This volume identifies and examines some of the legal issues that a special purpose vehicle generates. The collection brings together legal academics, sanctions practitioners and policy experts to provide an assessment of the special purpose vehicle in the context of secondary sanctions in international law.
The effects of US secondary sanctions are broad and are often designed to cripple the target country’s economy and currency. Some states have sought to circumvent these sanctions by setting up a special purpose vehicle to facilitate trade and financial transactions with the sanctioned country on humanitarian grounds. Although the nature of these special purpose vehicles is new and experimental, they are little understood, not least how they operate and function in international law. This volume addresses this gap by identifying and examining some of the legal issues that a special purpose vehicle such as the Instrument in Support of Trade Exchanges (INSTEX) generates. The collection brings together leading legal academics, sanctions practitioners and policy experts to provide an assessment of the special purpose vehicle in the context of secondary sanctions in international law. It will be of interest to researchers and academics in International law, Security law, Economic law and Comparative law.
Preface Part I: Iran and Economic Sanctions General Framework 1.The
(Il)legality of Coercive Secondary Sanctions: Non-compliance Mechanisms as
Legitimate Acts of Retorsion, Ben Murphy 2.Irans position in the world
economy in the era of sanctions, Andelika Kunar 3."The economic policeman
of the planet": Sanctions, US extraterritoriality and the case of Iran,
Flavia Canestrini 4.The True Colors of Economic Sanctions, Andrés
Téllez-Núñez Part II: The Special Purpose Vehicle Experiment in International
Law 5.Special Purpose Vehicles and International Trade Sanctions, Marcin
Menkes 6.Why INSTEX and not something else? Signaling the illegitimacy of US
foreign policy and US secondary sanctions, Keith Preble 7.Violation of Human
Rights: Failure to Revive the JCPOA through Special Purpose Vehicles, Zeynab
Malakouti Khah 8.The United States Secondary Sanctions, Public International
Law, and the European Union Defending European Foreign Policy with a Blunt
Sword, Patrick C. R. Terry 9.Certain Iranian Assets from a Sanctions
perspective, Ukri Soirila Part III: Taming Economic Sanctions: Responses and
Developments 10.Chinas Countering Foreign Sanctions Regime: An Initial
Assessment, Shen Wei and Zhang Beibei
11. Brief legal and doctrinal analysis
of the rulings of the arbitrazh courts of the Russian Federation related to
the consideration of disputes with sanctioned persons, Konstantin
Branovitskiy and Arina Sukhova
12. Financial (Secondary) Sanctions and the
Creation of a New International Payments System, Roberto Soprano
13.
Extraterritorial and Secondary Sanctions and the Problem of Overcompliance,
Joy Gordon
14. International trade sanctions and bilateral agreements: A
concluding question on secondary sanctions in light of Russian wartime
economic diplomacy, P. Sean Morris
P. Sean Morris is a Research Scholar in the Faculty of Law, University of Helsinki and an Affiliated Fellow at the Erik Castren Institute of International Law and Human Rights, University of Helsinki. Sean is a generalist international lawyer and has edited the following books: Intellectual Property and the Law of Nations, 18601920 (2022), The League of Nations and the Development of International Law: A New Intellectual History of the Advisory Committee of Jurists (2021) and Transforming the Politics of International Law: The Advisory Committee of Jurists and the Formation of the World Court in the League of Nations (2021).
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