Editorial

As we publish this issue of the Swiss Review of Business and Financial Markets Law, war is raging in Europe. On February 24, 2022, Russia invaded Ukraine. There are no words that do justice to this tragedy and to the immense toll inflicted on the Ukrainian people. Whether the actions of many of the world’s democracies constitute an adequate reaction is a question that holds no certain answer. What is certain is that these countries are employing an unprecedented range of economic sanctions in response to the invasion, aiming to weaken Russia’s economic base and thereby curtailing its ability to continue its aggression.

At the time we prepared the current issue of this journal, legal writings on economic sanctions had a very different focus. The predominant themes revolved around the unilateral U.S. sanctions regime and its seemingly infinite extraterritorial reach. Non-U.S. corporations, especially banks, have long experienced the expansive reach of U.S. sanctions regulations. Thier…