10min chapter

Macro Musings with David Beckworth cover image

Josh Lipsky on Financial Statecraft, Cross-border Payments, and the Global Status of the Dollar

Macro Musings with David Beckworth

CHAPTER

Geoeconomics, Financial Statecraft, and Sanctions

The chapter delves into geoeconomics, financial statecraft, and the impacts of sanctions on Russia in 2022, particularly focusing on the Ukraine war financing. It explores the freezing of Russian assets, cross-border payments, and the interplay between the US, Europe, and China in response to the sanctions. The chapter discusses the effectiveness of the sanctions, the role of China in the Russian economy, and the complexities of implementing innovative financial approaches amidst geopolitical tensions.

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