Financial Sanctions and Economic Coercion

Economy & Business

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

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Econographics Sep 16, 2025

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

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Regardless of how the Supreme Court rules, the case will shape US economic policy for years to come.

Economy & Business Trade and tariffs

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

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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UkraineAlert

Apr 12, 2022

Europe must stop funding Vladimir Putin’s war crimes in Ukraine

By Basil Kalymon

While the international community condemns Vladimir Putin's invasion of Ukraine, European countries continue to fund the war by paying Russia EUR 1 billion every day for oil and gas supplies.

Conflict Energy Transitions

In the News

Apr 11, 2022

Friedlander quoted in ICIJ on the failure by western countries to hold banks accountable for profiting from financial crimes in Russia

Read the full article here.

Economy & Business European Union

In the News

Apr 9, 2022

Ashford quoted in Fox News: Former US ambassador to NATO: Putin has ‘put himself on a plank’

By Atlantic Council

On March 9, Emma Ashford was quoted by Fox News in an article responding to her appearance on Intelligence Squared. “Volker and Ashford argued broadly about the United States’ stance defending Ukraine, Ukraine’s place in or outside NATO, the benefits or downsides of sanctions against Russia, and more over the course of the podcast episode.” […]

Conflict Crisis Management

In the News

Apr 8, 2022

Read the full article here.

Economy & Business European Union

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Financial Sanctions and Economic Coercion

Energy Sanctions Dashboard

Russia Sanctions Database

Recent analysis

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

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

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

Programs

Content

Europe must stop funding Vladimir Putin’s war crimes in Ukraine

Friedlander quoted in ICIJ on the failure by western countries to hold banks accountable for profiting from financial crimes in Russia

Ashford quoted in Fox News: Former US ambassador to NATO: Putin has ‘put himself on a plank’

Cohen in Bloomberg: Are Sanctions Pitting Russians Against The West?

Lipsky interviewed on CNN on the impact of sanctions on Russia’s domestic economy

Friedlander quoted in the New York Times on the Biden administration’s sanctions policies

Lipsky quoted in Marketplace on efforts to punish Russia through trade

Friedlander quoted in the New Republic’s Soapbox on Russia’s economic damage caused by sanctions

O’Toole quoted in Financial Times on the strength of the dollar and lack of alternative options for sanctions evasion

Friedlander quoted in Marketplace on ways Russia can use its revenue from oil and gas sales to Europe, despite cut off from western financial system

Experts

Nitansha Bansal

Ryan Berger

Chris Brummer

Michael Carpenter

Hagar Hajjar Chemali

Claire Chu

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