U.S. tech sanctions more risky than bank crackdown

March 9, 2016

America has used its dominance of international finance to force foreign lenders to cut ties with enemy states. New restrictions on Chinese telecom firm ZTE extend the principle to technology. But that could have much bigger ramifications for U.S. firms.

Rob Cox: Russia sanctions’ unintended consequences

By Rob Cox
June 9, 2015

Russian cheese production is booming. So are Putin’s approval ratings. Relations with China have never been better. Free-market entrepreneurs are being financially squeezed while the Kremlin and its banks coddle state-owned enterprises. This can’t be what the West hoped for.

Ukraine crisis forced into suspended animation for 2015

December 29, 2014

Markets worried about Europe’s economy in 2014. They will worry about Europe’s security in 2015. EU sanctions over Ukraine will weigh heavily on Russia’s economy. A lot depends on Vladimir Putin, but Europeans need to define what they want sanctions to achieve.

BNP’s Prot should go

July 1, 2014

The French bank has pleaded guilty to criminal wrongdoing and will pay a near-$9 bln fine to U.S. authorities. Chairman Baudouin Prot was CEO when BNP Paribas was helping clients evade U.S. sanctions. His position is untenable. In the name of accountability, he should resign.

Sanctions could cost Iran $50 bln

March 30, 2012

Top buyers of Iranian crude are cutting back and the government may soon have to offer discounts to shift supplies. The higher crude price would only partly counter these factors. Tehran could lose half its oil revenue and soon face the pinch.

Iran, the day-after problem

September 30, 2009

The drums of war are beating in the Middle East. Proponents of a military strike against Iran’s nuclear facilities have intensified their campaign in recent weeks, arguing the military option is the only way to ensure the country does not build a nuclear weapon.