The weaponisation of the US financial system: How can Europe respond?

  • US secondary sanctions present a unique challenge for Europe. These measures limit where European firms can operate, hinder the EU’s ability to maintain its foreign commitments, and limit Europe’s ambitions of achieving strategic sovereignty. The US’s re-imposition of secondary sanctions on Iran in May 2018 has highlighted this issue. With geopolitical tensions rising, it is possible that the US could impose secondary sanctions on larger EU trading partners. In light of this possibility, this paper explores why secondary sanctions are so effective and offers concrete proposals to counter them.

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Document Type:Working Paper
Author(s):Edward KnudsenORCiD
Publication year:2020
Publishing Institution:Hertie School
Number pages:21
Related URL:
Release Date:2020/06/18
Hertie School Research:Jacques Delors Centre
Jacques Delors Centre / Policy Papers
Licence of document (German):Creative Commons - CC BY - 4.0 International
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