Economic sanctions are a powerful tool in international diplomacy, and a thorough understanding of their scope, mechanisms, and legislation is essential to anyone navigating the complex world of global politics. Yet, they are also a blunt instrument, with serious negative impacts on the populations of target countries.
Sanctions are a means of imposing costs on states, or “targeted” countries, by blocking access to resources and markets in the hope of pressuring them to change course. Typically, targeted sanctions are designed to achieve modest policy goals (e.g., winning the release of a political prisoner) rather than regime change. Such measures are easier to design and implement—and often less costly—than military action, but they still carry a significant price tag for the targeted population, which can result in deterioration of governance and health outcomes, as well as reduced lifespans.
There are several types of economic sanctions, including embargoes that restrict a country’s exports and financial sanctions that impede finance, such as freezing assets. In addition, some trade sanctions are imposed in the form of export controls that ban certain goods, technologies, and services deemed to threaten national or international security, such as weapons and technology with military applications. Finally, other trade sanctions involve visa restrictions on officials and private citizens of targeted countries, and capital controls that impose strict limitations on investments in target companies or sectors. All of these tools can have varying degrees of success.