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Extending Economic Sanctions: the Financial War on Terror

In: Economic Sanctions

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  • Kern Alexander

Abstract

Targeted financial sanctions have become the policy of choice for developed countries that seek to limit collateral economic and social costs that broader economic sanctions programmes cause. Financial sanctions usually take the form of asset freezes, blocking orders, and restrictions on foreign exchange and fund transfers. They can be targeted specifically against foreign states, foreign institutions, and foreign transactions and accounts. They can result in administrative, civil and criminal liability and penalties against targeted business entities and individuals. Financial sanctions have generally been used as part of broader economic sanctions programmes and have attracted much attention in recent years as an alternative economic sanctions weapon that can avoid the widespread social costs and human misery that arose from the UN sanctions programme against Iraq.

Suggested Citation

  • Kern Alexander, 2009. "Extending Economic Sanctions: the Financial War on Terror," Palgrave Macmillan Books, in: Economic Sanctions, chapter 10, pages 278-301, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-0-230-22728-6_11
    DOI: 10.1057/9780230227286_11
    as

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