Extending Economic Sanctions: the Financial War on Terror

Kern Alexander

Chapter 10 in Economic Sanctions, 2009, pp 278-301 from Palgrave Macmillan

Abstract: Abstract Targeted financial sanctions have become the policy of choice for developed countries that seek to limit collateral economic and social costs that broader economic sanctions programmes cause. Financial sanctions usually take the form of asset freezes, blocking orders, and restrictions on foreign exchange and fund transfers. They can be targeted specifically against foreign states, foreign institutions, and foreign transactions and accounts. They can result in administrative, civil and criminal liability and penalties against targeted business entities and individuals. Financial sanctions have generally been used as part of broader economic sanctions programmes and have attracted much attention in recent years as an alternative economic sanctions weapon that can avoid the widespread social costs and human misery that arose from the UN sanctions programme against Iraq.

Keywords: Financial Institution; Terrorist Group; Foreign Bank; Economic Sanction; Financial Crime (search for similar items in EconPapers)
Date: 2009
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-22728-6_11

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DOI: 10.1057/9780230227286_11

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