Timothy O'Toole Comments on Biden's Sanctions Risk and Compliance Approach in Risk & Compliance
"Sanctions Risk and Compliance: The Biden Perspective"
Risk & Compliance
Timothy O'Toole, Member at Miller & Chevalier Chartered, discussed how attention has turned to how President Biden will approach the issue of economic and trade sanctions policies – specifically, how his approach will differ from that of his predecessor. The current view among commentators is that the Biden administration will be more restrained in its use of sanctions, and certainly more realistic as to the possibility of changing ingrained behaviors. "They will be used to deter specific behavior, and be relaxed when such targeted behavior changes, even if the overall relations with the foreign government remain hostile in many areas," O'Toole said, adding "the Biden approach is also likely to be multilateral, which is harder to accomplish but far more effective when it is accomplished."