CGIS South Building, 1730 Cambridge Street, Room S354
Over the years, sanctions have become a favorite instrument of foreign policy. For a sanctioning state, like the United States, it is the easiest and cheapest way to inflict a hard blow to the oil-dependent economies of other nations such the Islamic Republic of Iran and the Russian Federation, at the height of a political crisis. Thus, bans on oil imports, limitations on technical assistance and access to specific technologies, capital market restrictions, and the prohibition of transactions dealing with new long-term debts are commonplace. Sanctions against Iranian and Russian energy sectors have created a bleak outlook for their energy industries. They threaten a crippling domino effect by bringing national economies into a tailspin. For Tehran and Moscow, sanctions have become a modus vivendi. Consequently, these two countries, which are highly dependent on oil revenues and access to export markets, are trying to get around long-lasting sanctions to protect their interests. Are there mechanisms that could be implemented to fight back and shield core groups from the impact of long-standing sanctions? Are Iran and Russia learning from each other’s mistakes and successes? Most importantly, what are the European Union and Asian countries, as well as international oil companies, doing about it?
Sponsored by the Davis Center for Russian and Eurasian Studies.
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