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‘Asia Under Fire of US Sanctions.’ Presentation of a Valdai Club Report

On November 18, the Valdai Club hosted  the presentation of its new report, titled “Asia Under Fire of US Sanctions.”

For years, Asia has played a special role in the international policy of sanctions with the bulk of restrictive measures directed at North Korea, but the situation began to change recently, when the United States began to introduce secondary sanctions against third states for cooperation with that country.

Recently, the United States has ramped up its confrontation with China, which has become a potential target for new US sanctions. It can be said that this process was launched by the high-profile cases involving fines for such Chinese companies as ZTE and Huawei. In the new conditions, sanctions can be used as an instrument of technological containment.

In addition, other Asian states are getting involved in the policy of unilateral sanctions. Washington’s resumption of unilateral restrictions towards Tehran and the cancellation of exemptions for American partners have limited Japan’s freedom to act. The same could happen to India due to its defence cooperation with Russia.

Are these changes a sign of fundamental shifts in the regional affairs or are they strategically insignificant? Will the United States’ sanctions policy lead to irreversible political consequences or will the national governments and companies remain loyal to the American demands? Will sanctions promote systemic measures to defend financial sovereignty or will Asian governments and businesses prefer to work in an environment they are more used to? These and other issues will be addressed by the discussion participants.

Speakers:

  • Dmitry Kiku, Deputy Director of External Restrictions Department, Ministry of Finance of the Russian Federation

  • Eldar Murtazin, Leading Analyst of Mobile Research Group, Editor-in-Chief, Mobile-Review.com;

  • Alexey Maslov, Professor at the Faculty of World Economy and International Affairs, National Research University Higher School of Economics

  • Wang Yiwei, Director, Institute of International Affairs and Centre for European Union Studies, Renmin University of China (via videolink)

Moderator:

Working languages: Russian, English.