The paradigm shift in international sanctions policy after the end of the Cold War and the 9/11 attacks necessitated the EU to adopt targeted "smart" sanctions against persons involved in terrorism financing.
PRIF Study No. 23 "Finanzsanktionen der EU. Eine politikwissenschaftliche und bankpraktische Effektivitätsanalyse ausgewählter Maßnahmen" by Indranil Ganguli examines the historical and political foundations as well as the effectiveness of select measures from a politological, legal and banking practitioner’s perspective.
The author concludes that the regime lacks effectiveness. This is due to inherent legal deficiencies, associated uncertainties as well as compliance risks which banks have to face while executing the measures. The study identifies approaches for a comprehensive reform of EU’s financial sanctions regime as an instrument of economic statecraft and provides valuable insights to researchers, political decision-makers and banking practitioners for their work.
This PRIF study is available at Nomos Publishing House.