CEMLA is the oldest regional association of central banks; current membership includes 49 central banks. There are 11 member central banks in EMEAP, including the People's Bank of China. 13 See OECD, http://www.oecd.org/general/2504075.pdf, p. 39.
CEMLA is the oldest regional association of central banks; current membership includes 49 central banks. There are 11 member central banks in EMEAP, including the People's Bank of China. 13 See OECD, http://www.oecd.org/general/2504075.pdf, p. 39.
This chapter uses the Iran and Russia cases to understand how modern U.S. financial sanctions operate (including how they interact with traditional tools of foreign policy) and how to better incorporate them into the United States’ standing arsenal of foreign policy tools. It does so by considering three broad sets of questions: First, how has the use of financial sanctions evolved over the past fifteen years? Second, what are the main ways in which financial sanctions impose costs on sanctioned countries? Finally, how should U.S. policymakers alter the use of financial sanctions to maximize their impact, sustain their strength, and minimize problematic side effects?
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