Impact of US Financial Sanctions on the Dollar's International Status

In 2022,the United States stepped up its sanctions on Russia.Most notably,it restricted the flow of the Russian Central Bank's foreign exchange(forex)assets,using financial administrative power as a source of strategic leverage.This move should have reduced the appeal of US dollar assets but in reality has not accelerated as expected the decline of the greenback as a store of value.The US dollar's share of global forex reserves increased instead of decreased during 2022 and 2023.Despite the rise of economic costs caused by tightened US financial sanctions,countries that recognize the geopolitical role of the United States have further accepted the dollar's international status;their continued willingness to live with the dollar's“security premium”has given a fillip to the US dollar in the short term,boosting its appeal as a reserve currency.Meanwhile,de-dollarization of forex reserves has yet to reach a sufficient scale,thus falling short of significantly challenging the dollar's reign.From a longer-term perspective,as economic and security conditions shift,countries that accept the dollar's international role or seek de-dollarization may change their choices.As a result,four possible scenarios may arise:(i)the preeminence of the US dollar remains unthreatened;(ii)the international monetary system splits into blocs;(iii)the international monetary system fragments;and(iv)the dollar loses its throne.The author believes that the last scenario is the most likely outcome.

Economic Sanctions:A Political,Economic,and Normative Analysis

The use of economic sanctions as a foreign policy tool dates back to the Megarian decree of 432 BC,but has long been controversial.Economic sanctions are commonly employed by governments as a coercive tool to adjust the behavior of a state actor that is in violation of international behavior norms,yet there remains concern as to the effectiveness of applying economic sanctions and the extent to which sanctions should be applied.Further questions arise regarding both the viability and morality of sanctions.This paper will examine case studies to determine the moral,economic,and political impact of imposing sanctions on state actors.In doing so,this paper will specifically examine the economic sanctions applied to South Africa,Iran,and Crimea.It will examine the application of sanctions and the effectiveness in achieving established foreign policy goals,while also analyzing the impact on innocents to determine the ethical implications of sanctions.

The Characteristics of the Trump Administration's Sanctions

The Trump administration heavily relies on economic sanctions to solve diplomatic problems. Those sanctions are far more protrusive than the ones enforced by his predecessors in terms of scale and scope of the intended target. The Trump administration has manufactured many new programs for sanctions and has attached much importance to imposing sanctions on entities that violate human rights. It also has increased its use of secondary sanctions, export controls and investment restrictions. Both sanction-related criminal enforcement and fines have hit new heights. The main reason for this strategy is that Trump and his economic team are keen on waging a"money war."Meanwhile, sanctions can appeal to Trump’s requirements for quick, easy achievements, and can also contain and suppress opponents. The economic impact of these sanctions is obvious,while the political impact is still questionable. These sanctions have harmed the US alliance system and boosted the de-dollarization trend in the global economy, which makes it increasingly difficult for the United States to achieve its prospective goals in the future.

US Financial Sanctions on Russia： Do They Work？

Since the Crimean crisis, the US has continuously tightened financial sanctions on Russia. In the short term, this doesn't appear to be working very effectively, but in the long run, it has indeed had an irreversible impact on the Russian economy. Though the US has repeatedly upgraded its sanction plans, four puzzles have long remained unsolved: appropriate sanctions have avoided a humanitarian crisis, but raised moral dilemmas; actual enforcement of sanctions is getting more and more difficult; EU cooperation with the US is vital, but the two regions more often than not play different tunes; and the frequent use of sanctions weakens US legitimacy and integrity, leading to a degradation of the sanction mechanism. Sanctions have continued to be implemented since President Trump took office, but with some new adjustments.

Analyzing Direct and Indirect Effects of Economic Sanctions on I. R. Iran Economic Growth: Focusing on the External Sector of the Economy

In this paper, we analyze direct and indirect effects of economic sanctions on I. R. Iran’s economic growth from 1979 to 2012 focusing on the external sector of the economy. Our data for variables except for sanction are derived from 1966 to 2012 and a dummy variable is used for each sanction’s beginning years. The designed model is based on the endogenous growth models in which we analyze the effects by 2SLS econometric method. Our findings indicate that economic sanctions have not directly affected Iran’s economic growth so much. These effects have been indirect through restricting total imports, capital goods imports, imports of intermediate goods and primary products and also the export leading to decreased economic growth of the country.

US economic and trade sanctions against China: A loss-loss confrontation

The economic and trade sanctions implemented by the United States(US)against China have lasted for a few decades and the structural imbalance of the US–China trade relationship has ultim-ately been escalated to a trade war recently.We examine the eco-nomic impacts of US sanctions against China on both sponsor and target countries during the last 20 years.We find that such impacts have significantly changed over time.On one hand,US economic sanctions have gradually extended from China’s labour-intensive to high value-added products and they have largely slowed down China’s trade growth for the last decade.On the other hand,US consumers and businesses have faced higher pri-ces and production costs for Chinese imports(or import substi-tutes)in the wake of the increasing US trade sanctions,leading to great deadweight losses to the sponsor country.In addition,US economic and trade sanctions against China have largely impacted other economies involved in US–China trade as well.The intermediary status of the Hong Kong SAR has been greatly challenged.Overall,US economic and trade sanctions have caused pain on both China and the US,but their impact on China(the target country)has been largely weakened.

Can Monetary Policy Undo Asset-freezing Sanctions?

This article investigates the macroeconomic consequences of foreign asset-freezing sanctions,a tool utilized by several Western nations amid recent geopolitical tensions.Specifically,it examines the repercussions of such sanctions on open economies,finding that they may experience a sharp recession and currency crisis.To quantify the impact,we develop a new Keynesian dynamic stochastic general equilibrium model with financial frictions and an asset-freezing channel for an open economy.We also calibrate our model to capture the unique structures of the Russian economy.The quantitative analysis of the model demonstrates that an abrupt asset-freezing sanction would lead to large output losses and high inflation increases.Our counterfactual examination reveals that higher elasticity of import substitution and lower elasticity of export substitution could alleviate the impact of foreign sanctions,whereas more aggressive monetary policy may have positive but limited stabilization effects.Notably,the monetary authority must navigate a trade-off between stabilizing output and managing inflation resulting from the cash-in-advance channel.

The Threat of Financial Sanctions:What Safeguards Can Central Banks Build?

The sanctions imposed by the G10 countries on financial institutions in Russia,including on its central bank,mil come under scrutiny by emerging market central banks.This will help them build appropriate safeguards against disruptions to cross-border transactions and revise their investment mandates to reduce the risk of reserve asset freezes.Building new1 financial market infrastructure and cross-border payment systems,or strengthening existing ones,will become the priority of emerging global powers.The goal will be to build systems that support democratic governance mechanisms,have oversight arrangements involving the central banks of trusted countries,and promote fair and safe access to clearing and settlement under well-defined policy guidelines.The use of alternatives to the US dollar as the invoicing currency in international trade will gather momentum.Markets for energy and other commodities will be the change drivers.China has an important role to play.

U.S.Sanctions

The U.S.Treasury Department said on August 31 that it would impose new sanctions on the DPRK. The new sanctions concern four individuals and eight entities. The department said three individuals and five entities were designated as supporting the DPRK’s nuclear program,while the rest were involved in "facilitating the DPRK’s trafficking in arms and related material,procurement of luxury goods,and engagement in illicit activities."

Education Under Siege: Exploring How International Economic Sanctions Create Crises of Pedagogy

Purpose:This article examines the adverse impact of international economic sanctions on pedagogy.The article considers the contemporary times as a period of misinformation,false news,and untruths.Utilizing anti-hegemonic literature,international economic sanctions are viewed as neoliberalism's instrument of coercion,a Western weapon used to enforce Western values on thosewithdifferentperceptions toward thefreemarket system.Design/Approach/Methods:This article utilizes critical scholarship to unmask authoritarian neoliberalism and a scoping review of sanctioned societies.Critical analytics are deployedto interpret and make sense of the dominant educational policy framework that appears to be against diversity.Findings:Neoliberalism has caused a crisis in pedagogy.Education is under siege as academics and scientific evidence are being disregarded.The call is for pedagogues from all over the world to continue to avail evidence to power by practicing critical education.Literature is utilized to propose critical pedagogy when scientific evidence is disputed,and non-Western epistemologies are considered anachronous.Originality/Value:Linking sanctions and neoliberalism is relativelynovel,as is the contribution of the same lenses to authoritarian neoliberalism.The assault on divergent epistemologies is critical,and the defense of critical scholarship is every academic's duty.The article joins conversations on the neoliberal assault on education and society.

俄罗斯进口替代战略新动向

After Russia launched the special military operation,Western countries imposed unprecedentedly severe sanctions on Russia,jeopardizing the country’s key industrial sectors.Therefore,Russia has adjusted its mechanism and institution of import strategy,accelerated the revision of industry plans,implemented a series of supporting measures,further promoted the implementation of import substitution strategy,and placed greater emphasis on technical sovereignty,safety-related industries,and non-market means.However,Russia’s import substitution strategy is still constrained by multiple factors,such as limited path choice,weak foundations of industry and technology,and the urgent need to rebuild the production chain and supply chain.However,it should be noted that Russia’s import substitution does not imply allround substitution and comprehensive self-closure,nor will it be a shortterm strategy.Simultaneously,parallel import will become an expedient measure for Russia to replace import substitution in the future,while strengthening cooperation with non-Western countries,particularly Asia-Pacific countries represented by China,is the general trend,so Sino-Russian pragmatic cooperation will bring along new economic growth opportunities.

The Iran Policy of the Trump Administration and Its Impact

Since Donald Trump has come into office as president of the United States, the US foreign policy toward Iran has undergone major changes, which has been prominently manifested in such actions as endorsing hardline advocates who are against Iran to important political offices, withdrawing from the Joint Comprehensive Plan of Action(JCPOA), and imposing high economic, political and military pressure on Iran. The introduction of such policies toward Iran by the Trump administration has not only been brought about by Trump himself, but also influenced by the domestic political environment of the United States.Moreover, it is also closely related to the current changes in the geopolitical landscape of the Middle East. The Iran policy of the Trump administration will likely have multiple impacts, such as giving rise to political instability within Iran, worsening regional security, impacting the international non-proliferation regime, widening the disparity between the US and Europe, and even increasing the possibility of a military conflict breaking out between the US and Iran.

The Formation of Russia-US-EU-China Multipolarity Relations under the Scenario of Ukraine Crisis in the Changing World

This paper is to analyze the changing formation of international security and economic system in the context of geopolitical expansion under the scenario of the Ukraine crisis. The author attempts to destruct the different interactions among Russia, EU, US, and China, founding that through the West economic sanctions the US are obstructing Russia＇s Eurasian policy and EU-Russian trade structures in many areas, especially in the energy sector. The US rebalancing policy might finish under the scenario of improved Russia-China relations because the US might improve their relations with China as well to implement their containment against Russia, whose geopolitical expansion toward Arctic Ocean, and with its developing the Russian Siberia, the Russian Far East Region as part of its global strategic deployment. Russia＇s global deployment is carried out through the integrated mechanism, such as, SCO, BRICS, and Eurasian Economic Union which will start to function in the January of 2015. China seems to be the biggest winner in this geopolitical struggle, because the new scenario of international events, such as Ukraine crisis and extremism of IS movement in Syria and Iraq have changed the target of NATO in the short-term period. The direction of intemational security is changing from the Cold War to anti-extremism-terrorism combat. Therefore, the new direction for Russia-US-EU-China reformulating their security relations will have the long-term influence on regional integration. Its seems to be that the information war and propaganda will be undergoing in the process of this geopolitical expansion gambling that can be seen in the new waves of the West economic sanctions against Russia and new threats from the international terrorism. In this paper, the author does not focus on the informational propaganda but tries to analyze the different characteristics of ambition and interactionamong Russia, EU, US, and China in the scenario of Ukraine crisis in the changing world.

President Trump’s Media Strategy as Was Seen in the Press Conference Following the 2nd 2019 U.S.-North Korea Hanoi Summit

The 2nd U.S.-North Korea Summit between U.S.President Donald Trump and North Korean leader Kim Jong Un was held in Hanoi,Vietnam on February 27 and 28,2019.However,no agreement was made despite high expectations before the summit.The author of this paper,who was involved in the press conference following the summit as an interpreter for a Japanese TV program in Tokyo,recognized that Trump,who often criticizes some media outlets,calling them“fake news”,handled the press respectfully.To answer the question why there is a gap between his attitudes toward various media outlets,this paper examines the interactions between the president and all 21 reporters who were allowed to ask him questions during the Hanoi press conference,focusing on their questions,the organizations they belonged to,and some personal details.President Trump’s extremely well-calculated media strategy is then revealed.

EU＇s Policy on Iran Nuclear Issue and Its Impact on China

The EU has always played an important role in solving Iran nuclear issue, and has different policies in different periods of the issue. During the initial period, the EU proposed that the issue be solved in the framework of the International Atomic Energy Agency （IAEA）, with EU itself playing the role of an active mediator between the US and Iran. When the mediation failed, the EU strongly advocated referring the Iran nuclear issue to the United Nations Security Council （UNSC） for discussion, and due to Iran＇s refusing the demands and promoting its nuclear capability continually, actively pushed forward sanctions against Iran by the UNSC, and began to launch its unilateral sanctions in 2010. Later on, EU sanctions became increasingly severe and reached their highest level in severity in 2012. EU＇s unilateral economic sanctions were one of the main factors that helped to bring about the interim deal on Iran nuclear issue reached on November 24, 2013. EU had seriously practiced the interim Iran nuclear deal and for several times frozen its sanction against Iran, which created good conditions for the comprehensive Iran nuclear deal reached in July 14, 2015. The goals of the EU＇s policy toward Iran nuclear issue changed constantly, which was mainly shown by changes in EU＇s perception of Iran＇s nuclear rights. EU＇s policy on Iran nuclear issue has had some impact on China which on the whole is mainly reflected by the fact that the policy of the EU aggravates the discords overt or covert between EU and China over international norms.

Does Anyone Benefit？ - A Quantitative Effect Analysis on US Punitive Tariffs on Chinese PV Imports from a Global Perspective

Financial support from National Science Foundation for Distinguished Youth （Grant No.70925006）, National Natural Sciences Fund Program （Grant No.71103059）, Humanities and Social Sciences Youth Program of the Ministry of Education （Grant No. 10YJC7902930）, is gratefully acknowledged. Authors highly appreciate the comments of anonymous reviewers and take sole responsibility for this paper.

The Essence of Optimism of The Economists and Investors with Regard to the Economy of Russia

The gross domestic product of Russia,expressed in US dollars,indicates problems in the Russian economy associated with the decline in oil prices on the world energy market and the consequences of the sanctions of the United States and the European Union against Russia.The crisis situation of the Russian economy has a negative impact on the income of the population of country,represented mainly by wages.However,an economist or investor may be optimistic about Russian economic development in the medium term.This optimism is related to the economic policy of the United States.The expansion of the United States economy within the global space,based on economic growth,requires maintaining inflation within the target level and weakening the US dollar.These tasks are solved with the help of soft monetary policy of the US Federal Reserve System.The reduction of interest rates by the US Federal Reserve System against the background of inflation of the target level and the devaluation of the US dollar will contribute to economic growth in the United States,because it will lead to the depreciation of public debt,lower consumption of imports,increase in exports and trade balance,growth of production,income,consumption.The economic policy of the United States,which contributes to the devaluation of the US dollar,will also reduce the US dollar against the ruble.The optimistic view of investors-economists on the Russian economy is due to a significant strengthening of the ruble against the US dollar.Consequently,in the medium term,the gross domestic product and wages of citizens of Russia,expressed in US dollars,will significantly increase,and the purchasing power of the national currency of the country will also increase.This growth may continue until the next election of a new President of the United States in november 2020.After the election of the new President of the United States,there is a high probability of sanctions against Russia and of decline in oil prices in the world energy market in accordance with the future economic policy of the United States–two main reasons for the sharp strengthening of the US dollar against the ruble,which will cause a deeper economic crisis in Russia in the medium and long term.

Legal System Governing on Water Pollution in Iran

In the present era, water contamination represents one of the considerable environmental problems. Population growth along with ever increasing industrial developments has resulted in the contamination of most of the water resources in the world, bringing about serious problems for humans and other living organisms. According to the human life on earth depends on the way different water resources are exploited, the most important way to preserve the quality of water resources is to codify appropriate regulations and standards and develop plans for proper and principled implementation of them. Therefore, it seems to be necessary to take required actions to manage water resources optimally. In this regard, one of the most significant legal tools is the law. Following a descriptive-analytic approach, the present research aims to consider legal challenges in the context of water contamination briefly. Investigations indicate that, given the limitations in water resources, in future, water contamination will raise serious problems for the country should the solutions and measures required for tackling this issue are not well incorporated into respective regulations. As such, in order to systemize the activities within this scope, it is necessary to codify a comprehensive act about different water-related topics, so as to cover all separate and sparse pieces of regulations on water. Further, acquiring help from experts when preparing the regulations with an emphasis on the inhibitory role of penalties, roles of NGOs and culture-making in the society will contribute to the successful legal protection of the quality of water resources.

The Extension of Hypergame Analysis and Its Application

The hypergame analysis mainly processes the conflict in which one or more of the players are notfully aware of the nature of the conflict situation. it is a kind of qualitative technology which describes thedecieve and anti-decieve strategies.The defect of hypergame analysis appears in that the decision goalcombines with the course of the decision analysis. This paper puts forward the concept 'sanctioned rampart', which reflects the dynamics course of players' decision analysis based on decision goal. At the end.the extended hypergame is used to analyse the whole course of 'Gulf Crisis'.

Protection of Environment in Serbia:Responsibility for Ecological Economy Offences

A new system of protection,regulation,and improvement of environment has been introduced in Serbia since 2004,on the basis of numerous fatified universal and regional international documents.Preventive measures having the aim to prevent the possibility of jeopardizing,endangering,or pollution of the environment as a whole or some of its segments like air,water,soil,flora,and fauna have a special importance in the system of ecological protection of biodiversity.However,in case when such preventive measures are not sufficient or efficient,ecological values are protected from different forms of violation and jeopardizing by prescribing ecological delicts like:criminal offences,economic felonies and offences.These delicts having wide range of measures,sanctions,and actions lead by competent courts(general,economic,or misdemeanor)for natural and legal persons,i.e.enterpreneurs,should provide efficient,quality,and legal ecological security,that is its protection from economic offences and that is what this paper is about.