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Impact Of Eu And Us Sanctions Against Russia And Iran On Trade Finance

Author

Listed:
  • Eva Jancikova

    (Faculty of International Relations, University of Economics in Bratislava)

Abstract

Sanctions imposed by the European Union and USA against Russia and Iran have important impact on trade finance as well. Banks should not violate sanctions regimes when they are realising their trade finance transactions. In 2014, International Chamber of Commerce issued a Guidance Paper on the use of Sanctions Clauses in trade finance related instruments, including letters of credit, documentary collections, bank guarantees, and subject to ICC rules. The purpose of this paper is to highlight a certain issues arising from the use of sanction clauses and recommend the best practice for finance transactions and instruments.

Suggested Citation

  • Eva Jancikova, 2019. "Impact Of Eu And Us Sanctions Against Russia And Iran On Trade Finance," Medzinarodne vztahy (Journal of International Relations), Ekonomická univerzita, Fakulta medzinárodných vzťahov, vol. 17(3), pages 210-223.
    • Handle: RePEc:brv:journl:v:17:y:2019:i:3:p:210-223
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    More about this item

    Keywords

    sanctions; trade finance; letters of credit; documentary collections; bank guarantees;
    All these keywords.

    JEL classification:

    • F51 - International Economics - - International Relations, National Security, and International Political Economy - - - International Conflicts; Negotiations; Sanctions
    • F20 - International Economics - - International Factor Movements and International Business - - - General
    • P33 - Political Economy and Comparative Economic Systems - - Socialist Institutions and Their Transitions - - - International Trade, Finance, Investment, Relations, and Aid

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