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

Tran cited in Reuters on potential global effects of a Biden re-election

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
Tran cited in Reuters on potential global effects of a Biden re-election

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
Tran cited in Reuters on potential global effects of a Biden re-election

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 19, 2024

Tran cited in Reuters on potential global effects of a Biden re-election

Read the full article here.

Financial Sanctions and Economic Coercion Macroeconomics

In the News

Feb 16, 2024

Garlauskas published in Foreign Affairs

On February 15, Markus Garlauskas and the Korea Society’s Jonathan Corrado published a new piece in Foreign Affairs titled, “The Arsenal of Autocracy: How North Korean Weapons Fuel Conflict—and How to Stop the Flow.” The article emphasizes the importance of building a United States-led international effort to stop North Korea from establishing arms trade relationships […]

Arms Control China

In the News

Feb 15, 2024

Under Secretary Nelson remarks on illicit finance and financial crime quoted by AP

Read the full article here.

Financial Regulation Financial Sanctions and Economic Coercion

In the News

Feb 15, 2024

Under Secretary Nelson remarks on illicit finance and financial crime published by Treasury

Read the full remarks here.

Economy & Business Financial Regulation

In the News

Feb 15, 2024

Braw discusses Western assets in Russia on Yale Books content series

By Elisabeth Braw

On February 15, Transatlantic Security Initiative senior fellow Elisabeth Braw was featured on Yale Books content series discussing Western assets in Russia and the general outlook of globalized economy.

Europe & Eurasia Financial Sanctions and Economic Coercion

In the News

Feb 10, 2024

Donovan quoted in Al-Monitor on Iran sanctions evasion

Read the full piece here.

Economy & Business Financial Sanctions and Economic Coercion

In the News

Feb 9, 2024

Lichfield quoted in Axios on frozen Russian assets

Read the full article here.

Financial Sanctions and Economic Coercion Russia

In the News

Feb 7, 2024

Norrlöf publishes op-ed in Project Syndicate on US sanctions on Israeli settlers

Read the full op-ed here.

Conflict Financial Sanctions and Economic Coercion

In the News

Jan 29, 2024

Russia Sanctions Database cited in CNN on Russian response to sanctions

Read the full article here.

Financial Sanctions and Economic Coercion Russia

Econographics

Jan 25, 2024

Expect Chinese economic retaliation against Taiwan after the DPP’s presidential victory

By Hung Tran

Economic coercion will allow China to increase pressure on Taiwan without directly confronting the US and leave significant leeway to calibrate trade measures.

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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