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1. Full Issue: Money & War

Author:
Sarah Detzner, James Copnall, Alex de Waal, Ian M. Ralby, Joshua Stanton, Ibrahim Warde, Leon Whyte, Richard Weitz, Jessica Knight, John H. Maurer, Alexander Tabarrok, Alex Nowrasteh, Tom Keatinge, Emily Knowles, Karolina MacLachlan, Andrew Lebovich, Caroline Troein, and Anne Moulakis
Publication Date:
01-2015
Content Type:
Journal Article
Journal:
Fletcher Security Review
Institution:
The Fletcher School, Tufts University
Abstract:
The Fletcher Security Review: Managed and edited by students at the Fletcher School of Law and Diplomacy, we build on the Fletcher School’s strong traditions of combining scholarship with practice, fostering close interdisciplinary collaboration, and acting as a vehicle for groundbreaking discussion of international security. We believe that by leveraging these strengths – seeking input from established and up-and-coming scholars, practitioners, and analysts from around the world on topics deserving of greater attention – we can promote genuinely unique ways of looking at the future of security. Each issue of the Review is centered around a broad theme – in this issue, we tackle “Money & War.” Money influences every aspect of warfare, conventional or unconventional. No nationstate military, insurgent group, terrorist network, trans-national criminal organization, or hybrid actor can be understood, or countered, without knowing where the money is coming from – as well as where, and how, it gets spent. Evolutions and revolutions in financial tools and practices quickly translate to transformations in military affairs, and some cases, vice versa.
Topic:
Security, Foreign Policy, Economics, Human Rights, Governance, Sanctions, Military Affairs, Finance, Islamic State, Navy, Arab Spring, Maritime, Conflict, Multilateralism, Islamism, Drugs, and Currency
Political Geography:
Afghanistan, Africa, China, Iran, Sudan, Darfur, Middle East, Asia, North Korea, Mali, Asia-Pacific, Sahel, United States of America, and North America

2. Weak Sanctions Breathe Life Into North Korean Defiance of International Community: FSR Interviews Joshua Stanton

Author:
Joshua Stanton
Publication Date:
07-2015
Content Type:
Journal Article
Journal:
Fletcher Security Review
Institution:
The Fletcher School, Tufts University
Abstract:
Joshua Stanton, an attorney in Washington, D.C., has advised the House Foreign Affairs Committee on North Korea-related legislation, including the North Korea Sanctions Enforcement Act, and blogs at OneFreeKorea. His article, "North Korea: The Myth of Maxed-Out Sanctions", a legal analysis of North Korean sanctions, refuted the idea that there is nothing left that the world community can do to bring them to the negotiating table. In this interview, he expands further on this idea addressing why people think that nothing more can be done and how the Iranian nuclear deal will affect relation with North Korea. The views expressed are solely his own.
Topic:
Security, Diplomacy, Sanctions, and Nuclear Power
Political Geography:
Iran, Asia, North Korea, North America, and United States of America

3. Sanctions, Economic Mismanagement, and the Iranian Currency Crisis, 2010 - 2012

Author:
Jessica Knight
Publication Date:
01-2015
Content Type:
Journal Article
Journal:
Fletcher Security Review
Institution:
The Fletcher School, Tufts University
Abstract:
In October 2012, the Iranian rial earned the unwelcome distinction of the world’s least valued currency. It had lost more than 80% of its open market value in the previous two years, crashing from 9,800 to 37,000 rials (IRR) per U.S. dollar (USD). As the rial lost value, demand for more reliable hard currencies surged until it far exceeded the Central Bank of Iran’s (CBI) official supply. Many western analysts, taking their cue from U.S. officials, claimed this devaluation proved the efficacy of international sanctions. Did it really?
Topic:
Financial Crisis, Sanctions, Economy, and Currency
Political Geography:
Iran, Middle East, and United States of America

4. North Korea: The Myth of Maxed-Out Sanctions

Author:
Joshua Stanton
Publication Date:
01-2015
Content Type:
Journal Article
Journal:
Fletcher Security Review
Institution:
The Fletcher School, Tufts University
Abstract:
On December 19, 2014, President Obama publicly blamed North Korea for the cyberattack against Sony Pictures and for the subsequent cyberterrorism against the American people, and promised to "respond proportionally." Almost immediately thereafter, one could hear a familiar narrative repeated, typified by New York Times correspondent David Sanger, who wrote that "North Korea is under so many sanctions already that adding more seems futile." One could have heard similar arguments in 2006, after North Korea's first nuclear test, and in 2013, after its third nuclear test. A variation of this argument is that “Washington … can do little ... without the cooperation of China.” ​ For years, journalists have quoted “experts” who insisted that U.S. sanctions options against North Korea were exhausted and had failed as an instrument of policy. As a matter of both fact and law, however, that is false; it even suggests that these experts have not read and understood the sanctions authorities. Why does this view persist, then? Some scholars may accept and propagate it because they oppose sanctions as a matter of policy. Others have simply ceased to question a myth that has entered the received wisdom. A true understanding of the potential effectiveness of sanctions first requires an understanding of what these sanctions are, what they are not, and how they work. This article will first summarize the sanctions authorities – U.N. Security Council resolutions, and the U.S. sanctions that should be an important part of the effective enforcement of the measures that the U.N. Security Council has adopted. It will also explain the role of the Treasury Department in regulating the international financial system, and the power this gives the United States to isolate the North Korean government from that system. It will explain which U.S. and U.N. sanctions against North Korea have succeeded and failed, and why. Finally, it will explain what current U.S. national sanctions do, and what they do not do. Only after one understands how little the current sanctions do – and how much they could do – can one begin to understand how to strengthen them into an effective part of a coherent foreign policy... ​
Topic:
Science and Technology, United Nations, Sanctions, Cybersecurity, and Economy
Political Geography:
Asia, North Korea, North America, and United States of America