E.U. and U.S. Sanctions on Venezuela: The Likely Effectiveness of a New Collaborative Crackdown on Sanctions Evasion

August 24, 2020
By: Ingo Steinhaeuser, Director of Financial & Risk, Refinitiv *

Following the departure or ejection of its ambassador to Venezuela in June 2020, the European Union added 11 leading Venezuelan officials to the E.U. sanctions list. The individuals have been deemed responsible for acting against the democratic functions of the Venezuelan National Assembly, notably stripping the parliamentary immunity of several members, including its President, Juan Guaidó. (more…)

Smuggler’s Paradise: How Venezuela is Using “Blood Gold” to Circumvent U.S. Sanctions

August 21, 2020
By: Jack Walsh, Reporter ACSS

Over the past five years, a combination of rock-bottom oil prices and heavy U.S. sanctions on Venezuela’s oil industry has caused the South American country’s economy to crater. In the absence of formerly prolific oil revenues, gold exports serve as one of the last remaining financial lifelines for Venezuela’s embattled president, Nicolás Maduro, and his political allies. (more…)

Sanctioned Nations Investigate Launching Cryptocurrency to Evade Sanctions

November 7, 2019 By: Natasha Bright, ACSS Reporter

Last month, there were news reports that claimed that North Korea was developing its own cryptocurrency. Like many things related to the secretive nation, there are not many details available. However, if true, that would make the country the latest to dabble in the creation of a sovereign coin that could potentially be used to evade sanctions. Venezuela, Iran, and Russia have also explored this option to varying degrees. Although, as yet, not successfully.

The Good, the Bad, and the Ugly: The Unintended Consequences of Sanctions from a Population Perspective

August 09, 2019 By: Glenda Juliano*, CAMS

The U.S. currently maintains economic sanctions against many countries. Frequently criticized and often viewed as a paradox of U.S. foreign policy, economic sanctions are nevertheless quickly becoming the tool of choice for many countries.  Sanctions are so popular in fact that many states and municipalities within the U.S. have also begun to implement their own sanctions regimes. In 2000, the U.S. Supreme Court unanimously held in Crosby v. National Foreign Trade Council that a Massachusetts law restricting state transactions with firms doing business in Burma was preempted by federal statute.


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