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Sanctions

Why Russia’s War Effort Signals Strategic Decline

OPINION — “Despite claims of battlefield momentum in Ukraine, the data shows that Russia is paying an extraordinary price for minimal gains and is in [...] More

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Can Western Sanctions Stop Putin’s War?

Can Western Sanctions Stop Putin’s War?

DEEP DIVE – Looking at the recent headlines from Russia, this much seems clear: the West’s sanctions against the country are finally working.Oil [...] More

Iranian President Masoud Pezeshkian (R) speaks during a press conference after arriving at Mehrabad Airport in Tehran, Iran on September 27, 2025

Defiance Meets Desperation as Iran Faces Fresh UN Sanctions

EXPERT INTERVIEW – The United Nations has reimposed sweeping economic and military sanctions on Iran, ten years after lifting them under the 2015 [...] More

Russia’s Billion-Dollar ‘Shadow Fleet’

DEEP DIVE – On January 10, the oil tanker Eventin was steaming westward from Russia along Germany’s Baltic coast, bucking eight-foot waves and biting [...] More

Russia’s Economy in 2025: A War Machine Running Low on Fuel

DEEP DIVE — Nearly three years into its costly war against Ukraine, Russia’s economy is faltering under the strain of sanctions, inflation, and high [...] More

How Russia’s War Machine Keeps Raking In Money

DEEP DIVE — More than two and a half years after its full-scale invasion of Ukraine, Russia's economy shows surprising resilience. Despite an [...] More

Russia Sanctions 101 - Via a Top White House Advisor

OPINION — “Since the start of the [Ukraine] war, the liquid portion of the [Russian] national wealth fund has fallen by nearly half. Defense outlays [...] More

National Security Advisor Jake Sullivan on China: Don’t Call it ‘Decoupling’

CIPHER BRIEF REPORTING — Eight days after U.S. Treasury Secretary Janet Yellen told a Johns Hopkins crowd that America does “not seek to decouple our [...] More

Russia's Wounded Economy — How Bad is it?

Russia's Wounded Economy — How Bad is it?

EXPERT PERSPECTIVE — The European Union has made its long-awaited decision to cap Russian crude oil at $60 per barrel and to prevent European [...] More

Biden Holds the Cards on Iran, But Will He Play Them?

Gary Grappo is a former U.S. ambassador who held senior positions including Minister Counselor for Political Affairs at the U.S. Embassy in Baghdad; [...] More

What the OFAC Advisory Means for Companies that Pay Ransom

Earlier this month, the Department of the Treasury’s Office of Foreign Assets Control (OFAC) issued an advisory, reminding businesses that if they [...] More

United States and Iran Heading Slowly Toward the Brink Again

Bottom Line up FrontThe COVID-19 pandemic has devastated both Iran and the United States, but has not prevented tensions between them from escalating [...] More

<p>View of Northern Tehran, Iran</p>

The Politics at Play in Iran

Iranian President Hassan Rouhani says his country "will not wage war against any nation”, as tensions continue to escalate between the U.S. and [...] More