Business Diplomacy Today Podcast
Business Diplomacy Today addresses contemporary international relations and geopolitics, looking at the issues from a business perspective. It helps business leaders anticipate changing political and societal trends, build and leverage political networks and take a proactive stake in societal and political matters that influence their business environment.
Episode #006: International sanctions
In this episode, Matthias Catón speaks with Julia Grauvogel, Senior Research Fellow at the German Institute for Global and Area Studies (GIGA). They discuss the implications of economic sanctions and talk about different types of sanctions and the ways to measure their effects on the “target” (the country receiving the sanctions) and the “sender” (the country imposing the sanctions).
Matthias and Julia discuss why countries apply sanctions frequently and how effective they are, depending on the type and context of the application. Julia describes different concrete sanction regimes, such as during Apartheid in South Africa and the ongoing Russian invasion of Ukraine. She also talks about the economic clout that the United States and other Western countries have and how a continued de-dollarisation of the world economy might affect it. Julia provides her prediction on the future of sanctions as a foreign policy tool.