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The Sanctions Age
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 controls, and investment restrictions, including China, Russia, Iran, Venezuela, and Syria.
The Sanctions Age invites the people who understand sanctions best—economists, historians, lawyers, policymakers, and journalists—to explain their use and significance. Understanding sanctions is the key to understanding politics and economics today.
We are living in The Sanctions Age.
The Sanctions Age
Episode 3: Daniel McDowell and Maria Shagina
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 continue to churn out weapons using imported parts and machinery. Meanwhile, growing antagonism between China and the United States has spurred Chinese officials to worry about their vulnerability to US financial sanctions and therefore question the dollar’s dominant role in the global economy. China has begun developing an alternative financial infrastructure, which could one day undermine the dollar’s unique role in international trade.
With the stakes higher than ever before, sanctions circumvention is garnering greater attention from policymakers, researchers, and journalists. But a handful of experts have studied these issues for over a decade. They have unique insights to share.
Daniel McDowell is an associate professor at Syracuse University’s Maxwell School of Citizenship and Public Affairs. He is also the author of Bucking the Buck: U.S. Financial Sanctions and the International Backlash Against the Dollar, which was published last year.
Maria Shagina is the Diamond-Brown Research Fellow for Economic Sanctions, Standards and Strategy at the International Institute for Strategic Studies.
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/