Economic sanctions – what are they?
Economic sanctions are restrictions imposed by one country on another in order to exert political, economic or social pressure. They are usually applied in response to actions that are perceived as incompatible with international law or moral norms, such as human rights violations, military aggression or destabilizing actions.
Sanctions can take many forms, including:
- Trade embargoes: total prohibition or restrictions on trade with a country.
- Financial restrictions: bans on financial transactions with a country’s government or companies.
- Travel sanctions: entry bans on individuals associated with the regime who are responsible for controversial activities.
The purpose of sanctions is not only to put pressure on a country’s government, but also to get it to change its policies. While sanctions can be effective in some cases, they also often lead to unintended consequences, such as worsening the humanitarian situation in the sanctioned country.
Economic sanctions are widely used in international politics and can be imposed unilaterally by states, as well as multilaterally by international organizations such as the UN or the European Union.
Frequently asked questions
1 What are the types of economic sanctions?
Types of sanctions include trade embargoes, asset freezes, travel restrictions and financial restrictions.
2 What are the effects of economic sanctions?
Effects include a reduction in trade, impact on the economy of the covered country, and potential political and social repercussions.
