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

Friedlander in Politico: Opinion | The West Has Declared Financial War on Russia. Is It Prepared for the Consequences?

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
Friedlander in Politico: Opinion | The West Has Declared Financial War on Russia. Is It Prepared for the Consequences?

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
Friedlander in Politico: Opinion | The West Has Declared Financial War on Russia. Is It Prepared for the Consequences?

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

Mar 8, 2022

Friedlander in Politico: Opinion | The West Has Declared Financial War on Russia. Is It Prepared for the Consequences?

"The US and Europe are using sanctions to try and stop a war that’s already underway. It’s a huge gamble," writes Julia Friedlander in Politico.

Economy & Business Financial Sanctions and Economic Coercion

AC Selects

Mar 8, 2022

AC Selects: Russia-Ukraine war: US sanctions, Chinese ties, and the road ahead

Week of March 4, 2022 Last week, the Eurasia Center, the Global China Hub, and the GeoEconomics Center focused its convening power on Russia’s full-scale war on Ukraine. The three events looked at sanctions designed to cripple the Russian economy, the implications of the invasion for China-Russia relations, and how the US administration has responded […]

China Conflict

In the News

Mar 7, 2022

Amb. Fried interviewed in Bloomberg’s Balance of Power podcast on the Ukrainian refugee crisis

Listen to the interview here

Economy & Business European Union

In the News

Mar 7, 2022

Friedlander interviewed on Hidden Forces podcast regarding economic sanctions against Russia

Listen to the interview here

Crisis Management Defense Policy

In the News

Mar 7, 2022

Friedlander quoted in Politico on economic sanctions against Russian oligarchs

Read the article here

Economy & Business European Union

In the News

Mar 7, 2022

Plitsas in News12 on stopping the Russian advance in Ukraine

By Atlantic Council

Alex Plitsas considers non-military measures for deterring the Russian advance.

Defense Policy Financial Sanctions and Economic Coercion

In the News

Mar 7, 2022

Norrlof article published in the Washington Post on SWIFT and sanctions

Read the article here

Economy & Business European Union

EconoGraphics

Mar 7, 2022

Global Sanctions Dashboard: Special Russia edition

By Julia Friedlander, Maia Nikoladze, Charles Lichfield, Ananya Kumar and Castellum.AI

Sanctioning Russian Central Bank, cutting Russia off SWIFT, and Russia’s options for sanction-proofing its economy.

Belarus Conflict

In the News

Mar 7, 2022

Ashford in The Week: The moral mess of banning Russian oil

By Atlantic Council

On March 7, Emma Ashford was quoted in The Week on the dangers of banning imports of Russian oil. “This is what happens in wartime: You make a deal with the devil in order to avert some greater evil. The United States allied with the Soviet Union to defeat Nazi Germany, then opened the doors […]

Defense Policy Eastern Europe

In the News

Mar 7, 2022

Lipsky quoted in Marketplace on Russia’s economic isolation

Read the full article here

Economy & Business European Union
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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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