Restrictive measures: a question of adequacy or a failure of targeted measures?
| Date | 06 February 2024 |
| Pages | 13-25 |
| DOI | https://doi.org/10.1108/JMLC-12-2023-0195 |
| Published date | 06 February 2024 |
| Subject Matter | Accounting & finance,Financial risk/company failure,Financial compliance/regulation,Financial crime |
| Author | Daniel Cookman |
Restrictive measures: a question
of adequacy or a failure of
targeted measures?
Daniel Cookman
University College Dublin, Dublin, Ireland
Abstract
Purpose –This paper aims to discuss the adequacy of restrictive measures. Providing a synopsis of a
global movement toward the imposition of target restrictive measures. Questioning the success of targeted
restrictive measures in obtainingbehavioural change. Identifying a reversion to the implementation of wide
ranging sectoral restrictive measures in an attempt to encourage immediate behavioural change. Accessing
the successof using restrictive measures to encouragedemocratic regimes in Africa.
Design/methodology/approach –This study is a desktopresearch that examines European Parliament
and Council issued Regulations for the jurisdictions of Iran, Russia and Belarus. Academic researchis also
used in identifying a pendulum swing by global legislatures with respect to the imposition of targeted
measuresto requiring the imposition of additionalwide ranging sectoral measures.
Findings –Targeted measures can be circumventedusing non-hostile third countries. Academic research
identifies that wide reaching sectoral sanctions encourage regime change. Therefore, where targeted
measures fail to give rise to their desiredpersuasive objectives. The legislator moves to introduce additional
measures, also comprisingof sectoral sanctions. Sectoral sanctionshave been applied by the European Union
in Iran, Russia and Belarus. The USA has taken measures to limit Russia ability to use Turkey as a
transshipment hub. The African continent case study identifies the importance of creating an architecture
founded on upholdingpositive governance and human rights standards. Failureto do so leadsto a revolving
system of authoritarianregimes, sanctioned by restrictivemeasures.
Originality/value –This paper is a desktop reviewcomposed by the author.
Keywords Restrictive measures , Financial sanctions, Targeted measures, Sectoral measures
Paper type General review
Introduction
Targeted measures can be impactful. US Department of State reported in 2017 that the
“average sanctioned company or associated company loses about one-third of its operating
revenue, over one-half of its asset value, and about one-third of its employees relative to their
non-sanctioned peers.”(Ahnand Ludema, 2017, p. 3). Questions remain on the effectiveness
of imposing any type of measuresto encouraging regime change:
© Daniel Cookman. Published by Emerald Publishing Limited. This article is published under the
Creative Commons Attribution (CC BY 4.0) licence. Anyone may reproduce, distribute, translate and
create derivative works of this article (for both commercial and non-commercial purposes), subject to
full attribution to the original publication and authors. The full terms of this licence may be seen at
http://creativecommons.org/licences/by/4.0/legalcode
Conflict of interest and data availability statement agreement: The author agrees to abide by and
conform with the terms and conditions of the Journal of Money Laundering Control’s conflict of
interest and data availability policies and statements and to policies relating as they pertain to the
submission of this journal article.
Failure of
targeted
measures
13
Journalof Money Laundering
Control
Vol.27 No. 7, 2024
pp. 13-25
EmeraldPublishing Limited
1368-5201
DOI 10.1108/JMLC-12-2023-0195
The current issue and full text archive of this journal is available on Emerald Insight at:
https://www.emerald.com/insight/1368-5201.htm
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