Fines and damages are the principal sanctions of criminal, civil and regulatory law. Yet in law it does not matter who pays money sanctions. Damages overwhelmingly are paid by insurers and the cost of insurance premiums loaded into commodity prices and thus dispersed among consumers. Fines are...

economic sanctions, trade policy, politics and economics of EU-27, multinational company (MNC), foreign subsidiary, political risk, exit, Russia, transition economy, innovation, productivity, growth, survival.

This paper is an analysis of how significant sanctions related risks emanate from conduit countries. We define conduits as jurisdictions with close geographic, trade or political links to a sanctioned country such as Iran, or sanctioned entities and activities, such as the transnational...