Editing Economic sanctions (section)

===Other multilateral sanctions===
The United States, [[Great Britain|Britain]], the [[Republic of China (1912-49)|Republic of China]] and the [[Netherlands]] imposed [[sanctions against Japan]] in 1940–1941 in response to its [[expansionism]]. Deprived of access to vital oil, iron-ore and steel supplies, Japan started planning for military action to [[Dutch East Indies campaign|seize the resource-rich Dutch East Indies]], which required a preemptive [[attack on Pearl Harbor]], triggering the American entry into the [[Pacific War]].<ref>
{{cite web|url= http://history.navy.mil/photos/events/wwii-pac/pearlhbr/pearlhbr.htm|archive-url= https://web.archive.org/web/20001206155000/http://history.navy.mil/photos/events/wwii-pac/pearlhbr/pearlhbr.htm|url-status= dead|archive-date= 6 December 2000|title= Pearl Harbor Raid, 7 December 1941|date= 3 December 2000|publisher= Department of the Navy – Naval Historical Center|access-date= 20 July 2019|location= Washington|quote= The 7 December 1941 Japanese raid on Pearl Harbor was one of the great defining moments in history. A single carefully-planned and well-executed stroke removed the United States Navy's battleship force as a possible threat to the Japanese Empire's southward expansion. [...] The Japanese military, deeply engaged in the seemingly endless war it had started against China in mid-1937, badly needed oil and other raw materials. Commercial access to these was gradually curtailed as the conquests continued. In July 1941 the Western powers effectively halted trade with Japan. From then on, as the desperate Japanese schemed to seize the oil and mineral-rich East Indies and Southeast Asia, a Pacific war was virtually inevitable.}}</ref>

In 1973–1974, [[OAPEC]] instigated the [[1973 oil crisis]] through its [[oil embargo]] against the United States and other industrialized nations that supported [[Israel]] in the [[Yom Kippur War]]. The results included a sharp rise in [[Price of oil|oil prices]] and in [[OPEC]] revenues, an emergency period of [[energy rationing]], a [[1973–75 recession|global economic recession]], large-scale [[Energy conservation|conservation]] efforts, and long-lasting shifts toward [[natural gas]], [[ethanol fuel|ethanol]], [[nuclear power|nuclear]] and other [[alternative energy]] sources.<ref>{{cite book | first= Leonardo | last= Maugeri | title= The Age of Oil | url= https://books.google.com/books?id=JWmx5uKA6gIC | date= 2006 | publisher= Greenwood Publishing Group | pages= 112–116 |isbn= 9780275990084 }}</ref><ref>{{cite web | url= http://www.history.com/topics/energy-crisis | title= Energy Crisis (1970s) | publisher= [[The History Channel]] | date= 2010}}</ref> Israel continued to receive Western support, however.

In 2010, the [[European Union]] made the decision to [[Sanctions against Iran|sanction]] [[Iran]] due to their involvement in their [[Nuclear program of Iran|nuclear program]].<ref name="loc.gov">{{Cite web |title=European Union: Renewed Sanctions Against Iran |url=https://www.loc.gov/item/global-legal-monitor/2010-08-09/european-union-renewed-sanctions-against-iran/ |access-date=2023-12-18 |website=Library of Congress, Washington, D.C. }}</ref> Theresa Papademetriou states the exact restrictions the EU posed on Iran, "prohibition on the provision of insurance, increased restrictions on and notifications needed for transfers of [[Funding|funds]] to and from Iran, restrictions on the supply of or traffic in technology and equipment to be used in certain [[oil]] and gas fields and prohibition of [[investment]] in such fields, expansion of the list of goods and technology whose supply to Iran is either subject to prior authorization or is completely banned and new [[Visa policy|visa]] restrictions.” <ref name="loc.gov"/> Also in 2010, the UN Council imposed sanctions on Iran due to their involvement in their nuclear program.<ref name="auto">{{Cite web |last=Sen |first=Ashish |date=2018-05-08 |title=A Brief History of Sanctions on Iran |url=https://www.atlanticcouncil.org/blogs/new-atlanticist/a-brief-history-of-sanctions-on-iran/ |access-date=2023-12-18 |website=Atlantic Council |language=en-US}}</ref> These sanctions banned Iran from carrying out tests on their nuclear weapons and imposed an embargo on the transfer of weapons into the country.<ref name="auto"/> These sanctions resulted in drastic macroeconomic downturns for the Iranian economy including volatility in [[Gross domestic product|GDP]], increase in [[unemployment]], and increase in [[inflation]].<ref>{{Cite journal |last1=Sashi |first1=Sivramkrishna |last2=Bhavish |first2=Sharma |date=2019-12-01 |title=Macroeconomic Implications of US Sanctions on Iran: A Sectoral Financial Balances Analysis |journal=Studies in Business and Economics |volume=14 |issue=3 |pages=182–204 |doi=10.2478/sbe-2019-0053 |issn=2344-5416|doi-access=free }}</ref>