Overview

The monetary and financial dimensions of economic sanctions have become critical components of sanctions strategies. A wider range of monetary and financial assets, entities (including central banks), and services are now targeted. Financial institutions, infrastructures, regulators and central banks play an increasingly influential role in shaping sanctions channels. Furthermore, sanctions may have significant impacts on financial obligations. This book, prepared under the auspices of the International Monetary Law Committee of the International Law Association (Mocomila), is the first to focus on the unexplored financial and monetary law aspects of economic sanctions and examine their impact on central banks and payment systems.

Full Product Details

Author:   Chiara Zilioli ,  Régis Bismuth ,  Luc Thévenoz
Publisher:   Brill
Imprint:   Martinus Nijhoff
Weight:   0.861kg
ISBN:  

9789004705692

ISBN 10:   9004705694
Pages:   434
Publication Date:   01 August 2024
Audience:   Professional and scholarly ,  Professional & Vocational
Format:   Hardback
Publisher's Status:   Active
Availability:   In Print  
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Table of Contents

Notes on Contributors Introduction Part 1: Money and Finance: the New Frontiers of International Sanctions 1 Economic and Financial Sanctions in International Law: Nature, Sources and Reviewability  Christos Hadjiemmanuil 2 The United States-Led Development of Financial Sanctions Since 1945  James H. Freis, Jr. and Michael Waibel 3 Financial Sanctions: the Development of an EU Practice  René Smits 4 Weaponisation of Money and Payments  Rosa Lastra 5 Towards a New Extraterritoriality of EU Sanctions?  Régis Bismuth and Jan Dunin-Wasowicz 6 Evolution of the UK Financial Sanctions Framework Following the UK’s Withdrawal from the EU  Sonya Branch PART 2: Central Banks and Financial Sanctions 7 Economic Sanctions and Central Bank Immunity  Ingrid Brunk 8 The Use of Inmobilised Assets and Reserves of the Central Bank of Russia: a Perspective from EU Law  Alberto de Gregorio Merino 9 Beyond Immunities: Sanctions and the Fundamental Rights of Central Banks  Michael Ioannidis 10 Economic Sanctions and Central Banks: Applying the Principles Articulated in the Arbitral Decision between the Federal Reserve and Bank Markazi  Thomas Baxter 11 The Role of Central Banks in the Application of International Financial Sanctions: the Case of the ECB and the Sanctions against Russia  Chiara Zilioli 12 The EU’s Restrictive Measures on the Russian Central Bank: Some Financial Stability Perspectives in Light of the Sberbank Cases  Christos V. Gortsos Part 3: The Impact of Sanctions on Contractual Rights and Property 13 The Legal Effect of Sanctions against Russia on Financial and Commercial Transactions  Sir William Blair 14 Contractual Consequences of Sanctions before the English Courts  Charles Proctor 15 Third Country Economic Sanctions and the EU Blocking Regulation  Klaus Peter Follak 16 The Restriction on Trust Services: a New Sanction in Need of Improvement  Luc Thévenoz 17 The Key Role of Financial Institutions in Implementing Asset Freezing Measures  The Example of EU Freezing Measures against Russian Individuals and Entities  Caroline Kleiner 18 Targeted Financial Sanctions and Asset Confiscation: a Thorny Legal Path from Freeze to Confiscate  Iryna Bogdanova Index

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Author Information

Chiara Zilioli is the General Counsel of the European Central Bank and Professor of Law at J.W. Goethe University (Frankfurt am Main). Régis Bismuth is Professor at Sciences Po Law School (Paris). Luc Thévenoz is Professor at the University of Geneva and Director of the Centre for Banking and Financial Law.

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