https://thehill.com/opinion/international/577738-is-a-sanctions-rethink-in-the-works
The Biden administration’s announcement that it will limit economic sanctions as a tool of foreign policy could prove significant, since it follows two decades in which policymakers of both parties dramatically increased the use of sanctions against governments, individuals, and entities that they considered bad actors.
“After the Sept. 11, 2001 attacks,” the Treasury Department wrote in a new report after a nine-month review, “economic and financial sanctions (‘sanctions’) became a tool of first resort to address a range of threats to the national security, foreign policy, and economy of the United States. This tool rests on the formidable strength of, and trust in, the U.S. financial system and currency.”
Looking forward, the Treasury wrote, “Economic and financial sanctions should be tied to clear, discrete objectives that are consistent with relevant presidential guidance — such as countering forces that fuel regional conflict, ending support to a specific violent organization or other malign and/or illicit activities, stopping the persecution of a minority group, curtailing nuclear proliferation activities, enhancing multilateral pressure, or ceasing specific instances of atrocities.”
Fine. But the notion of limiting the use of sanctions — e.g., trade embargoes, investment restrictions, asset freezes on governments or individuals — could prove a sea change for U.S. policymakers who, in recent years, have viewed sanctions as the go-to response to global bad behavior.