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 Quartz on Western sanctions against Russia

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 Quartz on Western sanctions against Russia

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 Quartz on Western sanctions against Russia

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 Quartz on Western sanctions against Russia

Read the full article here.

Economy & Business Europe & Eurasia

In the News

Feb 22, 2022

O’Toole quoted in Financial Post on economic impact of sanctions

Read the full article here.

Economy & Business Europe & Eurasia

In the News

Feb 22, 2022

Friedlander quoted in the Washington Post on the timing of sanctions

Read the full article here.

Economy & Business Europe & Eurasia

In the News

Feb 22, 2022

O’Toole interviewed by CNN on sanctions against Russia

Watch the full interview here.

Economy & Business Europe & Eurasia

In the News

Feb 22, 2022

Iyer and Warrick in the Week on a Russian invasion

By Atlantic Council

Arun Iyer and Thomas Warrick comment on a Russian invasion of Ukraine.

Conflict Cybersecurity

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
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Experts

Fellow

Daniel McDowell

Nonresident Senior Fellow

GeoEconomics Center

China Economy & Business

Staff

Maia Nikoladze

Deputy Director, Economic Statecraft Initiative

Economic Statecraft Initiative GeoEconomics Center

Digital Currencies Eastern Europe

Fellow

Brian O’Toole

Nonresident Senior Fellow

Economic Statecraft Initiative GeoEconomics Center

Cuba Economy & Business

Millennium fellow

Daniel Saka Mbumba

Sanctions Compliance Project Manager, BNP PARIBAS

Millennium Leadership Program

Financial Regulation Financial Sanctions and Economic Coercion

Fellow

Laura Shen

Nonresident Senior Fellow

Economic Statecraft Initiative Indo-Pacific Security Initiative

Artificial Intelligence China

Fellow

Jesse Sucher

Nonresident Senior Fellow

Economic Statecraft Initiative GeoEconomics Center

China East Asia
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