Alan Cafruny, the Henry Platt Bristol Professor of International Affairs, recently published a chapter in the Routledge Handbook of the Political Economy of Sanctions, edited by Ksenia Kirkham.
Cafruny said the chapters in this volume “explore historical and theoretical approaches to sanctions, now affecting directly 54 countries and 29% of global GDP. Mostly enacted by the United States, the sanctions are often illegal under international law, and harmful not only to developing countries but also increasingly to Europe.”
His contribution appears in a section of the book on “Third Parties: The Impact of Secondary Sanctions.” In “The U.S. Sanctions Offensive: Implications for ‘Third Parties’ and the Transatlantic Relationship,” he shows that “proliferation of U.S. extraterritorial or secondary sanctions illustrates vividly the formidable structural economic power of the United States based on dollar supremacy and the size and significance of the U.S. consumer market.”
“U.S. sanctions and other forms of coercive economic statecraft directed against Russia, Iran, and China are imposing increasingly significant collateral damage on Europe while benefiting U.S. corporations,” Cafruny notes.