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| Srl | Item |
| 1 |
ID:
192535
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| Summary/Abstract |
The idea of weaponised interdependence has led many to believe that Russia would not invade Ukraine due to the high costs of sanctions, including through the Western-backed SWIFT system of financial payments. Although Russia’s economy has been facing shortcomings, the Russian leadership thrived in part due to connections beyond the West. This article argues that scholars have missed the fact that, more than being interdependent with the West, rising states have been decoupling from the United States and the European Union. Emerging powers, particularly China and Russia, have expanded their trade network and built their own financial infrastructure. Those transformations call for a less Western-centric International Relations (IR) scholarship. Scholars should furthermore not only focus on theories of Neoliberal Institutionalism, but also consider contributions from Realism and Marxism to International Political Economy (IPE).
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| 2 |
ID:
116194
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| Publication |
2012.
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| Summary/Abstract |
The construction of the Area of Freedom, Security and Justice has seen the pooling of a significant amount of national sovereignty at the European Union (EU) level through the establishment of internal EU competences. This process has also had the important side-effect of an increasing development of an EU interest in various areas of security, including in counter-terrorism. This article examines the processes through which the EU interest in counter-terrorism is constructed. It argues that, in line with social constructivist literature, it is important to conceptualise interests as being mutually constituted through interactions amongst political actors. It further develops two arguments in this respect. First, the United States (US) has exercised significant influence on the shaping of the EU interest in counter-terrorism. This point is particularly well-illustrated by the Passenger Name Record case. The second argument put forward by this article is that the process through which the EU interest is shaped has become increasingly complex, in particular following the entry into force of the Lisbon Treaty, which reinforced the powers of the European Parliament. A particularly apt illustration of this argument is the case of the SWIFT (Society for Worldwide Interbank Financial Telecommunication) Agreement.
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| 3 |
ID:
186219
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| Summary/Abstract |
The sanctions imposed by the G10 countries on financial institutions in Russia, including on its central bank, will come under scrutiny by emerging market central banks. This will help them build appropriate safeguards against disruptions to cross-border transactions and revise their investment mandates to reduce the risk of reserve asset freezes. Building new financial market infrastructure and cross-border payment systems, or strengthening existing ones, will become the priority of emerging global powers. The goal will be to build systems that support democratic governance mechanisms, have oversight arrangements involving the central banks of trusted countries, and promote fair and safe access to clearing and settlement under well-defined policy guidelines. The use of alternatives to the US dollar as the invoicing currency in international trade will gather momentum. Markets for energy and other commodities will be the change drivers. China has an important role to play.
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| 4 |
ID:
138596
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| Summary/Abstract |
On 30 July 2014, the European Union published its ‘third-stage’ sanctions on Russia in response to Russian policy towards Ukraine.1 These measures, which came into effect the following day, target whole sectors of the economy rather than individuals and companies, as in the previous two stages. Specifically, they take aim at oil exploration, military assistance, sensitive advanced technology and state-owned banks.
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