Financial Sanctions and Economic Coercion

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

O’Toole quoted in Foreign Policy on deterrence sanctions

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
O’Toole quoted in Foreign Policy on deterrence sanctions

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
O’Toole quoted in Foreign Policy on deterrence sanctions

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 22, 2022

O’Toole quoted in Foreign Policy on deterrence sanctions

Read the full article here.

Economy & Business Europe & Eurasia

In the News

Feb 22, 2022

O’Toole quoted in Bloomberg on sanctions against Russia

Read the full article here.

Economy & Business Europe & Eurasia

In the News

Feb 21, 2022

Ambassador Fried interviewed on CNN on Putin’s offenses

Watch the video here.

Conflict Economy & Business

In the News

Feb 21, 2022

Friedlander quoted in The New York Times on the sanctions rollout

Read the full article here.

Economy & Business Europe & Eurasia

In the News

Feb 21, 2022

Ambassador Fried quoted in Washington Post on Biden’s trade and investment actions against Russia

Read the full article here.

Economy & Business Europe & Eurasia

In the News

Feb 21, 2022

Ashford in War on the Rocks: Russia recognizes breakaway territories in eastern Ukraine

By Atlantic Council

On February 21, Ashford featured on the War on the Rocks Warcast, discussing the Russian recognition of the independence of breakaway territories of Eastern Ukraine. “I spoke with Dr. Emma Ashford to discuss the current military situation on Ukraine’s borders, trans-Atlantic diplomacy, and the implications of additional sanctions on the Russian economy. Emma is a […]

Eastern Europe Economy & Business

In the News

Feb 19, 2022

Ambassador Fried interviewed in Fox News on Russia sanctions

Watch the interview here.

Economy & Business Europe & Eurasia

UkraineAlert

Feb 19, 2022

Will there be a “Munich Moment” in the Russia-Ukraine crisis?

By Thomas S. Warrick

A full-scale Russian invasion of Ukraine could yet be prevented via a "Munich moment" bringing together Vladimir Putin and Joe Biden to strike a last-minute geopolitical deal, writes Thomas Warrick.

Conflict Financial Sanctions and Economic Coercion
Dollar Plaza Accord

Econographics

Feb 18, 2022

Russia and China: Partners in dedollarization

By Mrugank Bhusari, Maia Nikoladze

Russia has virtually stopped receiving Dollars for its exports to China. Does the US have reason to be concerned?

China Economy & Business

In the News

Feb 17, 2022

O’Toole and Fried quoted in Reuters on the potential impact of US sanctions that target Russian state banks

Read the full article here.

Economy & Business Financial Sanctions and Economic Coercion
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Experts

Fellow

Stephanie Connor

Nonresident Senior Fellow

Economic Statecraft Initiative GeoEconomics Center

Economy & Business Financial Crimes & Illicit Trade

Fellow

Jonathan Corrado

Nonresident Senior Fellow

Indo-Pacific Security Initiative Scowcroft Center for Strategy and Security

Indo-Pacific Korea

Staff

Lize de Kruijf

Program Assistant, Economic Statecraft Initiative

Economic Statecraft Initiative GeoEconomics Center

Dutch Economy & Business

Board director

Ambassador Paula J. Dobriansky

Vice Chair, Scowcroft Center for Strategy and Security

Scowcroft Center for Strategy and Security

Latin America China

Fellow

Hanna Dohmen

Nonresident Fellow

Global China Hub

China Chinese

Fellow

Edward Fishman

Former Nonresident Senior Fellow

Eurasia Center

Russia Financial Sanctions and Economic Coercion
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