Economic sanctions: Difference between revisions

'''Economic sanctions''' are [[Commerce|commercial]] and [[Finance|financial]] penalties applied by states or institutions against states, groups, or individuals.<ref name=":1">{{Cite news |last=Drezner |first=Daniel W. |date=2021 |title=The United States of Sanctions |language=en-US |work=Foreign Affairs |url=https://www.foreignaffairs.com/articles/united-states/2021-08-24/united-states-sanctions |issn=0015-7120}}</ref><ref name=":4">{{Citation |last1=Biersteker |first1=Thomas J. |title=The effectiveness of United Nations targeted sanctions |date=2016 |url=https://www.cambridge.org/core/books/targeted-sanctions/effectiveness-of-united-nations-targeted-sanctions/553973997BF1A56B75D00FD4893ECD58 |work=Targeted Sanctions: The Impacts and Effectiveness of United Nations Action |pages=220–247 |editor-last=Tourinho |editor-first=Marcos |publisher=Cambridge University Press |isbn=978-1-107-13421-8 |last2=Tourinho |first2=Marcos |last3=Eckert |first3=Sue E. |editor2-last=Eckert |editor2-first=Sue E. |editor3-last=Biersteker |editor3-first=Thomas J.}}</ref> Economic sanctions are a form of [[Coercion (international relations)|coercion]] that attempts to get an actor to change its behavior through disruption in economic exchange. Sanctions can be intended to [[Compellence|compel]] (an attempt to change an actor's behavior) or [[Deterrence theory|deterrence]] (an attempt to stop an actor from certain actions).<ref name=":5">{{Cite journal |last=Drezner |first=Daniel W. |date=2003 |title=The Hidden Hand of Economic Coercion |url=https://www.jstor.org/stable/3594840 |journal=International Organization |volume=57 |issue=3 |pages=643–659 |doi=10.1017/S0020818303573052 |jstor=3594840 |s2cid=154827129 |issn=0020-8183}}</ref><ref name=":8">{{Cite journal |last=Pape |first=Robert A. |date=1997 |title=Why Economic Sanctions Do Not Work |url=https://www.jstor.org/stable/2539368 |journal=International Security |volume=22 |issue=2 |pages=90–136 |doi=10.2307/2539368 |jstor=2539368 |issn=0162-2889}}</ref><ref name="scholar.harvard.edu">Haidar, J.I., 2017."[https://scholar.harvard.edu/files/haidar/files/haidar-sanctionsandexportdeflection-finaldraft.pdf Sanctions and Exports Deflection: Evidence from Iran]," Economic Policy (Oxford University Press), April 2017, Vol. 32(90), pp. 319–355.</ref>

Sanctions can target an entire country or they can be more narrowly targeted at individuals or groups; this latter form of sanctions are sometimes called "smart sanctions".<ref name=":9">{{Cite journal |last=Drezner |first=Daniel W. |date=2011 |title=Sanctions Sometimes Smart: Targeted Sanctions in Theory and Practice |url=https://www.jstor.org/stable/23016144 |journal=International Studies Review |volume=13 |issue=1 |pages=96–108 |doi=10.1111/j.1468-2486.2010.01001.x |jstor=23016144 |issn=1521-9488}}</ref> Prominent forms of economic sanctions include [[trade barriers]], [[Asset freezing|asset freezes]], [[Traveltravel ban|travel bans]]s, [[Armsarms embargo|arms embargoes]]es, and restrictions on [[financial transactions]].

One of the most comprehensive attempts at an embargo occurred during the [[Napoleonic Wars]] of 1803–1815. Aiming to cripple the [[United Kingdom]] economically, Emperor [[Napoleon I of France]] in 1806 promulgated the [[Continental System]]—which forbade [[European nations]] from trading with the UK. In practice the French Empire could not completely enforce the embargo, which proved as harmful (if not more so) to the continental nations involved as to the British.<ref>{{cite web |title=Continental System Napoleon British Embargo Napoleon's 1812 |url=http://www.economicexpert.com/a/Continental:policy.htm |url-status=dead |archive-url=https://web.archive.org/web/20110710165750/http://www.economicexpert.com/a/Continental%3Apolicy.htm |archive-date=2011-07-10}}</ref> By the time of the [[Hague Conventions of 1899 and 1907]], diplomats and legal scholars regularly discussed using coordinated economic pressure to enforce international law. This idea was also included in reform proposals by Latin American and Chinese international lawyers in the years leading up to [[World War I]].<ref>{{Cite book|last=Mitchell|first=Ryan Martinez|url=https://books.google.com/books?id=c6KIEAAAQBAJ|title=Recentering the World: China and Transformation of International Law|date=2022|publisher=Cambridge University Press|isbn=978-1-108-49896-8|language=en}}</ref>

One of the most popular suggestions to combat the humanitarian issues that arise from sanctions is the concept of “smart sanctions”, and a lot of research has been done on this concept also known as targeted sanctions. <ref name=":13">'''''Gordon, Joy. “Smart Sanctions Revisited.” ''Ethics & International Affairs'', vol. 25, no. 3, 2011, pp. 315–335., {{doi|10.1017/S0892679411000323.}}'''''</ref> The term "smart sanctions" refers to measures like asset freezes, travel bans, and arms embargoes that aim to target responsible parties like political leaders and elites with the goal of avoiding causing widespread collateral damage to innocent civilians and neighboring nations.<ref name=":13"/>

Though there has been enthusiasm about the concept, as of 2016, the Targeted Sanctions Consortium (TSC) found that targeted sanctions only result in policy goals being met 22% of the time.<ref>'''''Kanji, Laura. "Moving Targets: The Evolution and Future of Smart Sanctions." ''Harvard International Review'' 37.4 (2016): 39-4239–42. ProQuest. Web. 30 Nov. 2023'''''</ref>

Smart Sanctions have also not been totally successful in avoiding civilian harm or unintended consequences.<ref name=":13" /> For example, arms embargoes can impact the self-defense efforts of those under attack, aviation bans can affect a nation's transportation sector and the jobs of civilians associated with them, and financial sanctions targeting individuals raise due process issues. <ref name=":13" /> One example of smart sanctions in practice can be seen inwith sanctions imposed by the caseUnited ofStates Russiaon the Russian Federation following the U.S.latter's imposed2014 sanctions,[[Annexation afterof RussiaCrimea seizedby the Russian Federation|annexation of Crimea]], fromwhich Ukrainewere inintended to exert pressure on Russia's financial 2014sector.<ref name=":14">'''''Ashford, Emma. “Not-So-Smart Sanctions: The Failure of Western Restrictions Against Russia.” ''Foreign Affairs'', vol. 95, no. 1, 2016, pp. 114–23114–123. JSTOR, {{JSTOR|43946631}}. Accessed 6 Dec. 2023.'''''</ref> The US wanted to exert pressure on Russia’s financial sector, and put sanctions onresulted ownersin ofAmerican fourcredit Russiancard banks,companies resulting in[[Visa Inc.|Visa]] and [[Mastercard|MasterCard]] suspending all transactions of thosesanctioned Russian banks, effectively canceling the credit cards of ordinary Russian consumers. <ref name=":14" />

The United States [[Embargo of 1807]] involved a series of laws passed by the [[United States Congress|US Congress]] (1806–1808) during the second term of President [[Thomas Jefferson]].<ref>{{cite web | url = http://www.digitalhistory.uh.edu/disp_textbook.cfm?smtID=2&psid=2986 | title = The Embargo of 1807 | author = University of Houston | publisher = digitalhistory.uh.edu | year = 2013 | author-link = University of Houston }}</ref> [[United Kingdom of Great Britain and Ireland|Britain]] and [[First French Empire|France]] were engaged in the [[War of the Fourth Coalition]]; the US wanted to remain [[Neutral country|neutral]] and to trade with both sides, but both countries objected to American trade with the other.<ref>{{cite web |url= http://www2.gcc.edu/dept/econ/ASSC/Papers2005/Embargo1807_Snyder.pdf | title= The Embargo of 1807 Grove City College Grove City, |location=Pennsylvania | publisher= [[Grove City College]] | author1= Aaron Snyder | author2= Jeffrey Herbener | website= gcc.edu | date= December 15, 2004 | url-status= dead | archive-url= https://web.archive.org/web/20130517115213/http://www2.gcc.edu/dept/econ/ASSC/Papers2005/Embargo1807_Snyder.pdf | archive-date= 2013-05-17 }}</ref> American policy aimed to use the new laws to avoid war and to force both France and Britain to respect American rights.<ref>{{cite web | url = http://www.monticello.org/site/research-and-collections/embargo-1807 | title = Embargo of 1807 | publisher = monticello.org | date = April 8, 2013}}</ref> The embargo failed to achieve its aims, and Jefferson repealed the legislation in March 1809.

The United States embargo against Cuba began on March 14, 1958, during the overthrow of dictator [[Fulgencio Batista]] by [[Fidel Castro]] during the [[Cuban Revolution]]. At first, the embargo applied only to arms sales; however, it later expanded to include other imports, eventually extending to almost all trade on February 7, 1962.<ref>{{cite web | url= https://www.archives.gov/federal-register/codification/proclamations/03447.html | title = Proclamation 3447-- – Embargo on all trade with Cuba | author = National Archives and Records Administration | date = 15 August 2016 | publisher = archives.gov | author-link = National Archives and Records Administration }}</ref> Referred to by Cuba as ''"el bloqueo"'' (the blockade),<ref>{{cite news | url= https://www.washingtonpost.com/blogs/blogpost/post/cuba-trade-embargo-turns-50-still-no-rum-or-cigars-though-some-freedom-in-travel/2012/02/07/gIQAKaYfwQ_blog.html | title = Cuba trade embargo turns 50: Still no rum or cigars, though some freedom in travel | author = Elizabeth Flock | newspaper = washingtonpost.com | date = February 7, 2012}}</ref> the US embargo on Cuba remains {{asofas of|2022|lc=on}} one of the longest-standing embargoes in modern history.<ref>{{cite web | url= https://www.npr.org/templates/story/story.php?storyId=15634914 | title = Officially Sanctioned: A Guide to the U.S. Blacklist | author = Eric Weiner | publisher = npr.org | date = October 15, 2007}}</ref> Few of the United States' allies embraced the embargo, and many have argued it has been ineffective in changing Cuban government behavior.<ref>{{cite magazine | url = https://www.forbes.com/sites/realspin/2013/01/16/its-time-for-the-u-s-to-end-its-senseless-embargo-of-cuba/ | title = It's Time For The U.S. To End Its Senseless Embargo Of Cuba | author1= Daniel Hanson | author2= Dayne Batten | author3= Harrison Ealey | magazine = forbes.com | date = January 16, 2013}}</ref> While taking some steps to allow limited economic exchanges with Cuba, American President [[Barack Obama]] nevertheless reaffirmed the policy in 2011, stating that without the granting of improved human rights and freedoms by Cuba's current government, the embargo remains "in the national interest of the United States".<ref>{{cite magazine | url = http://www.theatlanticwire.com/global/2011/09/obama-quietly-renews-us-embargo-cuba/42430/ | title = Obama Quietly Renews U.S. Embargo on Cuba | author = Uri Friedman | magazine = [[The Atlantic]] | date = September 13, 2011 | access-date = August 23, 2017 | archive-date = November 13, 2013 | archive-url = https://web.archive.org/web/20131113220230/http://www.theatlanticwire.com/global/2011/09/obama-quietly-renews-us-embargo-cuba/42430/ | url-status = dead }}</ref>

[[Viktor Yushchenko]], the third president of Ukraine who was elected in 2003, lobbied during his term to gain admission to NATO and the [[Ukraine–European Union relations|EU]].<ref name=":2">{{Cite journal|last=Newnham|first=Randall|date=July 2013|title=Pipeline Politics: Russian Energy Sanctions and the 2010 Ukrainian Elections|journal=[[Journal of Eurasian Studies]]|volume=4|issue=2|pages=115–122|doi=10.1016/j.euras.2013.03.001|doi-access=free}}</ref> Soon after Yushchenko entered office, Russia demanded [[Kyiv]] pay the same rate that it charged [[Western Europe]]an states. This quadrupled Ukraine's energy bill overnight.<ref name=":2" /> Russia subsequently cut off the supply of [[Natural gas in Russia|natural gas]] in 2006, causing significant harm to the [[Economy of Ukraine|Ukrainian]] and [[Economy of Russia|Russian economies]].<ref>{{Cite web|url=http://www.worldpress.org/Europe/3307.cfm|title=Russia-Ukraine 'Gas War' Damages Both Economies - Worldpress.org|website=www.worldpress.org|language=en|access-date=2017-10-27}}</ref> As the Ukrainian economy began to struggle, Yushchenko's approval ratings dropped significantly; reaching the single digits by the [[2010 Ukrainian presidential election|2010 election]]; [[Viktor Yanukovych]], who was more supportive of Moscow won the election in 2010 to become the fourth president of Ukraine. After his election, gas prices were reduced substantially.<ref name=":2" />

The United Nations issues sanctions by consent of the [[United Nations Security Council]] (UNSC) and/or [[United Nations General Assembly|General Assembly]] in response to major international events, receiving authority to do so under Article 41 of Chapter VII of the [[United Nations Charter]].<ref name="UN Sanctions">{{Cite web|url=https://www.un.org/apps/news/story.asp?NewsID=53850#.WfNxURNSyRt|title=UN News - UN sanctions: what they are, how they work, and who uses them|last=Section|first=United Nations News Service|date=2016-05-04|website=UN News Service Section|language=en|access-date=2017-10-27}}</ref> The nature of these sanctions may vary, and include financial, trade, or weaponry restrictions. Motivations can also vary, ranging from humanitarian and environmental concerns<ref>{{Cite web|url=http://www.un.org/apps/news/story.asp?NewsID=37755#.WfNxyxNSyRt|title=UN News - New UN project uses financial incentives to try to save the dugong|last=Section|first=United Nations News Service|date=2011-03-14|website=UN News Service Section|language=en|access-date=2017-10-27}}</ref> to efforts to halt [[nuclear proliferation]]. Over two dozen sanctions measures have been implemented by the United Nations since its founding in 1945.<ref name ="UN Sanctions"/>

On February 26, 2011, the UNSC issued an arms embargo against the Libya through [[United Nations Security Council Resolution 1973|Security Council Resolution 1970]] in response to humanitarian abuses occurring in the [[Libyan Civil War (2011)|First Libyan Civil War]].<ref name=":6">{{Cite web|url=https://www.sipri.org/databases/embargoes/un_arms_embargoes/libya/libya_2011|title=UN Arms embargo on Libya |website=www.sipri.org|language=en|access-date=2017-12-06}}</ref> The embargo was later extended to mid-2018. Under the embargo, Libya has suffered severe inflation because of increased dependence on the private sector to import goods.<ref>{{Cite web|url=http://graduateinstitute.ch/files/live/sites/iheid/files/sites/internationalgovernance/shared/PSIG_images/Sanctions/Templates/Libya%2520I%2520Template.doc|title=Evaluating the Impacts and Effectiveness of Targeted Sanctions|website=graduateinstitute.ch|access-date=2017-12-07}}{{dead link|date=February 2024|bot=medic}}</ref> The sanctions caused large cuts to health and education, which caused social conditions to decrease. Even though the sanctions were in response to human rights, their effects were limited.<ref>{{Cite web|url=http://www.unicefinemergencies.com/downloads/eresource/docs/Sanctions/2011-06-21%20Literature%20Review%20on%20the%20Effects%20of%20Targeted%20Sanctions.docx|title=webcache.googleusercontent.com/search?q=cache:Cw9j0nFWr-8J:www.unicefinemergencies.com/downloads/eresource/docs/Literature Review on the Effects of Targeted Sanctions/2011-06-21%2520Literature%2520Review%2520on%2520the%2520Effects%2520of%2520Targeted%2520Sanctions.docx+&cd=5&hl=en&ct=clnk&gl=us&client=safari|last=UNICEF|website=www.unicefinemergencies.com|access-date=2017-12-07|archive-date=2019-05-04|archive-url=https://web.archive.org/web/20190504113351/http://www.unicefinemergencies.com/downloads/eresource/docs/Sanctions/2011-06-21%20Literature%20Review%20on%20the%20Effects%20of%20Targeted%20Sanctions.docx|url-status=dead}}</ref>

{{cite web|url= http://history.navy.mil/photos/events/wwii-pac/pearlhbr/pearlhbr.htm|archive-url= https://web.archive.org/web/20001206155000/http://history.navy.mil/photos/events/wwii-pac/pearlhbr/pearlhbr.htm|url-status= dead|archive-date= 6 December 2000|title= Pearl Harbor Raid, 7 December 1941|date= 3 December 2000|publisher= Department of the Navy --– Naval Historical Center|access-date= 20 July 2019|location= Washington|quote= The 7 December 1941 Japanese raid on Pearl Harbor was one of the great defining moments in history. A single carefully-planned and well-executed stroke removed the United States Navy's battleship force as a possible threat to the Japanese Empire's southward expansion. [...] The Japanese military, deeply engaged in the seemingly endless war it had started against China in mid-1937, badly needed oil and other raw materials. Commercial access to these was gradually curtailed as the conquests continued. In July 1941 the Western powers effectively halted trade with Japan. From then on, as the desperate Japanese schemed to seize the oil and mineral-rich East Indies and Southeast Asia, a Pacific war was virtually inevitable.}}</ref>

In 2010, the [[European Union]] made the decision to [[Sanctions against Iran|sanction]] [[Iran]] due to their involvement in their [[Nuclear program of Iran|nuclear program]].<ref name="loc.gov">{{Cite web |title=European Union: Renewed Sanctions Against Iran |url=https://www.loc.gov/item/global-legal-monitor/2010-08-09/european-union-renewed-sanctions-against-iran/ |access-date=2023-12-18 |website=Library of Congress, Washington, D.C. 20540 USA}}</ref> Theresa Papademetriou states the exact restrictions the EU posed on Iran, "prohibition on the provision of insurance, increased restrictions on and notifications needed for transfers of [[Funding|funds]] to and from Iran, restrictions on the supply of or traffic in technology and equipment to be used in certain [[oil]] and gas fields and prohibition of [[investment]] in such fields, expansion of the list of goods and technology whose supply to Iran is either subject to prior authorization or is completely banned and new [[Visa policy|visa]] restrictions.” <ref>{{Cite web |titlename=European Union: Renewed Sanctions Against Iran |url=https://www."loc.gov"/item/global-legal-monitor/2010-08-09/european-union-renewed-sanctions-against-iran/ |access-date=2023-12-18 |website=Library of Congress, Washington, D.C. 20540 USA}}</ref> Also in 2010, the UN Council imposed sanctions on Iran due to their involvement in their nuclear program. <ref>{{Cite web |last=Sen |first=Ashish |date=2018-05-08 |title=A Brief History of Sanctions on Iran |url=https://www.atlanticcouncil.org/blogs/new-atlanticist/a-brief-history-of-sanctions-on-iran/ |access-date=2023-12-18 |website=Atlantic Council |language=en-US}}</ref> These sanctions banned Iran from carrying out tests on their nuclear weapons and imposed an embargo on the transfer of weapons into the country. <ref>{{Cite web |last=Sen |first=Ashish |date=2018-05-08 |title=A Brief History of Sanctions on Iran |url=https://www.atlanticcouncil.org/blogs/new-atlanticist/a-brief-history-of-sanctions-on-iran/ |access-date=2023-12-18 |website=Atlantic Council |language=en-US}}</ref> These sanctions resulted in drastic macroeconomic downturns for the Iranian economy including volatility in [[Gross domestic product|GDP]], increase in [[unemployment]], and increase in [[inflation]].<ref>{{Cite journal |lastlast1=Sashi |firstfirst1=Sivramkrishna |last2=Bhavish |first2=Sharma |date=2019-12-01 |title=Macroeconomic Implications of US Sanctions on Iran: A Sectoral Financial Balances Analysis |url=http://dx.doi.org/10.2478/sbe-2019-0053 |journal=Studies in Business and Economics |volume=14 |issue=3 |pages=182–204 |doi=10.2478/sbe-2019-0053 |issn=2344-5416|doi-access=free }}</ref>

* In response to intelligence analysis alleging Russian hacking and interference with the 2016 US elections, President Obama expanded presidential authority to sanction in response to cyber activity that threatens democratic elections.<ref>{{cite web|url=httphttps://thehill.com/policy/cybersecurity/274594-obama-extends-cyber-sanctions-powers/|title=Obama extends cyber sanctions power|first=Cory|last=Bennett|date=29 March 2016}}</ref> Given that the original order was intended to protect critical infrastructure, it can be argued that the election process should have been included in the original order.

*India by the UK due to nuclear exports restriction<ref name="UKnuclear">[{{Cite web |title=India and Pakistan (Nuclear Exports) |url=http://www.berr.gov.uk/whatwedo/europeandtrade/strategic-export-control/sanctions-embargoes/by-country/india-pakistan/index.html Pakistan and|url-status=dead India UK nuclear exports restrictions] {{webarchive|archive-url=https://web.archive.org/web/20100218045356/http://www.berr.gov.uk/whatwedo/europeandtrade/strategic-export-control/sanctions-embargoes/by-country/india-pakistan/index.html |archive-date=2010-02-Feb 18, 2010 |website=BIS}}</ref>

*Mali total embargo by [[ECOWAS]] in 2012 to force the junta to return power to the civilian government and re-install the National constitution<ref>{{cite news |author=Lydia Polgreen |date=April 2, 2012 |title=Mali Coup Leaders Suffer Sanctions and Loss of Timbuktu |newspaper=The New York Times |url-access=subscription |url=https://www.nytimes.com/2012/04/03/world/africa/rebels-take-timbuktu-in-mali.html |url-status=live |archive-url=https://web.archive.org/web/20240201182715/https://www.nytimes.com/2012/04/03/world/africa/rebels-take-timbuktu-in-mali.html |archive-date= Feb 1, 2024 }}</ref><ref>Callimachi, Rukmini (3 April 2012) [https://web.archive.org/web/20120404171138/http://www.theglobeandmail.com/news/world/post-coup-mali-hit-with-sanctions-by-african-neighbours/article2390504/ "Post-coup Mali hit with sanctions by African neighbours"]. ''The Globe and Mail''. Retrieved 4 May 2012.</ref>

*[[North Vietnam]] (and then unified [[Vietnam]]) trade embargo by the US (1964–1994)<ref>{{cite news |last=Cockburn |first=Patrick |date=February 4, 1994 |title=US finally ends Vietnam embargo |work=The Independent |location=London |url=https://www.independent.co.uk/news/world/us-finally-ends-vietnam-embargo-1391770.html |url-status=live |archive-url= https://web.archive.org/web/20240224192311/https://www.independent.co.uk/news/world/us-finally-ends-vietnam-embargo-1391770.html |archive-date= Feb 24, 2024 }}</ref>

* [[2017 Qatar diplomatic crisis|Qatar]] by [[Saudi Arabia]], [[United Arab Emirates]], [[Bahrain]], and [[Egypt]] due to Qatar's alleged support for terrorist organizations (2017–2021)<ref>{{Cite web |title=International: United Nations Welcomes Loosening of Sanctions in Gulf Region |url=https://www.loc.gov/item/global-legal-monitor/2021-02-17/international-united-nations-welcomes-loosening-of-sanctions-in-gulf-region/ |access-date=2022-06-16 |website=Library of Congress, Washington|date=Feb 17, D.C.2021 |last1= Boomer 20540|first1=Elizabeth USA}}</ref>

*Serbia by Kosovo's unilaterally declared government in 2011<ref>{{cite news|url=http://sofiaecho.com/2011/07/21/1127258_kosovo-imposes-embargo-on-serbia|title=Kosovo imposes embargo on Serbia|date=21 July 2011|work=The Sofia Echo|access-date=2 January 2016 |url-status=dead |archive-url=https://web.archive.org/web/20160304191608/http://sofiaecho.com/2011/07/21/1127258_kosovo-imposes-embargo-on-serbia |archive-date= Mar 4, 2016 }}</ref>

*[[Sanctions against Yugoslavia|Yugoslavian sanctions]] by the UN in response to the [[Bosnian War]] (1992–2001)<ref>{{Cite journal |title=Mandala de Elegua (|date=2005) by|first1= Sandra María |last1=Esteves. Personal archive|publisher=University of SandraMichigan MaríaPress Ebook Collection Esteves. |url=http://dx.doi.org/10.3998/mpub.6710954.cmp.21 |journal=Nuyorican Feminist Performance: From the Café to Hip Hop Theater |access-date=2022-06-27 |doi=10.3998/mpub.6710954.cmp.21 }}</ref><ref>{{Cite web |last1=Sukovic |first1=Danilo |last2=Jovanovic |first2=Predrag |date=2001 |title=A Decade Under Sanctions |url=https://www.transparentnost.org.rs/stari/dokumenti/d012.html |website=transparentnost.org.rs |access-date=27 June 2022 |archive-date=27 December 2022 |archive-url=https://web.archive.org/web/20221227113131/https://www.transparentnost.org.rs/stari/dokumenti/d012.html |url-status=dead }}</ref>

* [[Paul Krugman|Krugman, Paul]], "The American Way of Economic war: Is Washington Overusing Its Most Powerful Weapons?" (review of [[Henry Farrell (political scientist)|Henry Farrell]] and [[Abraham L. Newman|Abraham Newman]], ''Underground Empire: How America Weaponized the World Economy'', Henry Holt, 2023, 288 pp.), ''[[Foreign Affairs]]'', vol. 103, no. 1 (January/February 2024), pp. &nbsp;150–156. "The [U.S.] dollar is one of the few currencies that almost all major banks will accept, and... the most widely used... As a result, the dollar is the currency that many companies must use... to do international business." (p. &nbsp;150.) "[L]ocal banks facilitating that trade... normally... buy U.S. dollars and then use dollars to buy [another local currency]. To do so, however, the banks must have access to the U.S. financial system and... follow rules laid out by Washington." (pp. &nbsp;151–152.) "But there is another, lesser-known reason why the [U.S.] commands overwhelming economic power. Most of the world's [[fiber-optic cables]], which carry data and messages around the planet, travel through the United States." (p. &nbsp;152.) "[T]he U.S. government has installed 'splitters': [[prism (optics)|prism]]s that divide the beams of light carrying information into two streams. One... goes on to the intended recipients, ... the other goes to the [[National Security Administration|National Security Agency]], which then uses high-powered [[computation]] to analyze the data. As a result, the [U.S.] can monitor almost all international communication." (p. &nbsp;154) This has allowed the U.S. "to effectively cut [[Iran]] out of the world financial system... Iran's economy stagnated... Eventually, Tehran agreed to cut back its [[nuclear reactor|nuclear]] programs in exchange for relief." (pp. &nbsp;153–154.) "[A] few years ago, American officials... were in a panic about [the Chinese company] [[Huawei]]... which... seemed poised to supply [[5G]] equipment to much of the planet [thereby possibly] giv[ing] China the power to eavesdrop on the rest of the world – just as the [U.S.] has done.... The [U.S.] learned that Huawei had been dealing surreptitiously with Iran – and therefore violating U.S. sanctions. Then, it... used its special access to information on international bank data to [show] that [Huawei]'s [[chief financial officer]], [[Meng Wanzhou]] (... the founder's daughter), had committed [[bank fraud]] by falsely telling the British [[financial services company]] [[HSBC]] that her company was not doing business with Iran. Canadian authorities, acting on a U.S. request, arrested her... in December 2018. After... almost three years under house arrest... Meng... was allowed to return to China... But by [then] the prospects for Chinese dominance of 5G had vanished..." (pp. &nbsp;154–155.) Farrell and Newman, writes Krugman, "are worried about the possibility of [U.S. ''Underground Empire''] overreach. [I]f the [U.S.] weaponizes the dollar against too many countries, they might... band together and adopt alternative methods of international payment. If countries become deeply worried about U.S. spying, they could lay fiber-optic cables that bypass the [U.S.]. And if Washington puts too many restrictions on American exports, foreign firms might turn away from U.S. technology." (p. &nbsp;155.)

* Stevenson, Tom, "First Recourse for Rebels" (review of Nicholas Mulder, ''The Economic Weapon: The Rise of Sanctions as a Tool of Modern War'', Yale, 2022, {{ISBN|978 0 300 25936 0}}, 434 pp.), ''[[London Review of Books]]'', vol. 44, no. 6 (24 March 2022), pp. &nbsp;25–29. "US sanctions are based on monopoly power over a global commons: the world's reserve currency and medium of exchange." (p. &nbsp;25.) "At some point the US may no longer be in a position to exploit its financial centrality as it does now. For large parts of the world that moment will be cause for celebration." (p. &nbsp;29.)

* [https://www.sciencedirect.com/science/article/abs/pii/S0014292120301914 The Global Sanctions Data Base (GSDB)]<ref>{{Cite web|title=Global Sanctions Database - GSDB|url=https://www.globalsanctionsdatabase.com/|access-date=2021-05-18|website=www. globalsanctionsdatabase.com}}</ref><ref>{{Cite web|last1=Felbermayr|first1=Gabriel|last2=Kirilakha|first2=Aleksandra|last3=Syropoulos|first3=Constantinos|last4=Yalcin|first4=Erdal|last5=Yotov|first5=Yoto|date=2021-05-18|title=The 'Global Sanctions Data Base': Mapping international sanction policies from 1950-2019|url=https://voxeu.org/article/global-sanctions-data-base-mapping-international-sanction-policies-1950-2019|access-date=2021-05-18|website=VoxEU.org}}</ref><ref>{{Cite journal|last1=Kirikakha|first1=Aleksandra|last2=Felbermayr|first2=Gabriel J.|last3=Syropoulos|first3=Constantinos|last4=Yalcin|first4=Erdal|last5=Yotov|first5=Yoto V.|date=2021-12-10|title=The Global Sanctions Data Base (GSDB): an update that includes the years of the Trump presidency|url=https://www.elgaronline.com/view/edcoll/9781839102714/9781839102714.00010.xml|journal=Research Handbook on Economic Sanctions|pages=62–106|language=en-US|doi=10.4337/9781839102721.00010|isbn=9781839102721|s2cid=245356746}}</ref>