Legal Mechanisms and Legal Challenges in U.S.Financial Sanctions against Russia
After the outbreak of the Russia-Ukraine conflict in 2022,the U.S.and western countries have imposed unprecedented large-scale and multi-level financial sanctions against Russia.Financial sanctions are becoming an important strategic weapon in the game of great powers.The comprehensive upgrade of financial sanctions against Russia demonstrates a new trend in the development of financial sanctions,which involves the comprehensive use of multiple sanctions while strengthening exclusionary sanctions,achieving precise strikes through targeted expansion of the scope of sanctions,and focusing on the use of multi-party collaboration to enhance the effectiveness of sanctions.The evolution of American financial sanctions against Russia reflects the legal mechanism for the effective implementation of American financial sanctions laws,that is,to formulate a series of financial sanctions laws with extraterritorial effect based on the principle of"long-arm jurisdiction",build a hierarchical system of laws and regulations,and establish a multi-dimensional law enforcement path for financial sanctions,so as to fully guarantee the effective implementation of financial sanctions laws from three aspects:joint enforcement by many countries,extraterritorial application of domestic laws and forcing third parties to take the initiative to abide by them.The financial sanctions imposed by the U.S.on Russia itself are controversial in the legality of international law,and there are even more legal problems in the specific sanctions,such as obvious violation of the basic principles of international law and excessive extraterritorial law enforcement leading to jurisdictional conflicts.The abuse of financial sanctions has brought many challenges to the current international law.
U.S.RussiaFinancial SanctionLegal Mechanism of SanctionsLong-arm Jurisdiction
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