U.S. Treasury’s review of sanctions

Recommendations to preserve and enhance effectiveness in supporting national security and U.S. interests

Recommendations to preserve and enhance effectiveness

The U.S. Treasury Department today released the results of a review of the economic and financial sanctions that Treasury administers and enforces, and issued recommendations to preserve and enhance effectiveness in supporting national security and U.S. interests.

Read the report, Treasury 2021 Sanctions Review [PDF 1 MB]

According to a related Treasury release, Treasury found that while sanctions remain an “essential and effective policy tool,” there are also new challenges—including rising risks from new payments systems, the growing use of digital assets, and cybercriminals.

Key recommendations include:

  • Adoption of a structured policy framework that links sanctions to a clear policy objective
  • Multilateral coordination whenever possible
  • Calibration of sanctions to mitigate unintended economic, political, and humanitarian effects
  • Confirmation that sanctions are easily understood, enforceable, and, when possible, reversible
  • Investment in modernizing Treasury’s sanctions technology, workforce, and infrastructure

For more information on this topic or to learn more about KPMG’s Trade & Customs Services, contact:

Doug Zuvich
Partner and Global Practice Leader
T: 312-665-1022
E: dzuvich@kpmg.com

John L. McLoughlin
Principal and East Coast Leader
T: 267-256-2614
E: jlmcloughlin@kpmg.com

Andy Siciliano
Partner and National Practice Leader
T: 631-425-6057
E: asiciliano@kpmg.com

Steve Brotherton
Principal and Global Export and Sanctions Leader
T: 415-963-7861
E: sbrotherton@kpmg.com

Luis (Lou) Abad
Principal, Washington National Tax
T: 212-954-3094
E: labad@kpmg.com

Irina Vaysfeld
Principal
T: 212-872-2973
E: ivaysfeld@kpmg.com

Amie Ahanchian
Principal
T: 202-533-3247
E: aahanchian@kpmg.com

Christopher Young
Principal
T: 312-665-3229
E: christopheryoung@kpmg.com

Gisele Belotto
Principal
T: 305-913-2779
E: gbelotto@kpmg.com

George Zaharatos
Principal
T: 404-222-3292
E: gzaharatos@kpmg.com

Andy Doornaert
Managing Director
T: 313-230-3080
E: adoornaert@kpmg.com

Jessica Libby
Principal
T: 612-305-5533
E: jlibby@kpmg.com

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