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

Lipsky interviewed by NPR on the impact of cutting Russia off from SWIFT and sanctioning the Russian Central Bank

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
Lipsky interviewed by NPR on the impact of cutting Russia off from SWIFT and sanctioning the Russian Central Bank

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
Lipsky interviewed by NPR on the impact of cutting Russia off from SWIFT and sanctioning the Russian Central Bank

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 1, 2022

Lipsky interviewed by NPR on the impact of cutting Russia off from SWIFT and sanctioning the Russian Central Bank

Listen to the interview here.

Economy & Business Europe & Eurasia

In the News

Mar 1, 2022

Friendlander quoted in New York Times on the effectiveness of sanctions

Read the full article here.

Economy & Business Europe & Eurasia

Econographics

Feb 28, 2022

What about inflation and the Russia-Ukraine crisis?

By Amin Mohseni-Cheraghlou

The Russia’s invasion of Ukraine is rattling the global economy and markets.

Economy & Business Financial Sanctions and Economic Coercion

In the News

Feb 28, 2022

O’Toole interviewed by NHK Japan

Watch the interview here

Economy & Business Europe & Eurasia

In the News

Feb 28, 2022

Lipsky interviewed by NPR on sanctioning the Russian Central Bank

Listen to the interview here.

Economy & Business Europe & Eurasia

In the News

Feb 28, 2022

Friendlander interviewed by War on the Rocks to discuss the objectives and scope sanctions imposed on Russia

Listen to the full interview here.

Economy & Business Europe & Eurasia

In the News

Feb 28, 2022

Ashford at CFR: U.S.-Russia Relations—What’s at Stake?

By Atlantic Council

On February 28, Emma Ashford attended a CFR event as a panelist to discuss the broader implications of Russia’s attack on Ukraine. “Ukraine and Russia have an extremely long history together. They have often been part of the same politik, they have not always been the same country. Many in Moscow (and I think Vladimir […]

Conflict Eastern Europe

In the News

Feb 28, 2022

Friendlander interviewed by Lawfare on how the scope and effectiveness of sanctions against Russia

Listen to the podcast here.

Economy & Business Europe & Eurasia

In the News

Feb 28, 2022

Friendlander interviewed by Yahoo Finance on the West blocking Russia from SWIFT and Russia’s economic outlook

Watch the full interview here.

Economy & Business Europe & Eurasia

In the News

Feb 28, 2022

Friendlander quoted in Wall Street Journal how Western sanctions on Russia will impact global monetary and macro stability

Read the full article here.

Economy & Business Europe & Eurasia
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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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