THE NEW COLD WAR: A NOVEL REGULATORY TAKINGS THEORY ON ECONOMIC SANCTIONS AGAINST EXPLORATION AND PRODUCTION IN RUSSIA
In: Houston Journal of International Law, Jg. 39 (2017-04-01), S. 461
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$=P461 I. Introduction "Western sanctions against Russia are costing America's most powerful company a few hundred million bucks. A billion to be $=P462 exact." 1 Historically, sanctions have been considered one of the least effective methods for inciting change. 2 Why, then, have sanctions increasingly been an foreign policy tool of choice in the face of a slow American economy and an ever-competitive oil and gas market? This Comment will focus on the primary issues arising out of the use of targeted economic sanctions and how a novel regulatory takings claim would work to counteract the negative effects of sanctioning regimes. The first section provides background information on the purpose and process of economic sanctions. The second section discusses the most recent economic sanctions imposed against Russia in response to its illegal annexation of Crimea in 2014. The third section explains foundational regulatory takings jurisprudence and applies it to a novel regulatory takings claim. A case study on ExxonMobil is used to illustrate how national corporations with business in Russia could be justly compensated for regulatory takings as a result of economic sanctions. II. Economic Sanctions Economic sanctions are "deliberate government-inspired withdrawal, or threat of withdrawal, of customary trade or financial relations." 3 They are imposed for reasons ranging from stopping nuclear proliferations to promoting peaceful and democratic change. 4 Currently, Western sanctions against Russia aim to punish the participants of a militarized dispute - that is, $=P463 the hostile takeover of Crimea from the sovereign Ukraine. ...
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THE NEW COLD WAR: A NOVEL REGULATORY TAKINGS THEORY ON ECONOMIC SANCTIONS AGAINST EXPLORATION AND PRODUCTION IN RUSSIA
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Autor/in / Beteiligte Person: | Warren, Hannah Tucker |
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Zeitschrift: | Houston Journal of International Law, Jg. 39 (2017-04-01), S. 461 |
Veröffentlichung: | 2017 |
Medientyp: | academicJournal |
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