The Sanctions Age

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 humanitarian impact of sanctions is crucial for assessing their true cost and evaluating whether they are truly effective. Erica Moret has conducted extensive research to demonstrate how sanctions can hamper access to basic human needs, like food and medicine. She has also helped foster dialogue and devise solutions to mitigate those humanitarian consequences. Erica is the Policy Director at PoliSync–Centre for International Policy Engagement, and the Coordinator of the Sanctions and Sustainable Peace Hub at the Geneva Graduate Institute. The Sanctions Age is hosted by Esfandyar Batmanghelidj. The show is produced by Spiritland Productions and is supported by a grant from the Hollings Center for International Dialogue. To receive an email when new episodes are released, access episode transcripts, and read Esfandyar's notes on each episode, sign-up for the The Sanctions Age newsletter on Substack: https://www.thesanctionsage.com/ [https://www.thesanctionsage.com/]

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 behaviors to conform with American guidance. Stephen Fallon has spent his whole career dealing with the exigencies of US financial regulations. In his view, American regulators are not simply influencing global banks, they have captured them. Stephen has worked in senior compliance roles at the global advisory firm EY and the global bank Credit Suisse. Between 2019 and 2023 he was the Chief Compliance Officer of INSTEX, a unique state-owned company established to try and sustain European trade with Iran following President Trump’s unilateral withdrawal from the nuclear deal. Most recently, Stephen has completed a master’s degree at Cambridge University, drawing on his professional experiences to write a thesis examining how US authorities came to exert extraordinary control over global banks. The Sanctions Age is hosted by Esfandyar Batmanghelidj. The show is produced by Spiritland Productions and is supported by a grant from the Hollings Center for International Dialogue. To receive an email when new episodes are released, access episode transcripts, and read Esfandyar's notes on each episode, sign-up for the The Sanctions Age newsletter on Substack: https://www.thesanctionsage.com/ [https://www.thesanctionsage.com/]

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 transfer, intellectual property, and innovation are threatening American businesses and workers” and complained that “China is also flooding global markets with artificially low-priced exports.” The statement points to a new dynamic between the United States and China, and the ways in which President’s Biden’s international economy policy considers economic competition with China through a national security lens. Gerard DiPippo is an expert on the Chinese economy, with unique insights on how Chinese economic policy can undermine American interests. He is the Senior Geo-Economics Analyst for Bloomberg Economics. He was previously a senior fellow at the Center for Strategic & International Studies. Prior to that, he spent 11 years in the U.S. Intelligence Community at the Central Intelligence Agency and National Intelligence Council. The Sanctions Age is hosted by Esfandyar Batmanghelidj. The show is produced by Spiritland Productions and is supported by a grant from the Hollings Center for International Dialogue. To receive an email when new episodes are released, access episode transcripts, and read Esfandyar's notes on each episode, sign-up for the The Sanctions Age newsletter on Substack: https://www.thesanctionsage.com/ [https://www.thesanctionsage.com/]

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 and export controls imposed on a growing list of countries, including major economies like Iran and Russia, multinational companies have had to scale back or even exit markets. Now, CEOs are wondering where sanctions might hit next and how they can shield their businesses from emerging risks. Henry is a partner at Control Risks, where he leads the company’s business intelligence and due diligence practice in EMEA. Henry advises global companies on how to adjust acquisition and growth strategies in the face of a changing sanctions landscape. The Sanctions Age is hosted by Esfandyar Batmanghelidj. The show is produced by Spiritland Productions and is supported by a grant from the Hollings Center for International Dialogue. To receive an email when new episodes are released, access episode transcripts, and read Esfandyar's notes on each episode, sign-up for the The Sanctions Age newsletter on Substack: https://www.thesanctionsage.com/ [https://www.thesanctionsage.com/]

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 make it harder to build a durable peace after conflict. Delaney’s research has focused on the effects of sanctions on peacebuilding. She is a Senior Analyst at the International Crisis Group, where she leads the group’s research on sanctions. She is the author of a report published last year titled “Sanctions, Peacemaking and Reform: Recommendations for U.S. Policymakers." Before joining Crisis Group, she worked for the United Nations in Afghanistan, Lebanon, and Yemen. The Sanctions Age is hosted by Esfandyar Batmanghelidj. The show is produced by Spiritland Productions and is supported by a grant from the Hollings Center for International Dialogue. To receive an email when new episodes are released, access episode transcripts, and read Esfandyar's notes on each episode, sign-up for the The Sanctions Age newsletter on Substack: https://www.thesanctionsage.com/ [https://www.thesanctionsage.com/]