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The Sanctions Age is a podcast that explores how sanctions are changing the world. Twenty years ago, the U.S. Department of Treasury had imposed sanctions on fewer than 1,000 companies and individuals. Today, more than 10,000 entities have been targeted. Leaders around the world are imposing sanctions in response to wars, nuclear proliferation, terrorism, human rights violations, and technological competition. As a result, a growing list of countries are targeted by sanctions, export control ...
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In just about every country that has been targeted by a major sanctions program—including Cuba, Iran, Iraq, Syria, and Venezuela, to name a few—we can observe significant humanitarian consequences. Sanctions contribute to shortages of essential goods, hinder access to healthcare, and exacerbate poverty and social instability. Understanding the huma…
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Stephen Fallon on how American regulators captured global banks. US authorities have taken advantage of the unique position of the dollar in the global economy to exercise significant control over the global financial system. When the U.S. introduces new financial regulations or sanctions regimes, global banks take notice, and tend to modify their …
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Gerard DiPippo on the intensifying economic competition between the United States and China. When the White House recently announced it would increase tariffs on a range of Chinese goods, it used striking language to explain why the measures were necessary. The White House statement claimed that “China’s unfair trade practices concerning technology…
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Henry Smith on how global CEOs are navigating the sanctions landscape. In recent decades, multinational companies have pursued market opportunities around the world, creating complex supply chains and financial structures in the process. But what was once a world of expanding opportunity is increasingly a world of encroaching risks. With sanctions …
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Delaney Simon on the challenges of peacebuilding in the wake of sanctions. Sanctions are not meant to last forever. When diplomatic negotiations bring a dispute or conflict to an end, it may be time to lift sanctions imposed in response to that conflict. Unfortunately, sanctions can be difficult to lift, and they have lingering effects that can mak…
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Episode 5: Maximilian Hess and Nicholas Mulder
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49:52
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Maximilian Hess and Nicholas Mulder have spent a lot of time thinking about economic weapons and economic war, especially in the context of Ukraine. Their writings have graced the pages of the New York Times, the Financial Times, Foreign Affairs, and Foreign Policy. If there are trenches in economic wars, then Max and Nick two of the best correspon…
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Javad Shamsi on how firms adapt to sanctions. The U.S. sanctions on Iran target sectors across the country’s economy, including the energy, manufacturing, and banking sectors. In addition, hundreds of Iranian companies have been designated, meaning they have been singled out with targeted sanctions. Despite this expansive sanctions regime, very few…
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Episode 3: Daniel McDowell and Maria Shagina
44:28
44:28
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Daniel McDowell and Maria Shagina on how states evade and undermine sanctions. The stakes around sanctions circumvention have never been higher. The Russian invasion of Ukraine has made sanctions evasion a matter of life or death. Russia continues to use export revenues to fund its war economy, and, despite trade restrictions, Russian factories con…
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Episode 2: Henry Farrell and Abraham Newman
49:22
49:22
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Henry Farrell and Abraham Newman on weaponizing Interdependence in a globalized world. In 2019, Henry Farrell and Abraham Newman published a paper titled “Weaponized Interdependence,” which quickly became one of the most widely cited papers about economic coercion. The paper spurred scholars and policymakers to recognise how the networks that under…
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Saleha Mohsin on how the strong dollar became the weaponized dollar. Over the last few decades, the Department of Treasury has transformed from an institution that managed the dollar, government budgets, and issued bonds into an institution playing a critical role in US national security. At the heart of this transformation was cast of characters—l…
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