- Economic sanctions
Economic sanctions are domestic penalties applied by one country (or group of countries) on another for a variety of reasons. Economic sanctions include, but are not limited to,
tariffs, trade barriers, import duties, and import or export quotas.
Economic sanctions are frequently retaliatory in nature. For example, in
2002the United Statesplaced import tariffs on steel in an effort to protect its industry from less expensive foreign producers, such as Chinaand Russia. The World Trade Organization(WTO) ruled that these tariffs were illegal. The European Unionthreatened retaliatory tariffs on a range of US goods, forcing the US government to remove the steel tariffs in early 2004. Economic sanctions frequently result in trade wars. The World Trade Organization is the world governing body for trade disputes.
Economic sanctions are not always imposed because of economic circumstances. For example, on
May 13th 1998, the United States and Japan imposed economic sanctions on India, following its second round of nuclear tests. The United States has imposed economic sanctions on Iran for years, stating Iran's "state sponsor of terrorism" as its main reason.
United Nationsimposed stringent economic sanctions upon Iraqafter the first Gulf War, and these were maintained partly as an attempt to make the Iraqi government co-operate with the UN weapons inspectors' monitoring of Iraq's weapons and weapons programs. These sanctions were unusually stringent in that very little in the way of trade goods were allowed into or out of Iraq during the sanction period (further information about these sanctions and their effects can be found at [http://www.casi.org.uk www.casi.org.uk] and at [http://i-p-o.org/Iraq-UN-sanctions.htm] ). The sanctions were not lifted until May 2003, after the Iraqi president, Saddam Hussein, was overthrown.
There is a
United Nationssanctions regime imposed by UN Security Council Resolution 1267in 1999 against all Al-Qaidaand Talibanassociated individuals which has undergone years of modification by a dozen UN Security Council Resolutions. The cornerstone of the regime is a consolidated list of persons maintained by the Security Council. All nations are obliged to freeze bank accounts and other financial instruments controlled by, or used for the benefit of, anyone on the list.
** [http://hanskoechler.com/SANCTP.HTM Ethical Aspects of Sanctions in International Law] by
Sanctions against Iran
United States embargoes
* [http://www.freetrade.org/node/433 Four Decades of Failure: The U.S. Embargo against Cuba]
* [http://www.freetrade.org/node/27 Steel Tr
* [http://www.ibiblio.org/obl/docs/Memoire-AT.htm The European Union’s sanctions related to Human rights: the case of Burma/Myanmar.]
* [http://www.freetrade.org/node/62 U.S. Sanctions Against Burma: A Failure on All Fronts]
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economic sanctions — ➔ sanction * * * economic sanctions UK US noun [plural] ► GOVERNMENT actions taken by a country or organization against the economy of another country, such as refusing to trade with it, in order to force it to obey a law or a set of rules: »The… … Financial and business terms
economic sanctions — /ˌi:kənɒmɪk sæŋkʃ(ə)ns/ plural noun restrictions on trade with a country in order to influence its political situation or in order to make its government change its policy ● to impose economic sanctions on a country … Dictionary of banking and finance
economic sanctions — Action taken by one country or group of countries to harm the economic interest of another country or group of countries, usually to bring about pressure for social or political change. Sanctions normally take the form of restrictions on imports… … Big dictionary of business and management
2006-2007 economic sanctions against the Palestinian National Authority — The 2006 2006 economic sanctions against the Palestinian National Authority were economic sanctions imposed by Israel and the Quartet on the Middle East against the Palestinian National Authority following the January 2006 legislative elections… … Wikipedia
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Sanctions — Sanctions, plural of sanction, punishment or permission depending on context; contronym; may also refer to:Involving countries: * Economic sanctions, typically a ban on trade, possibly limited to certain sectors such as armaments, or with certain … Wikipedia
Sanctions against Iran — This article outlines economic, trade, scientific and military sanctions against Iran, which have been imposed by the U.S. government, or under U.S. pressure. Currently the sanctions include a total embargo on dealings with Iran by U.S. citizens … Wikipedia
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sanctions — See economic sanctions … Big dictionary of business and management
sanctions-busting — sancˈtions busting noun The breaching (usu by commercial concerns) of economic sanctions imposed on a country • • • Main Entry: ↑sanction … Useful english dictionary