The President’s Inbox The New Era of Economic Warfare, With Edward Fishman
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Mar 25, 2025 
Edward Fishman, a senior research scholar at the Center on Global Energy Policy and adjunct professor at Columbia University, dives into the evolving landscape of economic warfare. He discusses the U.S.'s expanded use of financial and trade sanctions and their effectiveness in achieving foreign policy goals. Fishman highlights the complexities of sanctions against nations like Iran and Russia, and the strategic use of export controls against China. He emphasizes the U.S. dollar's role in global trade and the impact of tariffs versus sanctions on international relations.
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Iraq Sanctions Example
- The UN imposed a 13-year embargo against Saddam Hussein's Iraq, impacting even the Gulf War.
- Despite multinational efforts, the sanctions were deemed a failure, influencing the 2003 Iraq invasion.
Shift to Financial Sanctions
- The Iraq War, ironically, stemmed from perceived sanctions failure, but inspections later revealed WMD limitations.
- The emergence of Iran's nuclear program under Ahmadinejad, coupled with existing wars, pushed the US towards financial sanctions.
Levy's Inspiration
- Stuart Levy, inspired by a Swiss bank's voluntary withdrawal from Iran, developed financial sanctions.
- Levy's idea involved persuading banks to cut ties with Iran by revealing their involvement in funding its nuclear program and terrorist groups.
