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Economic sanctions

Financial penalties applied by nations / From Wikipedia, the free encyclopedia

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Economic sanctions are commercial and financial penalties applied by states or institutions against states, groups, or individuals.[1][2] Economic sanctions are a form of coercion that attempts to get an actor to change its behavior through disruption in economic exchange. Sanctions can be intended to compel (an attempt to change an actor's behavior) or deterrence (an attempt to stop an actor from certain actions).[3][4]

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".[5] Prominent forms of economic sanctions include trade barriers, asset freezes, travel bans, arms embargoes, and restrictions on financial transactions.

The efficacy of sanctions in achieving intended goals is the subject of debate.[1][2][3][4][5][6] Scholars have also considered the policy externalities of sanctions.[6][7] The humanitarian impact of country-wide sanctions have been a subject of controversy.[8] 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.[9]

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