TOOLS FOR OUR TIME: ECONOMIC STATECRAFT SINCE RUSSIA’S INVASION - The response to Russia’s invasion of Ukraine has created new precedents for economic statecraft. The United States and Western allies have deployed economic tools to weaken Russia’s economy and curb its military advancement. These range from new sanctions against individuals and firms to export controls on technology and the blocking of hundreds of billions in Central Bank reserves. 2022 has also seen the United States ratchet up pressure on Iran as it negotiates its way back into the nuclear deal. It has also invoked the powerful Foreign Direct Product Rule to deprive China of access to state-of-the-art semiconductors that Beijing could use for military purposes.
This special event marked the first anniversary of our Economic Statecraft Initiative and two years since the launch of the Atlantic Council’s GeoEconomics Center at the Atlantic Council. Looking back on 2022, we discussed how the four pillars of economic statecraft – sanctions, export controls, investment screening, and capital markets – have evolved this year and what to expect in 2023. This event formally launched our new report on Russia’s domestic economy, nine months after Russia’s launched its war in Ukraine.
ORIGINAL AIRDATE: 11/30/22