Since the outbreak of the Ukraine crisis,the European Union(EU)has imposed multiple rounds of systematic economic sanctions on Russia,covering key areas such as finance,energy,trade,and technology,in an attempt to wea...Since the outbreak of the Ukraine crisis,the European Union(EU)has imposed multiple rounds of systematic economic sanctions on Russia,covering key areas such as finance,energy,trade,and technology,in an attempt to weaken Russia's war capacity.In response,Russia has taken forceful measures,legitimizing its counteractions through legal tools,hedging EU sanctions with economic and financial instruments,and leveraging resources as a“weapon.”Additionally,Russia has reinforced its defense through internal structural adjustments,seeking strategic breakthroughs by diversifying foreign relations.These measures have effectively mitigated the impact of EU sanctions,increased EU costs in carrying out the sanctions,and prevented the EU from achieving its intended political objectives.Currently,Russia's military operation in Ukraine continues,with its foreign cooperation pattern and development path undergoing significant shifts.Specifically,Russia is accelerating its“turn to the East”in terms of foreign economic relations,and its development model is becoming increasingly conservative and security-oriented.As its confrontation with the EU enters a prolonged phase,Russia,while striving to maintain overall economic stability,faces numerous challenges and long-term risks threatening its economic transformation and reorientation of foreign cooperation.The difficulties awaiting its future counteractions will even increase.展开更多
The use of economic sanctions as a foreign policy tool dates back to the Megarian decree of 432 BC,but has long been controversial.Economic sanctions are commonly employed by governments as a coercive tool to adjust t...The use of economic sanctions as a foreign policy tool dates back to the Megarian decree of 432 BC,but has long been controversial.Economic sanctions are commonly employed by governments as a coercive tool to adjust the behavior of a state actor that is in violation of international behavior norms,yet there remains concern as to the effectiveness of applying economic sanctions and the extent to which sanctions should be applied.Further questions arise regarding both the viability and morality of sanctions.This paper will examine case studies to determine the moral,economic,and political impact of imposing sanctions on state actors.In doing so,this paper will specifically examine the economic sanctions applied to South Africa,Iran,and Crimea.It will examine the application of sanctions and the effectiveness in achieving established foreign policy goals,while also analyzing the impact on innocents to determine the ethical implications of sanctions.展开更多
In 2022,the United States stepped up its sanctions on Russia.Most notably,it restricted the flow of the Russian Central Bank's foreign exchange(forex)assets,using financial administrative power as a source of stra...In 2022,the United States stepped up its sanctions on Russia.Most notably,it restricted the flow of the Russian Central Bank's foreign exchange(forex)assets,using financial administrative power as a source of strategic leverage.This move should have reduced the appeal of US dollar assets but in reality has not accelerated as expected the decline of the greenback as a store of value.The US dollar's share of global forex reserves increased instead of decreased during 2022 and 2023.Despite the rise of economic costs caused by tightened US financial sanctions,countries that recognize the geopolitical role of the United States have further accepted the dollar's international status;their continued willingness to live with the dollar's“security premium”has given a fillip to the US dollar in the short term,boosting its appeal as a reserve currency.Meanwhile,de-dollarization of forex reserves has yet to reach a sufficient scale,thus falling short of significantly challenging the dollar's reign.From a longer-term perspective,as economic and security conditions shift,countries that accept the dollar's international role or seek de-dollarization may change their choices.As a result,four possible scenarios may arise:(i)the preeminence of the US dollar remains unthreatened;(ii)the international monetary system splits into blocs;(iii)the international monetary system fragments;and(iv)the dollar loses its throne.The author believes that the last scenario is the most likely outcome.展开更多
Since the Crimean crisis, the US has continuously tightened financial sanctions on Russia. In the short term, this doesn't appear to be working very effectively, but in the long run, it has indeed had an irreversi...Since the Crimean crisis, the US has continuously tightened financial sanctions on Russia. In the short term, this doesn't appear to be working very effectively, but in the long run, it has indeed had an irreversible impact on the Russian economy. Though the US has repeatedly upgraded its sanction plans, four puzzles have long remained unsolved: appropriate sanctions have avoided a humanitarian crisis, but raised moral dilemmas; actual enforcement of sanctions is getting more and more difficult; EU cooperation with the US is vital, but the two regions more often than not play different tunes; and the frequent use of sanctions weakens US legitimacy and integrity, leading to a degradation of the sanction mechanism. Sanctions have continued to be implemented since President Trump took office, but with some new adjustments.展开更多
In this paper, we analyze direct and indirect effects of economic sanctions on I. R. Iran’s economic growth from 1979 to 2012 focusing on the external sector of the economy. Our data for variables except for sanction...In this paper, we analyze direct and indirect effects of economic sanctions on I. R. Iran’s economic growth from 1979 to 2012 focusing on the external sector of the economy. Our data for variables except for sanction are derived from 1966 to 2012 and a dummy variable is used for each sanction’s beginning years. The designed model is based on the endogenous growth models in which we analyze the effects by 2SLS econometric method. Our findings indicate that economic sanctions have not directly affected Iran’s economic growth so much. These effects have been indirect through restricting total imports, capital goods imports, imports of intermediate goods and primary products and also the export leading to decreased economic growth of the country.展开更多
Environmental,Social,and Governance(ESG)concerns have gained centrality in the airline industry’s strategic and regulatory landscape.While prior research has explored the effect of voluntary ESG disclosures on firm v...Environmental,Social,and Governance(ESG)concerns have gained centrality in the airline industry’s strategic and regulatory landscape.While prior research has explored the effect of voluntary ESG disclosures on firm valuation,the market impact of regulatory ESG sanctions remains underexamined-particularly in sectors with high regulatory scrutiny like aviation.This study investigates stock market responses to 45 ESG-related enforcement actions issued by EU and UK regulators against 15 publicly listed airlines between 2000 and 2024.Using a standard event study methodology,we find significant negative abnormal returns,with cumulative losses exceeding-3.5%in the[-5,+5]event window.Governance-related sanctions trigger the most severe investor responses,while social sanctions,though more frequent,have a more moderate impact.A clear temporal decay effect is also observed:the longer the delay between misconduct and public disclosure of the sanction,the smaller the market reaction-indicating information leakage and gradual price adjustment.This study adds new evidence on how ESG sanctions affect airline valuations,showing that compliance and transparency matter financially in a heavily regulated industry,like aviation.展开更多
Economic sanctions have emerged as critical instruments of geopolitical strategy, with significant ramifications for global energy markets, innovation trajectories, and the transition to sustainable energy systems. Th...Economic sanctions have emerged as critical instruments of geopolitical strategy, with significant ramifications for global energy markets, innovation trajectories, and the transition to sustainable energy systems. This study offers a qualitative synthesis of literature and case studies spanning 2000–2025 to evaluate how sanctions affect major energy producers such as Russia, Iran, and Venezuela. The analysis reveals that sanctions disrupt energy supply chains, restrict access to foreign investment and advanced technologies, and constrain integration into global financial systems. Simultaneously, they trigger adaptive responses, including domestic innovation efforts, clandestine export practices, and new geopolitical alliances. A key finding is the paradox of sanctions in shaping energy transitions. While sender states, particularly in Europe, have accelerated renewable energy adoption to reduce their dependence on sanctioned fossil fuels, target states often experience technological stagnation and entrenched reliance on conventional hydrocarbons. Notably, sanctions have stimulated localized innovation in some contexts, such as Iran's refining technologies and Venezuela's shadow fleet logistics. The study also identifies gaps in current scholarship, especially regarding the long-term governance implications of sanctions, the emergence of parallel energy markets aligned with BRICS and OPEC+, and the uneven global distribution of green investments. By integrating political realism and social constructivism, the research highlights the dual character of sanctions as both coercive instruments and inadvertent catalysts of systemic energy change. These findings call for a more nuanced policy approach that balances geopolitical objectives with sustainable energy security.展开更多
China-Zimbabwe collaboration is creating new opportunities for innovation and development of youth Zimbabwe’s development has long faced obstacles linked to Western economic sanctions,measures that many view as unjus...China-Zimbabwe collaboration is creating new opportunities for innovation and development of youth Zimbabwe’s development has long faced obstacles linked to Western economic sanctions,measures that many view as unjust or unlawful.Yet,despite these constraints,Zimbabwe remains a nation rich in natural resources and endowed with a highly educated population,with its youth standing out as a particularly dynamic force.展开更多
The sanctions imposed by the G10 countries on financial institutions in Russia,including on its central bank,mil come under scrutiny by emerging market central banks.This will help them build appropriate safeguards ag...The sanctions imposed by the G10 countries on financial institutions in Russia,including on its central bank,mil come under scrutiny by emerging market central banks.This will help them build appropriate safeguards against disruptions to cross-border transactions and revise their investment mandates to reduce the risk of reserve asset freezes.Building new1 financial market infrastructure and cross-border payment systems,or strengthening existing ones,will become the priority of emerging global powers.The goal will be to build systems that support democratic governance mechanisms,have oversight arrangements involving the central banks of trusted countries,and promote fair and safe access to clearing and settlement under well-defined policy guidelines.The use of alternatives to the US dollar as the invoicing currency in international trade will gather momentum.Markets for energy and other commodities will be the change drivers.China has an important role to play.展开更多
文摘Since the outbreak of the Ukraine crisis,the European Union(EU)has imposed multiple rounds of systematic economic sanctions on Russia,covering key areas such as finance,energy,trade,and technology,in an attempt to weaken Russia's war capacity.In response,Russia has taken forceful measures,legitimizing its counteractions through legal tools,hedging EU sanctions with economic and financial instruments,and leveraging resources as a“weapon.”Additionally,Russia has reinforced its defense through internal structural adjustments,seeking strategic breakthroughs by diversifying foreign relations.These measures have effectively mitigated the impact of EU sanctions,increased EU costs in carrying out the sanctions,and prevented the EU from achieving its intended political objectives.Currently,Russia's military operation in Ukraine continues,with its foreign cooperation pattern and development path undergoing significant shifts.Specifically,Russia is accelerating its“turn to the East”in terms of foreign economic relations,and its development model is becoming increasingly conservative and security-oriented.As its confrontation with the EU enters a prolonged phase,Russia,while striving to maintain overall economic stability,faces numerous challenges and long-term risks threatening its economic transformation and reorientation of foreign cooperation.The difficulties awaiting its future counteractions will even increase.
文摘The use of economic sanctions as a foreign policy tool dates back to the Megarian decree of 432 BC,but has long been controversial.Economic sanctions are commonly employed by governments as a coercive tool to adjust the behavior of a state actor that is in violation of international behavior norms,yet there remains concern as to the effectiveness of applying economic sanctions and the extent to which sanctions should be applied.Further questions arise regarding both the viability and morality of sanctions.This paper will examine case studies to determine the moral,economic,and political impact of imposing sanctions on state actors.In doing so,this paper will specifically examine the economic sanctions applied to South Africa,Iran,and Crimea.It will examine the application of sanctions and the effectiveness in achieving established foreign policy goals,while also analyzing the impact on innocents to determine the ethical implications of sanctions.
文摘In 2022,the United States stepped up its sanctions on Russia.Most notably,it restricted the flow of the Russian Central Bank's foreign exchange(forex)assets,using financial administrative power as a source of strategic leverage.This move should have reduced the appeal of US dollar assets but in reality has not accelerated as expected the decline of the greenback as a store of value.The US dollar's share of global forex reserves increased instead of decreased during 2022 and 2023.Despite the rise of economic costs caused by tightened US financial sanctions,countries that recognize the geopolitical role of the United States have further accepted the dollar's international status;their continued willingness to live with the dollar's“security premium”has given a fillip to the US dollar in the short term,boosting its appeal as a reserve currency.Meanwhile,de-dollarization of forex reserves has yet to reach a sufficient scale,thus falling short of significantly challenging the dollar's reign.From a longer-term perspective,as economic and security conditions shift,countries that accept the dollar's international role or seek de-dollarization may change their choices.As a result,four possible scenarios may arise:(i)the preeminence of the US dollar remains unthreatened;(ii)the international monetary system splits into blocs;(iii)the international monetary system fragments;and(iv)the dollar loses its throne.The author believes that the last scenario is the most likely outcome.
文摘Since the Crimean crisis, the US has continuously tightened financial sanctions on Russia. In the short term, this doesn't appear to be working very effectively, but in the long run, it has indeed had an irreversible impact on the Russian economy. Though the US has repeatedly upgraded its sanction plans, four puzzles have long remained unsolved: appropriate sanctions have avoided a humanitarian crisis, but raised moral dilemmas; actual enforcement of sanctions is getting more and more difficult; EU cooperation with the US is vital, but the two regions more often than not play different tunes; and the frequent use of sanctions weakens US legitimacy and integrity, leading to a degradation of the sanction mechanism. Sanctions have continued to be implemented since President Trump took office, but with some new adjustments.
文摘In this paper, we analyze direct and indirect effects of economic sanctions on I. R. Iran’s economic growth from 1979 to 2012 focusing on the external sector of the economy. Our data for variables except for sanction are derived from 1966 to 2012 and a dummy variable is used for each sanction’s beginning years. The designed model is based on the endogenous growth models in which we analyze the effects by 2SLS econometric method. Our findings indicate that economic sanctions have not directly affected Iran’s economic growth so much. These effects have been indirect through restricting total imports, capital goods imports, imports of intermediate goods and primary products and also the export leading to decreased economic growth of the country.
文摘Environmental,Social,and Governance(ESG)concerns have gained centrality in the airline industry’s strategic and regulatory landscape.While prior research has explored the effect of voluntary ESG disclosures on firm valuation,the market impact of regulatory ESG sanctions remains underexamined-particularly in sectors with high regulatory scrutiny like aviation.This study investigates stock market responses to 45 ESG-related enforcement actions issued by EU and UK regulators against 15 publicly listed airlines between 2000 and 2024.Using a standard event study methodology,we find significant negative abnormal returns,with cumulative losses exceeding-3.5%in the[-5,+5]event window.Governance-related sanctions trigger the most severe investor responses,while social sanctions,though more frequent,have a more moderate impact.A clear temporal decay effect is also observed:the longer the delay between misconduct and public disclosure of the sanction,the smaller the market reaction-indicating information leakage and gradual price adjustment.This study adds new evidence on how ESG sanctions affect airline valuations,showing that compliance and transparency matter financially in a heavily regulated industry,like aviation.
文摘Economic sanctions have emerged as critical instruments of geopolitical strategy, with significant ramifications for global energy markets, innovation trajectories, and the transition to sustainable energy systems. This study offers a qualitative synthesis of literature and case studies spanning 2000–2025 to evaluate how sanctions affect major energy producers such as Russia, Iran, and Venezuela. The analysis reveals that sanctions disrupt energy supply chains, restrict access to foreign investment and advanced technologies, and constrain integration into global financial systems. Simultaneously, they trigger adaptive responses, including domestic innovation efforts, clandestine export practices, and new geopolitical alliances. A key finding is the paradox of sanctions in shaping energy transitions. While sender states, particularly in Europe, have accelerated renewable energy adoption to reduce their dependence on sanctioned fossil fuels, target states often experience technological stagnation and entrenched reliance on conventional hydrocarbons. Notably, sanctions have stimulated localized innovation in some contexts, such as Iran's refining technologies and Venezuela's shadow fleet logistics. The study also identifies gaps in current scholarship, especially regarding the long-term governance implications of sanctions, the emergence of parallel energy markets aligned with BRICS and OPEC+, and the uneven global distribution of green investments. By integrating political realism and social constructivism, the research highlights the dual character of sanctions as both coercive instruments and inadvertent catalysts of systemic energy change. These findings call for a more nuanced policy approach that balances geopolitical objectives with sustainable energy security.
文摘China-Zimbabwe collaboration is creating new opportunities for innovation and development of youth Zimbabwe’s development has long faced obstacles linked to Western economic sanctions,measures that many view as unjust or unlawful.Yet,despite these constraints,Zimbabwe remains a nation rich in natural resources and endowed with a highly educated population,with its youth standing out as a particularly dynamic force.
文摘The sanctions imposed by the G10 countries on financial institutions in Russia,including on its central bank,mil come under scrutiny by emerging market central banks.This will help them build appropriate safeguards against disruptions to cross-border transactions and revise their investment mandates to reduce the risk of reserve asset freezes.Building new1 financial market infrastructure and cross-border payment systems,or strengthening existing ones,will become the priority of emerging global powers.The goal will be to build systems that support democratic governance mechanisms,have oversight arrangements involving the central banks of trusted countries,and promote fair and safe access to clearing and settlement under well-defined policy guidelines.The use of alternatives to the US dollar as the invoicing currency in international trade will gather momentum.Markets for energy and other commodities will be the change drivers.China has an important role to play.
