WASHINGTON D.C. – The National Foreign Trade Council (NFTC) and USA*Engage today released the following statement in response to the Department of the Treasury review of U.S. sanctions and recommendations to maximize their effectiveness and minimize unintended consequences:
“Too often, the United States has used sanctions as a blunt instrument,” said Jake Colvin, President of the NFTC. “NFTC commends the Treasury Department for a thoughtful analysis of the benefits, limits and best practices that ought to govern U.S. sanctions.”
“Sanctions ought to be multilateral when possible, targeted towards a specific and achievable goal and reversible,” added Richard Sawaya, Vice President for USA*Engage, a longstanding coalition founded under NFTC to seek alternatives to the proliferation of unilateral U.S. foreign policy sanctions and to promote the benefits of U.S. engagement abroad. “If implemented, Treasury’s recommendations would substantially de-politicize sanctions and clarify their place in the conduct of U.S. foreign policy,” Sawaya added.
About the NFTC
Serving America’s Global Businesses Since 1914– The National Foreign Trade Council (www.nftc.org) is a leading business organization advocating an open, rules- based global trading system. Founded in 1914 by a broad-based group of American companies, the NFTC now serves its member companies through its office in Washington D.C.