffer quoted in S&P Global on Trump’s stance on oil sanctions

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

Aug 12, 2024

Goldwyn, Wald, and Shaffer quoted in S&P Global on Trump’s stance on oil sanctions

By Brenda Shaffer, David L. Goldwyn, Ellen Wald

Elections Financial Sanctions and Economic Coercion

IranSource

Aug 2, 2024

Iran targeted human rights sanctions series: What is ‘beneficial ownership’ and how does it relate to targeted sanctions?

By Celeste Kmiotek, Lisandra Novo

Increased transparency over beneficial ownership, as well as leaked documents, have yielded examples that highlight why beneficial ownership information is critical for sanctions enforcement.

Economy & Business Financial Regulation

In the News

Jul 22, 2024

Tannebaum interviewed in Institute for International Finance’s podcast Current Account on the rise of secondary sanctions

Listen to the podcast here

Financial Sanctions and Economic Coercion Russia

In the News

Jul 15, 2024

Lipsky featured in Mercatus Center podcast on tools of financial statecraft

Listen to the full podcast here.

China Digital Currencies

In the News

Jul 10, 2024

Donovan and Nikoladze cited by Washington Post on sanctions evasion

Read the full article here.

China Financial Sanctions and Economic Coercion

In the News

Jun 25, 2024

Professor Shaffer quoted in S&P Global on US Treasury sanctions on Iranian shadow banking network
Financial Sanctions and Economic Coercion Iran

In the News

Jun 25, 2024

Dollar Dominance Monitor featured by Reuters on BRICS de-dollarization efforts

Read the full article here.

Brazil China

In the News

Jun 25, 2024

Transatlantic Economic Statecraft Report cited in the International Cybersecurity Law Review on semiconductor supply chains

Read the journal article here.

Artificial Intelligence China

In the News

Jun 24, 2024

Donovan and Nikoladze cited by The Atlantic on China-Russia oil trade

Read the full article here.

China Financial Sanctions and Economic Coercion

New Atlanticist

Jun 18, 2024

Indirect China-Russia trade is bolstering Moscow’s invasion of Ukraine

By Joseph Webster

Trade between China and Russia has risen sharply since the beginning of Moscow’s full-scale invasion of Ukraine, facilitating the Kremlin’s war effort.

China Economy & Business
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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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