The “maximum pressure policy” that US President Donald Trump intends to reactivate against China, Iran, and Russia could lead to fully severed economic ties if so-called “100% sanctions” are imposed. These would include a ban on all transactions with key industries, asset freezes, blocked dollar transactions, and extraterritorial restrictions.
Sanctions against Russia continue to tighten, though their sheer number has long made them difficult to track. What stands out now, however, are secondary sanctions – measures targeting foreign entities and banks that continue doing business with Russia in circumvention of restrictions. According to Igor Rastorguyev, a leading analyst at AMarkets, these tightening secondary sanctions are particularly dangerous because they can exert real pressure on financial and commodity channels, even without formal consensus within the European Union.
Despite Washington’s strong rhetoric, the global impact of stricter sanctions may still be limited, Rastorguyev notes. Europe, as seen in the prolonged negotiations over the 18th sanctions package, remains divided. Malta, Slovakia, and Hungary have refused to support new energy sector restrictions, citing concerns over their national interests. Even symbolic measures, like lowering the oil price cap for Russian crude, have faced criticism – experts argue the policy has been largely ineffective, as Urals oil prices remain market-driven rather than dictated by administrative decisions.
“The adoption of new sanction packages often serves as political pressure meant to create the appearance of action rather than deliver real economic impact,” Rastorguyev concludes.