Research On The Legal Remedy Mechanism Of Unilateral Financial Sanctions

The international pattern has been profoundly adjusted,with the rise of unilateralism and hegemonism,and differences in national interests have not been shelved along with economic integration.In this process,unilateral financial sanctions have gradually replaced war as an important tool to pursue national interests.In recent years,the United States,relying on its dominant position in the US dollar,has frequently used financial sanctions to launch unilateral financial sanctions against Iran,Russia and other countries,attempting to block countries inconsistent with its strategic goals by freezing or confiscating financial assets,restricting the provision of financial services and restricting financing transactions.In this process,the sanctioned states and related entities have suffered a lot,seriously affecting the stability of their financial order and even national security.Exploring available legal remedies is important because it can help to reduce the adverse impact brought by financial sanctions,to safeguard the rights and interests of parties involved and to safeguard the harmonious international financial order.Therefore,it is necessary to explore the legal remedy path of unilateral financial sanctions.This paper is divided into four chapters.The first chapter gives a preliminary overview of unilateral financial sanctions.After reviewing the characteristics and legal attributes of unilateral financial sanctions,the author holds the view that the characteristics of unilateral financial sanctions,including asymmetrical financial strength,diverse means of sanctions,significant effects of sanctions and other aspects.At present,there are disputes over the legitimacy of unilateral financial sanctions,and some sanctioning states even try to justify sanctions by means of domestic legislation.In this context,providing relief for unilateral financial sanctions has the necessity of safeguarding the rights of the sanctioned parties and promoting the transparency of procedures.The second chapter mainly analyzes the legal remedy mechanism and dilemma of unilateral financial sanctions at the level of national subject.First of all,combining theory and practice,the feasible path is summarized preliminarily,including seeking relief from International Court of Justice,litigating to Dispute Settlement Body,and constructing anti-sanction legislative system.After further analyzing the feasibility of the above path,it is concluded that the International Court of Justice has limited jurisdiction over disputes caused by unilateral financial sanctions,the dispute settlement system of the WTO may be difficult to achieve the effect due to the abuse of rules such as "security exception",and the anti-sanctions legislative system has limitations in terms of the applicable objects and effectiveness.The third chapter takes the United States as an example to explain the legal remedy mechanism and dilemma of the unilateral financial sanctions at the level of private subject.The typical pattern of financial sanctions in the United States including restricting transactions of financial institutions with the use of dollar leverage and listing targets that are threatened to national security.The legal remedy contains administrative remedy and judicial remedy.However,combining with the practice of the United States,it is found that administrative remedy pattern is time-consuming,and judicial remedy pattern is difficult to provide good protection to foreign entities.The fourth chapter focuses on the solution of unilateral financial sanction legal relief.The state subject may consider adding the jurisdiction clause in the treaties to provide the basis for the jurisdiction of the International Court of Justice.As for the WTO dispute settlement mechanism,the members should standardize the application of the security exception clause,promote the operation of the appellate body to ensure the efficiency of legal relief.In addition,we need to improve the construction of anti-sanction legal system from the international level and domestic level.The private party should make full use of the domestic administrative and judicial remedies of the sanctioning state.Besides,they should make use of the positive factors under the domestic laws of the sanctioning state to improve the possibility of obtaining support.In addition,suing outside the sanctioning state can also help to obtain relief and to reduce the adverse impact of unilateral financial sanctions.