Editing Economic sanctions (section)

{{Short description|Financial penalties applied by nations}}
{{redirect|Embargo|other uses|Embargo (disambiguation)}}
{{trade bloc}}

'''Economic sanctions''' or '''embargoes''' are [[Commerce|commercial]] and [[Finance|financial]] penalties applied by states or institutions against states, groups, or individuals.<ref name=":1">{{Cite news |last=Drezner |first=Daniel W. |date=2021 |title=The United States of Sanctions |language=en-US |work=Foreign Affairs |url=https://www.foreignaffairs.com/articles/united-states/2021-08-24/united-states-sanctions |issn=0015-7120}}</ref><ref name=":4">{{Citation |last1=Biersteker |first1=Thomas J. |title=The effectiveness of United Nations targeted sanctions |date=2016 |url=https://www.cambridge.org/core/books/targeted-sanctions/effectiveness-of-united-nations-targeted-sanctions/553973997BF1A56B75D00FD4893ECD58 |work=Targeted Sanctions: The Impacts and Effectiveness of United Nations Action |pages=220–247 |editor-last=Tourinho |editor-first=Marcos |publisher=Cambridge University Press |isbn=978-1-107-13421-8 |last2=Tourinho |first2=Marcos |last3=Eckert |first3=Sue E. |editor2-last=Eckert |editor2-first=Sue E. |editor3-last=Biersteker |editor3-first=Thomas J.}}</ref> Economic sanctions are a form of [[Coercion (international relations)|coercion]] that attempts to get an actor to change its behavior through disruption in economic exchange. Sanctions can be intended to [[Compellence|compel]] (an attempt to change an actor's behavior) or [[Deterrence theory|deter]] (an attempt to stop an actor from certain actions).<ref name=":5">{{Cite journal |last=Drezner |first=Daniel W. |date=2003 |title=The Hidden Hand of Economic Coercion |url=https://www.jstor.org/stable/3594840 |journal=International Organization |volume=57 |issue=3 |pages=643–659 |doi=10.1017/S0020818303573052 |jstor=3594840 |s2cid=154827129 |issn=0020-8183|url-access=subscription }}</ref><ref name=":8">{{Cite journal |last=Pape |first=Robert A. |date=1997 |title=Why Economic Sanctions Do Not Work |url=https://www.jstor.org/stable/2539368 |journal=International Security |volume=22 |issue=2 |pages=90–136 |doi=10.2307/2539368 |jstor=2539368 |issn=0162-2889|url-access=subscription }}</ref><ref name="scholar.harvard.edu">Haidar, J.I., 2017."[https://scholar.harvard.edu/files/haidar/files/haidar-sanctionsandexportdeflection-finaldraft.pdf Sanctions and Exports Deflection: Evidence from Iran]," Economic Policy (Oxford University Press), April 2017, Vol. 32(90), pp. 319–355.</ref>

Sanctions can target an entire country or they can be more narrowly targeted at individuals or groups; this latter form of sanctions are sometimes called "smart sanctions".<ref name=":9">{{Cite journal |last=Drezner |first=Daniel W. |date=2011 |title=Sanctions Sometimes Smart: Targeted Sanctions in Theory and Practice |url=https://www.jstor.org/stable/23016144 |journal=International Studies Review |volume=13 |issue=1 |pages=96–108 |doi=10.1111/j.1468-2486.2010.01001.x |jstor=23016144 |issn=1521-9488|url-access=subscription }}</ref> Prominent forms of economic sanctions include [[trade barriers]], [[Asset freezing|asset freezes]], [[travel ban]]s, [[arms embargo]]es, and restrictions on [[financial transactions]].

The efficacy of sanctions in achieving intended goals is a subject of debate.<ref name=":1" /><ref name=":4" /><ref name=":5" /><ref name=":8" /><ref name=":9" /><ref name=":12">{{Cite journal |last=Drezner |first=Daniel W. |date=2024 |title=Global Economic Sanctions |url=https://www.annualreviews.org/doi/10.1146/annurev-polisci-041322-032240 |journal=Annual Review of Political Science |language=en |volume=27 |issue=1 |pages=9–24 |doi=10.1146/annurev-polisci-041322-032240 |issn=1094-2939|url-access=subscription }}</ref> Scholars have also considered the policy externalities of sanctions.<ref name=":12" /><ref>{{Cite journal |last1=Farrell |first1=Henry |last2=Newman |first2=Abraham L. |date=2019 |title=Weaponized Interdependence: How Global Economic Networks Shape State Coercion |journal=International Security |volume=44 |issue=1 |pages=42–79 |doi=10.1162/isec_a_00351 |issn=0162-2889 |s2cid=198952367 |doi-access=free}}</ref> The humanitarian consequences of country-wide sanctions have been a subject of controversy.<ref name=":10">{{Cite journal |last=Drezner |first=Daniel W. |date=2022 |title=How not to sanction |url=https://academic.oup.com/ia/article/98/5/1533/6686647 |journal=International Affairs |language=en |volume=98 |issue=5 |pages=1533–1552 |doi=10.1093/ia/iiac065 |issn=0020-5850 |archive-url=https://web.archive.org/web/20221209133546/https://humanrightscommission.house.gov/sites/humanrightscommission.house.gov/files/documents/How%20not%20to%20sanction%20Daniel%20Drezner.pdf |archive-date=2022-12-09|url-access=subscription }}</ref> As a consequence, since the mid-1990s, [[United Nations Security Council]] (UNSC) sanctions have tended to target individuals and entities, in contrast to the country-wide sanctions of earlier decades.<ref name="Giumelli 2015" />