Showing 7 results for Economic Sanctions
Volume 1, Issue 4 (12-2012)
Abstract
Rotation of trading partners by Iran, considering the trading background of each partner and its different attitudes towards economic sanctions is an effective initiation for decreasing the negative effects of the sanctions and persuading other countries to ignore them. This initiative will create a positive and sustainable balance for the trading condition of Iran. To further this effort, a more proactive trading approach is regionalism and consequently selection of the right trading partners can be a useful solution. On the other hand, in cross-regional dimension, with regards to the current economical crisis, specifically in Europe, Iran is able to find suitable trading partners. Additionally, Iran can promote the idea that the global economic super powers are losing numerous lucrative opportunities in the attractive market of Iran. This approach can increase the bargaining power of Iran in economical negotiations and persuade other countries to overlook the current sanctions. In this atmosphere, studying the actors of the sanction games and their capacities, the amount of value-creation and interaction and the mechanism of their motivational leadership are important issues in the process of minimization of the negative impacts of the sanctions and the selection of trade partners must be based on the mentioned criteria.
Volume 1, Issue 4 (12-2012)
Abstract
Rotation of trading partners by Iran, considering the trading background of each partner and its different attitudes towards economic sanctions is an effective initiation for decreasing the negative effects of the sanctions and persuading other countries to ignore them. This initiative will create a positive and sustainable balance for the trading condition of Iran. To further this effort, a more proactive trading approach is regionalism and consequently selection of the right trading partners can be a useful solution. On the other hand, in cross-regional dimension, with regards to the current economical crisis, specifically in Europe, Iran is able to find suitable trading partners. Additionally, Iran can promote the idea that the global economic super powers are losing numerous lucrative opportunities in the attractive market of Iran. This approach can increase the bargaining power of Iran in economical negotiations and persuade other countries to overlook the current sanctions. In this atmosphere, studying the actors of the sanction games and their capacities, the amount of value-creation and interaction and the mechanism of their motivational leadership are important issues in the process of minimization of the negative impacts of the sanctions and the selection of trade partners must be based on the mentioned criteria.
Volume 15, Issue 2 (5-2008)
Abstract
The protection of fundamental human rights at the time of war or peace is an obligation that should be observed at anytime by the states and international organizations. After the Second World War, the non-peaceful situations such as occupation and economic sanctions have occurred numerously, which in some cases lasted for more than a decade. Unfortunately, the laws governing these situations are not implemented properly, and therefore fundamental human rights of people, especially their life, integrity and security, have been violated. This article aims at considering legal rules and their effectiveness in protecting fundamental human rights at the times of occupation and economic sanctions. This study is based primarily on the conventional and customary international legal rules.
Mr. Edris Karimi, Dr Zahra Fotourehchi, Dr Mohammad Hassanzadeh Mahmoudabad,
Volume 21, Issue 2 (6-2021)
Abstract
This paper examines the time effect and severity of UN and US sanctions on the misery index in 41 countries under sanctions during 1991-2018 using new unbalanced composite data and the Generalized Least Squares (GLS) method. The estimation results of time effects of UN and US sanctions show that there is no time effect in relation to the effect of sanctions on the misery index, so that the passage of time has no increasing or decreasing effect of sanctions on the misery index. Moreover, the estimation results of the severity effects of UN and US sanctions on the misery index indicate that the imposition of the mild and moderate UN sanctions, while influencing positively the misery index, has no significant effect on the misery index; however, severe UN sanctions has significant positive effect on the misery index. In addition, the imposition of moderate sanctions by the United States has no significant effect on the misery index, but mild and severe US sanctions, have positive and significant effects on increasing the misery index by average coefficients of 3.20 and 12.14, respectively. Generally, the impact of UN multilateral sanctions on the misery index has been greater than of US unilateral sanctions.
Mr Mahrdad Mahmoudian Zamaneh, Dr Morteza Ezzati, Dr Mohammad Jafari,
Volume 24, Issue 2 (5-2024)
Abstract
Introduction
The occurrence of various shocks affects economic variables and change their course over time. Knowing the effecst of such shocks on economic variables is necessary for proper policy making in the economy. Therefore, many researches are conducted in this field in the world. Policy-making without recognizing these effects can result into tremendous challenges. One of the most effective shocks in the Iranian economy is the sanctions, especially the nuclear ones, which have had extensive effects on the behavior of brokers and consequently on the country's economic variables.
Economic sanctions cause a change in the exchange rate by creating a chaotic atmosphere and confusion in the economy, followed by a change in the supply and demand of housing. Therefore, the purpose of this research is to investigate the effect of economic sanctions on the supply and demand of housing through the exchange rate channel. For this purpose, provincial seasonal data for the period of 2011-2021 have been used and Seemingly Unrelated Regression (SUR) model has been used to analyze the data.
Methodology
Different methods can be used to estimate the model of the equations of this study, such as single equation methods or methods of solving simultaneous equations, whose estimates are different. The most common methods of solving simultaneous equations are the two-stage and three-stage least squares regression methods, as well as Seemingly Unrelated Regression, which is used when there is a relationship between the error part of the equations or there is a simultaneous correlation. The method discussed in this research is Seemingly Unrelated Regression (SUR) model or Seemingly Unrelated Regression Equations (SURE), which was proposed in 1962 in econometrics.
Findings
The findings show that provincial gross domestic product, housing prices, and inflation have a positive effect on demand. The variables of stock market index, exchange rate and sanctions have had a negative effect on housing demand. On the supply side, housing price variables, the number of building permits issued, and inflation have a positive effect on the housing supply, while the exchange rate, sanctions, and the price of construction materials have a negative effect on the housing supply. Imports and embargoes have increased the exchange rate and exports have decreased the exchange rate. On this basis, the embargo has both a direct effect and an indirect effect through the exchange rate on the reduction of housing supply and demand.
Discussion and Conclusion
The estimation results for the first equation show that the variables are significant. It can also be said that provincial GDP, housing prices and general price level index have a positive effect on housing demand and with the increase of these variables, housing demand increases. According to the findings of the research and the analysis of the available data, the inverse relationship between the stock market index, the sanctions index and the exchange rate with housing demand is confirmed. So, with the growth of the stock market index, sanctions index and exchange rate, the demand for housing decreases.
In the preliminary results, the estimate for the second equation of the average effect of labor wages as a part of the production cost was not significant. But in estimates, the effect of the price of construction materials is significant. This variable was removed from the model. It can be said that one of the reasons for the non-significance of the wage variable is its low relative growth compared to the growth of housing prices and the growth of construction materials. On the other hand, the share of wages in housing construction costs is much lower than the costs of materials and other costs. This causes the wage rate in Iran to be less effective in housing supply. It can also be said that an increase in the provincial GDP, housing prices and the number of building permits issued increases housing supply.
The results of the third equation show that exports, imports, sanctions index, liquidity volume and provincial GDP explain 99% of exchange rate changes. It is worth mentioning that any increase in exports and sanctions index increases the exchange rate, but with the increase in imports, the exchange rate decreases, which shows the negative relationship between the exchange rate and imports. Since the exchange rate increases under the influence of the sanctions and the exchange rate has a negative effect on the housing demand, it can be said that sanctions have a direct effect on the economic activities of supply and demand due to the disruption of security, certainty and economic stability. Housing has an effect on the supply and demand of housing due to the change in the exchange rate
Volume 25, Issue 4 (12-2021)
Abstract
As a confrontation tool, economic sanctions are applied by the developed states against the developing states in order to make the state under sanctions adjust to demands imposed by the states sponsoring sanctions. The sanctions produce a variety of economic, social, legal and other effects, including an effect on contractual commitments. Whereas no specific law has been devised with regard to the effect of international sanctions on contractual commitments in Iran’s legal system, the issue has been addressed in international arbitration and judicial procedures of other countries. The main question addressed in this study, is that what approach Iran’s legal system and international trade law adopt towards the effect of economic sanctions on commitments. The findings of the present study note considerable differences. To begin with, in international trade law system, the effects are examined, using three doctrines of hardship, frustration and force majeure, while no particular approach is observed in Iran’s legal system in this regard. Secondly, in international trade law system, a single approach, considering economic sanctions as a force majeure, hardship or frustrating event, is not observed. However, most procedures tend toward the frustration doctrine. In the meantime, Iran’s judicial systems for the most part seems to gravitate towards considering international sanctions as force majeure.
Volume 26, Issue 4 (12-2022)
Abstract
Consent and party autonomy, along with the neutrality of arbitral tribunal, are the most featured distinction of arbitration vis a vis other dispute resolution methods. These fundamental features, however, might be affected by the application of unilateral economic sanctions of regional organizations (i.e. European Union) which is indeed for protecting their foreign security policy frameworks and fundamental interests.
In one hand, the arbitral tribunals have to respect the parties’ choices, namely the applicable law (which might be against the sanctions), and in the other hand, the courts are obliged to recognized the European Union sanctions as public policy and overriding mandatory provisions and accordingly, set aside or annul the arbitral awards contrary to these provisions.
Therefore, the main aim of this research project is to study of the effect of European Union economic sanctions on commercial arbitration disputes, as well as the approach of pertinent courts. The key result is that arbitral tribunals in confrontation with such sanctions as jus cogens, rely on their authorities particularly in term of applicable law, recognition and enforcement of the arbitration award.
