Economic sanctions as a tool to eradicate global corruption

04/10/2022

Economic sanctions as a tool to eradicate global corruption

Among the various sanctions-related announcements the European Commission President Ursula von der Leyen made during her 2022 State of the Union Address, she indicated that the EU would add crimes of corruption in its Global Human Rights Sanctions Regime.

 

In that respect, EU ought to revise the latter to include corruption as a basis for imposing sanctions, aligning its regime with US, UK and Canada Magnitsky-type laws.

 

However, using sanctions as a tool to fight corruption raises numerous questions, most notably the definition of the improper conducts that will be covered by the Global Human Rights Sanctions Regime. In a global perspective, it is possible that the United Nations Convention Against Corruption be used as a reference.

 

#economicsanctions #corruption #compliance #StateoftheUnion #Magnitsky