
Sanctions, a geoeconomic weapon in the age of globalisation
In 1989, in a prophetic article, Edward Luttwak heralded the advent of geoeconomics. He believed that in the dual context of globalisation and the end of the Cold War, power relationships would be governed more by economics than by military might. The EU’s unprecedented sanctions against Moscow following the invasion of Ukraine have made this revolution in the expression of power strikingly relevant once again. But are sanctions truly effective?