International Sanctions: Monetary and Financial Law Perspectives

Erscheinungsjahr 2024
ISBN: 978-90-04-70569-2
Verlag: Brill

Buch, Englisch, 434 Seiten, Format (B × H): 163 mm x 243 mm, Gewicht: 780 g

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.

Autoren/Hrsg.

Zilioli, Chiara

Bismuth, Régis

Thévenoz, Luc

Fachgebiete

• Rechtswissenschaften Internationales Recht und Europarecht Internationales Recht Internationales Handels-, Wirtschafts- und Gesellschaftsrecht
• Rechtswissenschaften Internationales Recht und Europarecht Internationales Recht Internationale Menschen- und Minderheitenrechte, Kinderrechte

Inhaltsverzeichnis

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

Über Autor(innen)

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.