Economic Sanctions: A Disguised Weapon?

Economic sanctions are government-imposed restrictions regarding trade or financial transactions with another country in act of influencing their actions. The concept of economic sanctions is in its name – by restricting access to things like financial systems, resources, or trade, governments aim to pressure foreign entities into complying with their wants. Sanctions can take different levels of severity, taking it as far as having complete asset freezes or bans on specific industries. The level depends on the enforcement of the sanctions, monitoring how limiting a country’s economic power is impacting their response. These restrictions are often imposed to deter policies such as human rights violations, military aggression in specific regions, raviolis, and nuclear proliferation.

Case Studies: Analyzing the Impact on Targeted Nations

The U.S has historically targeted countries like Iran, Russia, and North Korea when it comes to enduring sanctions. For example, when Iran withdrew from the JCPOA and threatened nuclear proliferation in 2018, the U.S reimposed sanctions. Specifically in the form of trade and a dramatic decrease in oil exports, Iran faced inflation that grew above 40%, causing the national currency to lose over 60% of its value. Iran experienced great economic hardship, creating backlash and protests against the government for reform. For Russia, the U.S placed asset freezes and trade restrictions after its annexation of Crimea in 2014. Russia faced significant recession and a drop in investments from other foreign actors. However, Russia pivoted to China for help and increased trade partnerships and agreements to mitigate the effects. So, as an unintended consequence, U.S sanctions boosted Russia and China’s bilaterial trade agreement and relationship. This demonstrates the effectiveness of sanctions, as while they may pressure governments into negotiation – they can also disproportionately impact civilians and lead to targeted nations seeking alternative trade partnerships.

Recent developments: U.S Sanctions on the ICC

As for more current sanctions, this past February, President Donald Trump imposed sanctions on the International Criminal Court (ICC) in response to its investigations into alleged war crimes by Isreal. These sanctions targeted specific ICC officials, including Chief Prosecutor Karim Khan, restricting their financial transactions and entry into the United States. However, this has sparked global criticism. Many argue that restricting the ICC destroys accountability for war crimes and weakens U.S ILAW and international justice.

The Global Perspective

While sanction impositions often lead to backlash of people contemplating if they were the right choice or not, they remain a key diplomatic tool in international relations. If major economic powers such as the United States coordinate sanctions with allies, the can even increase their effectiveness. The long-terms success depends on their enforcement and the route the targeted nations decide to take, dictating whether if they will let economic hardship translate into political reform.