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

Manning in Radio Free Asia: The U.S. will have a tentative list of additional sanctions on North Korea [translated from Korean]

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
Manning in Radio Free Asia: The U.S. will have a tentative list of additional sanctions on North Korea [translated from Korean]

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
Manning in Radio Free Asia: The U.S. will have a tentative list of additional sanctions on North Korea [translated from Korean]

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 14, 2022

Manning in Radio Free Asia: The U.S. will have a tentative list of additional sanctions on North Korea [translated from Korean]

By Atlantic Council

On February 14, Manning was cited by Radio Free Asia regarding how the United States is approaching financial sanctions of North Korea and the administration’s cooperation with allies. “Robert Manning, a senior researcher at the Atlantic Council…told Radio Free Asia (RFA) that the State Department is currently working with the Ministry of Finance to understand what additional sanctions […]

Economy & Business Financial Sanctions and Economic Coercion

In the News

Feb 14, 2022

Sales joins Fox Business to discuss ongoing Russia-Ukraine conflict

By Atlantic Council

Conflict Crisis Management

In the News

Feb 13, 2022

O’Toole quoted in the Washington Post on the US sanctions against Russia

Read the full article here.

Economy & Business Financial Sanctions and Economic Coercion

In the News

Feb 13, 2022

Slavin quoted in The Irish Times on challenges of the US-Iran nuclear talks in Vienna

By Atlantic Council

Financial Sanctions and Economic Coercion Inclusive Growth

UkraineAlert

Feb 11, 2022

Ukraine Crisis: Deterring Putin is expensive but much cheaper than war

By Andriy Zagorodnyuk

Deterring Putin from launching a full-scale invasion of Ukraine is an expensive business, but it is infinitely cheaper than the price the international community will have to pay if Russia unleashes a major European war.

Conflict European Union

UkraineAlert

Feb 10, 2022

Black Sea blockade: Ukraine accuses Russia of major maritime escalation

By Peter Dickinson

While the world watches Ukraine's land borders with Russia and Belarus for signs of Putin's threatened full-scale invasion, Moscow may be in the process of opening a maritime front with a Black Sea blockade.

Economy & Business Financial Sanctions and Economic Coercion

In the News

Feb 10, 2022

Slavin quoted in Al-Monitor on Congressional perspectives of the ongoing US-Iran talks

By Atlantic Council

Crisis Management Financial Sanctions and Economic Coercion

New Atlanticist

Feb 8, 2022

For Biden, wreaking havoc on Russia’s economy is the least bad option

By Brian O’Toole, Daniel Fried, Edward Fishman

Putin is testing the West’s resolve for tough measures—which is why maximalist banking sanctions are the linchpin of an effective deterrent.

Conflict Economy & Business

In the News

Feb 8, 2022

Slavin quoted in Le Point on challenges of US-Iran nuclear negotiations in Vienna

By Atlantic Council

Energy & Environment Financial Sanctions and Economic Coercion

In the News

Feb 8, 2022

Slavin quoted in Al Jazeera on US-Iran nuclear talks in Vienna and future negotiations

By Atlantic Council

Financial Sanctions and Economic Coercion G20
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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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