14/02/2023
International sanction mechanisms through the financial system: an economic weapon against Putin.- Ana Núñez Cifuentes
After the armed aggression against Ukraine on February 24, 2022, the international community reactivates its policy of international sanctions against Russia with the purpose of weakening the economic capacity of the country and limiting the possibilities of the Kremlin in its intention to invade Ukraine. The financial system and the SWIFT coding therefore constitute the key weapons for the global isolation of its economy and therefore a brake on the financing of the war. However, although the objective is to pursue the commercial siege of the Federation, the consequences of the economic war also pose a threat to political and commercial stability in the Union as a whole. Will the European Union be able to win a war by hitting economic sanctions?
Document prepared by Ana Núñez Cifuentes. Analyst in Prevention of Money Laundering and Terrorist Financing. Master in International Affairs, Universidad Pontificia de Comillas.