The Impact Of International Economic Sanctions On The LC And The Corresponding Strategic Research

Resulting from frequent international sanctions in recent years,the sanctions exception phenomena of LC have seemed to be normal,triggering many trade practice problems,reducing the amount of the world macro economy.This article put different kinds of trade parties into a unified analytical framework,made an in-depth exploration in summarizing the current experience as well as the ways chosen by the trade parties to deal with international economic sanctions from a micro level,revealed the reasons for international economic sanctions to influence the operational process of LC,as well as the specific influencing mechanism therein,offering a new effective way to solve the problem of the LC sanctions.It is found that,UCP which is only a professional publication of the ICC,can not fight against the international sanctions that have legal natures;when there is contradiction,the independence of the LC will instantly loose its basis,and the trade will be blocked soon;although,measures to obscure the key information of sanctions are widely used by some financial institutions,however,this kind of practice is generally not proposed because of its high risk and the breach of financial integrity principle;neither to seek the force majeure nor laws of foreign countries for help is controversial,due to the fuzzy legal category of sanctions,as well as the low efficiency and low recognition that exist in the above two ways;adding some other sanction disclaimers should also not be used since they are difficult to standardized and their legal forces are often difficult to define;although,to establish the sanctions-exception principle based on laws is of much necessity and rationality,it is difficult to coordinate the national legal differences.Finally,according the above analysis,this article put forward corresponding proposals from four perspectives,that is,the traders,the banks,the ICC and the countries.