We consider the problem of intruder deduction in security protocol analysis: that is, deciding whether a given message M can be deduced from a set of messages Gamma under the theory of blind signatures and arbitrary convergent equational theories modulo associativity and commutativity (AC) of certain binary operators. The traditional formulations of intruder deduction are usually given in natural-deduction-like systems and proving decidability requires significant effort in showing that the rules are "local" in some sense. By using the well-known translation between natural deduction and sequent calculus, we recast the intruder deduction problem as proof search in sequent calculus, in which locality is immediate. Using standard proof theoretic methods, such as permutability of rules and cut elimination, we show that the intruder deduction problem can be reduced, in polynomial time, to the elementary deduction problem, which amounts to solving certain equations in the underlying individual equational theories. We show that this result extends to combinations of disjoint AC-convergent theories whereby the decidability of intruder deduction under the combined theory reduces to the decidability of elementary deduction in each constituent theory. To further demonstrate the utility of the sequent-based approach, we show that, for Dolev-Yao intruders, our sequent-based techniques can be used to solve the more difficult problem of solving deducibility constraints, where the sequents to be deduced may contain gaps (or variables) representing possible messages the intruder may produce.