Do Sanctions Still Work?
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Hey everyone, it's Jess.
And Ryan.
Before we get to today's episode, we're here to announce that we're planning our third live show.
This time we'll be back in New York City. We'll be at the City Winery on Wednesday, September 9th.
We've got special guests lined up, sharp reporting, insider conversations, all the kind of stuff that hits different when you're in the room for it. Also, Ryan and I are going to stick around after the show to hang out and meet you all, which really is our favorite part.
Tickets go on sale this Friday, July 24th at 10 a.m. Eastern. Head to bit.ly slash journalnyc. That's bit.ly slash journalnyc. And we'll drop a link in the show notes too.
So get a ticket or two or three or five. Or ten. Or ten. Bring your mom. And come hang out on Wednesday, September 9th in New York City.
Hope to see you there.
A day before Senator Lindsey Graham died, he was in Kyiv, the capital of Ukraine.
I'm pleased to announce, as of about 30 minutes ago, we've reached agreement with the White House on a version of the Russian sanctions bill.
It was Graham's last public appearance and his last push on a sanctions bill that he had led negotiations on for over a year.
So when I get back to Washington, I'm going to go with Senator Blumenthal to the Republican and Democratic leader to see if we can find time to move this Russian sanctions package that would give tools to President Trump to help end this war.
If it passes, the bill would be the U.S. 's latest attempt to use sanctions against its enemies, a tactic the U.S. and its allies have leaned on a lot in recent years.
The toughest and most comprehensive multilateral sanctions that the Iranian government has ever faced. Our new executive order will cut off sources of revenue that fund North Korea's efforts to develop the deadliest weapons known. We're implementing full blocking sanctions. on two large Russian financial institutions.
I'll be signing an executive order imposing hard-hitting sanctions on the supreme leader of Iran and the... I mean, very simply, sanctions are about economic warfare, it's economic statecraft, it's about using your economy and your weight financially to force someone else to do something.
Our colleague Rory Jones has been covering sanctions.
Over the last 10 years, you've seen annual sanctions by the US increase from about 800 roughly in 2017 to like 3,000 in 2024. But whether they're effective or not is very much still up for debate. At the moment, what you aren't seeing is you aren't seeing a lot of the U.S. enemies change their behavior. The Iranian regime is still in place. The North Korean regime is still in place. Russia is still fighting a war against Ukraine. If you talk to sanctions experts, what they're saying is that the way in which sanctions are imposed and the way in which sanctions are enforced just doesn't add up at the moment and isn't producing the results that Washington wants to see.
Welcome to The Journal, our show about money, business, and power. I'm Jessica Mendoza. It's Wednesday, July 22nd. Coming up on the show, Washington continues to ratchet up sanctions, but do they still work?
On a sunny day in June 1990, Nelson Mandela joined President H.W. Bush at the White House.
It is a great pleasure, a sincere pleasure, for Barbara and me to welcome to the White House Mr. and Mrs. Mandela.
Mandela had just been released from prison by the apartheid regime in South Africa.
In our meetings this morning, he and I will talk about the future of South Africa. And it is my sincere hope that these talks will be productive, discussions that will contribute to positive change toward true democracy and the dismantling once and for all of apartheid.
A few years later, apartheid fell.
The apartheid regime in South Africa was under cultural sanctions. It was under a boycott globally. And the U.S. also imposed sanctions in the 80s. Everyone agrees that the economic sanctions, along with cultural boycotts and arms embargoes, all of that contributed to a change in government in South Africa and a change of behavior.
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