Book contents
- The Cambridge Handbook of Secondary Sanctions and International Law
- The Cambridge Handbook of Secondary Sanctions and International Law
- Copyright page
- Contents
- Figures
- Contributors
- 1 Introduction
- Part I Secondary Sanctions
- Part II Secondary Sanctions and General Public International Law
- Part III Secondary Sanctions and International Economic Law
- Part IV Secondary Sanctions in Commercial Practices and Domestic Litigation
- Part V The Future of Secondary Sanctions
- 17 Secondary Sanctions
- 18 US Secondary Sanctions, the Informal Economy, and the Cryptocurrency Disruption
- 19 Secondary Sanctions after Russia’s Invasion of Ukraine
- Index
19 - Secondary Sanctions after Russia’s Invasion of Ukraine
A Whole New World?
from Part V - The Future of Secondary Sanctions
Published online by Cambridge University Press: 14 December 2024
- The Cambridge Handbook of Secondary Sanctions and International Law
- The Cambridge Handbook of Secondary Sanctions and International Law
- Copyright page
- Contents
- Figures
- Contributors
- 1 Introduction
- Part I Secondary Sanctions
- Part II Secondary Sanctions and General Public International Law
- Part III Secondary Sanctions and International Economic Law
- Part IV Secondary Sanctions in Commercial Practices and Domestic Litigation
- Part V The Future of Secondary Sanctions
- 17 Secondary Sanctions
- 18 US Secondary Sanctions, the Informal Economy, and the Cryptocurrency Disruption
- 19 Secondary Sanctions after Russia’s Invasion of Ukraine
- Index
Summary
This chapter explores how the imposition of unprecedented sanctions against Russia following the large-scale invasion of Ukraine in 2022 and the constant cat-and-mouse game of enforcement and evasion that ensued have altered the secondary sanctions landscape. More specifically, it examines to what extent, notwithstanding its longstanding and entrenched opposition to far-reaching US secondary sanctions, the European Union has gradually moved towards adding a ‘secondary’ layer to its own sanctions toolbox. The chapter first exposes the EU’s ambiguity towards extraterritoriality, both within and without the sanctions domain. It subsequently zooms in on a number of specific EU measures, namely the imposition of the so-called ‘price cap’ on Russian oil, the adoption of far-reaching import and export restrictions, including the prohibition to import certain Russian products even after these are located or have already been processed in third countries, and the threat of financial sanctions against, and criminal prosecution of, non-EU persons that facilitate the circumvention of EU sanctions against Russia. It then offers some concluding observations.
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- Publisher: Cambridge University PressPrint publication year: 2024