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

No European security without Ukrainian victory

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
No European security without Ukrainian victory

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
No European security without Ukrainian victory

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

UkraineAlert

Jan 23, 2024

No European security without Ukrainian victory

By Pavlo Zhovnirenko

As the Russian invasion of Ukraine approaches the two-year mark, Western leaders increasingly acknowledge that there can be no European security without Ukrainian victory, writes Pavlo Zhovnirenko.

Conflict Defense Policy
Dedollorization and RMB internationalization

Econographics

Jan 22, 2024

Dedollarization is not just geopolitics, economic fundamentals matter

By Niels Graham, Hung Tran

Geopolitical explanations have dominated recent analysis on dedollorization. While it is certainly a key factor, macroeconomics matter as well. US interest rates and a rising dollar are encouraging other countries to search for alternatives.

Brazil China
An aerial view of Quito, Ecuador

Spotlight

Jan 12, 2024

2024 predictions: How ten issues could shape the year in Latin America and the Caribbean

By Adrienne Arsht Latin America Center

How will the region ride a new wave of changing economic and political dynamics? Will the region sizzle or fizzle? Join in and be a part of our ten-question poll on the future of LAC.

Brazil Caribbean

In the News

Jan 12, 2024

“Transatlantic Economic Statecraft: Different Approaches, Shared Risk” report cited by RAND Europe on economic and national security

Read the written evidence here.

Economy & Business Europe & Eurasia

In the News

Jan 9, 2024

Nonresident Senior Fellow Didi Kirsten Tatlow in Newsweek: Lawmakers to Biden Administration: Sanction Chinese Internet Device Company

By Didi Kirsten Tatlow 

On January 8, Nonresident Senior Fellow Didi Kirsten Tatlow published her latest article in Newsweek with Shaun Waterman, discussing the ongoing effort by policymakers to sanction Chinese tech giant Quectel as a Chinese military supplier.

China Defense Industry

In the News

Jan 4, 2024

Lichfield and Dollar Dominance Monitor cited in the Financial Times on Russian asset seizure and the US dollar

Read the full article here.

Financial Sanctions and Economic Coercion International Financial Institutions

IranSource

Jan 4, 2024

Iran targeted human rights sanctions series: Why are people and entities sanctioned for human rights abuses?

By Celeste Kmiotek, Lisandra Novo

Every perpetrator designated by a jurisdiction for targeted sanctions generally faces the same consequences.

Financial Sanctions and Economic Coercion Human Rights

In the News

Dec 29, 2023

Wald and Shaffer quoted in S&P Global Commodity Insights on Iranian sanctions, ties to Houthis, and crude oil supplies
Energy Markets & Governance Financial Sanctions and Economic Coercion

In the News

Dec 22, 2023

Donovan quoted in Bloomberg on effects of Russia secondary sanctions

Read the full article here.

Financial Sanctions and Economic Coercion International Financial Institutions

In the News

Dec 22, 2023

Tannebaum cited in the New York Times on additional Russia sanctions on financial firms

Read the full article here.

Financial Sanctions and Economic Coercion International Financial Institutions
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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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