The United States faces a changing world where financial innovation, shifts in global economic activity, and new geopolitical challenges are redefining how economic power can be used to support national security objectives. These shifts are accompanied by new and rising threats for which sanctions may be a critical tool of U.S. policy. To effectively confront these changes, Treasury must modernize and adapt its sanctions policy and operational framework. A refined policy rubric and options for modernizing Treasury’s sanctions infrastructure will provide Treasury with the right tools to stay ahead of these changes and the adversaries seeking to take advantage of them. Though it will require Treasury, and others in the U.S. government, to make difficult decisions about where and when to recommend the use of sanctions, doing so will ultimately strengthen Treasury’s use of sanctions in the long-term. These changes will lay the groundwork for future Treasury leadership to address tomorrow’s challenges.
I should note that I had to leave out some nice bar graphs from the source which shows how the mix of sanctions has evolved (or not) over time….