The Russia-Ukraine war has caused rapid sanctions inflation since March in several autonomous sanctions programs, contributing to a sanctions inflation rate of 14.6% year on year, according to London Stock Exchange Group’s Refinitiv Global Sanctions Index (GSI).
Refinitiv’s annual GSI white paper, the second edition of which was released last week, measures and analyses rising hyperinflation of autonomously issued sanctions programmes. The rapid inflation since March marks what Refinitiv describes as a major shift in the volumes of sanctions autonomously issued by national governments or regional bodies. The once-prevalent consensus-based sanctions mechanisms created under the aegis of the UN are an increasingly minor component of the GSI, representing just 2% of overall sanctions.
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