A New Era of Sanctions: Their Impact, Consequences and Future Evolution

The Ukraine War marks a watershed in the deployment of sanctions. For the first time, G7 allies targeted a large economy; in addition to having the world’s eighth largest nominal GDP, Russia is a major global commodity exporter with a global footprint. The sanctions imposed on Russia since February 2022 were not just greater in scale and scope than those imposed previously, but different in kind. But how much of an innovation were they, and what clues do they offer for the future role of sanctions as a tool of policy?

Episode contributors:

Agathe Demarais, Senior Policy Fellow, European Council on Foreign Relations

Brad Setser, Whitney H. Shepherdson Senior Fellow, Council on Foreign Relations

Series moderator:

Sam Lowe, Partner and Head of the Trade and Market Access Practice, Flint Global

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