Restrictive measures: a question of adequacy or a failure of targeted measures?

Daniel Cookman

Journal of Money Laundering Control, 2024, vol. 27, issue 7, 13-25

Abstract: Purpose - This paper aims to discuss the adequacy of restrictive measures. Providing a synopsis of a global movement toward the imposition of target restrictive measures. Questioning the success of targeted restrictive measures in obtaining behavioural change. Identifying a reversion to the implementation of wide ranging sectoral restrictive measures in an attempt to encourage immediate behavioural change. Accessing the success of using restrictive measures to encourage democratic regimes in Africa. Design/methodology/approach - This study is a desktop research that examines European Parliament and Council issued Regulations for the jurisdictions of Iran, Russia and Belarus. Academic research is also used in identifying a pendulum swing by global legislatures with respect to the imposition of targeted measures to requiring the imposition of additional wide ranging sectoral measures. Findings - Targeted measures can be circumvented using non-hostile third countries. Academic research identifies that wide reaching sectoral sanctions encourage regime change. Therefore, where targeted measures fail to give rise to their desired persuasive objectives. The legislator moves to introduce additional measures, also comprising of sectoral sanctions. Sectoral sanctions have been applied by the European Union in Iran, Russia and Belarus. The USA has taken measures to limit Russia ability to use Turkey as a transshipment hub. The African continent case study identifies the importance of creating an architecture founded on upholding positive governance and human rights standards. Failure to do so leads to a revolving system of authoritarian regimes, sanctioned by restrictive measures. Originality/value - This paper is a desktop review composed by the author.

Keywords: Restrictive measures; Financial sanctions; Targeted measures; Sectoral measures (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:eme:jmlcpp:jmlc-12-2023-0195

DOI: 10.1108/JMLC-12-2023-0195

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