Submission Statement: Russia has been effective at evading European sanctions through parallel imports and reexports, filling a $70 billion gap. Ēriks Selga argues that the current EU sanctions regime is too weak and inconsistent because it relies on enforcement at the national level, where authorities have differing interpretations and approaches, so a single powerful European authority needs to be established to harmonize rules, close loopholes, pursue criminal prosecutions, and ensure sanctions cannot be circumvented through complex corporate structures and shell companies – much like the successful single EU authority created for anti-money laundering.
Major_Wayland on
Sanctions are a means of exerting pressure that should be used carefully. If you use them carelessly or impose them long-term or, worse still, permanently, you most likely are doing something wrong and only creating the initiative to create competing trade networks that are independent of you. And these networks would grow rapidly with the number of sanctioned countries. Nothing screams “I don’t understand economics” more than the call for broad application of sanctions.
[deleted] on
[removed]
Stoneollie on
We deiced to ban trading with our big neighbour who sells all the grain & all the oil, then wander why our economies crash…
4 Comments
Submission Statement: Russia has been effective at evading European sanctions through parallel imports and reexports, filling a $70 billion gap. Ēriks Selga argues that the current EU sanctions regime is too weak and inconsistent because it relies on enforcement at the national level, where authorities have differing interpretations and approaches, so a single powerful European authority needs to be established to harmonize rules, close loopholes, pursue criminal prosecutions, and ensure sanctions cannot be circumvented through complex corporate structures and shell companies – much like the successful single EU authority created for anti-money laundering.
Sanctions are a means of exerting pressure that should be used carefully. If you use them carelessly or impose them long-term or, worse still, permanently, you most likely are doing something wrong and only creating the initiative to create competing trade networks that are independent of you. And these networks would grow rapidly with the number of sanctioned countries. Nothing screams “I don’t understand economics” more than the call for broad application of sanctions.
[removed]
We deiced to ban trading with our big neighbour who sells all the grain & all the oil, then wander why our economies crash…