Includes bibliographical references and index.

Part One. Sanctions genesis. From embargoes to sanctions: a brief history -- Hitting where it hurts: the era of financial sanctions -- Hit and miss: why sanctions sometimes work, but more often fail -- Part Two. Sanctions crossfire. Collateral damage: when sanctions kill -- Sanctions overreach: when foreign firms get caught in the crossfire -- Sanctions overkill: when sanctions crash global commodities markets -- Sanctions disputes: when Russian gas pipelines divide allies -- Part Three. Sanctions blues. Sanctions busting, avoidance schemes from US friends and foes -- Doing down the dollar: the rise of digital coins and other reserve currencies -- High-tech future: are export controls the sanctions of tomorrow? -- When sanctions work too well: why decoupling from China would backfire -- Conclusion.

"Sanctions have become a go-to diplomatic tool for the US, be it against Iran, Russia or Turkey. However, sanctions come with unexpected, global side-effects that are rarely discussed. All of these side-effects have a meaningful impact on businesses, financial markets and governments. First, US sanctions are pushing countries that are at odds with the US, such as Turkey, Russia and Iran, closer to each other, with massive consequences on traditional alliances, such as NATO. Second, Russia and China directly benefit from US sanctions, as targeted countries are turning to Moscow and Beijing for strategic deals. Third, US sanctions can have unforeseen ripple effects on America's allies, which often fuels resentment against the US. In this book, sanctions expert Agathe Demarais presents a fresh take on U.S. sanctions from the outside, exploring how international relations, energy markets, and the global economy writ large is shaken in unforeseen ways when the U.S. decides to use sanctions as a political weapon"--