April 15, 2016

Top Treasury Official Warns Against Over-Reliance on Sanctions

Though the Obama administration has often resorted to financial sanctions to coerce foreign adversaries into better behavior, a top Treasury official warned Friday that overusing the measures risks damaging the long-term vitality of the U.S. economy and the economies of friendly nations.

“Sanctions are not a silver bullet, or the solution to every foreign policy crisis,” Adam Szubin, the acting undersecretary of Treasury for terrorism and financial intelligence, said in an address at the Center for a New American Security. “Even when sanctions do work, they can come with negative side effects.”

Read the full article in Foreign Policy.