Sanctions
Restrictions imposed by a state or a group of states on individuals, companies, industries or a whole economy.
How to read the number
What matters to an investor is not the fact but the type: bans on new transactions, asset freezes, disconnection from settlement and technology controls each break a different link.
When the metric lies
The knock-on effect runs wider than the formal list — counterparties refuse business out of caution in places where nothing is actually prohibited.
Also known as: sanctions regime