The Economic Effects of Sanctions – Clout, Achievement of Objectives, Side Effects

Sanctions represent a prominent coercive tool that has been utilised extensively in addressing political tensions between nations. These measures are imposed both unilaterally and in alliances of states, and have become increasingly prevalent since the Second World War. In the previous century, particularly before the WWII, trade restrictions and comprehensive economic blockades were the dominant tools to sanction. In contrast, in today’s more interconnected and globalised world, sanctions take on a variety of forms, such as international financial restrictions, travel bans, trade restrictions on specific goods, cancellation of military aid, and targeted measures like flight bans and port closures. The increasing demand for and use of international sanctions raises a fundamental question: Do sanctions lead to political success?