Deconstructing The Russia Sanctions And Its Impact On India

Introduction

The continued imposition of economic sanctions against Russia by the United States and its close allies has added an additional layer of complexity to the Ukrainian military conflict. In a globally inter-connected economy, any disruptive change to its underlying legal and financial architecture has the potential to result in spillover economic shocks for all market participants. This article presents a snapshot of the legal basis for the sanctions; the mechanism of its working; and its potential impact on global and Indian affairs.

Law-fare in Response to Warfare?

Weaponization of legal measures to achieve foreign policy objectives has been described as a form of "law-fare" by legal scholars.¹ While the prohibition on use of force against the territorial integrity of any State is clear under international law, lawfulness of economic sanctions that have extra-territorial implications, remains a subject of academic debate.² This is because in