As of May 3, the United States has 7,967 sanctions in place, reports The Atlantic.
According to the Treasury Department data, there are sanctions on individuals, companies, and even on entire governments or their branches. The use of sanctions is growing and US uses them to influence certain individuals and countries. However, experts claim that using sanctions too often may be risky for America.
One of the risks is that many world banks may stop “running their financial plumbing through New York.” Jarret Blanc, a senior fellow in the Geoeconomics and Strategy Program at the Carnegie Endowment for International Peace, says that right now “even if a company has basically no trade in the United States, their banks do. And so they basically can’t be banked if they are trading with a country that has been targeted with these very powerful US sanctions.” Yet if banks decide they can no longer rely on the US, “all of a sudden the power of our sanctions is dramatically reduced,” says Blanc.
The New York Times reported in 2014 that back then US had around 2,000 sanctions in place. Since 2014 Obama White House introduced many sanctions on Iranian companies and individuals, Trump’s administration added more, and the list of sanctions is to be expanded. Last November Donald Trump imposed 700 sanctions in one day.
Not all of the sanctions imposed are of the same effect. Some of them have great impact while others can pass unnoticed.
Natalia Veselnitskaya – official website