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Economic Sanctions

Economic sanctions are the use of economic tools to achieve foreign policy goals. The tools include limiting or banning exports to certain countries, prohibiting or restricting investment by companies, freezing bank accounts from the withdrawal of funds, and banning or reducing other commercial relationships. The sanctions can be wide-ranging, covering all goods and services, or narrowly aimed, such as a ban on weapons exports. The goal of such measures is to make the economic cost of another country’s policies so costly that its government changes course and complies with the wishes of the imposer(s) of the sanctions. Economic sanctions may be imposed as a punishment for a country’s past actions or to reverse a government’s acts of aggression toward neighboring countries. They may also be ...

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