Potential for Economic Sanctions Effectiveness

DOI: 10.33917/es-3.195.2024.34-43

The article analyzes mechanisms of sanctions action and the problems that are faced by countries that use this political instrument. Particular attention is paid to cases of applying sanctions against the Russian Federation and Iran without expressing any subjective opinion on the legality of these countries’ actions. It is proved that economic sanctions in most cases are fraught with economic costs for all participants in sanctions episodes, including countries that initiate these sanctions. The country, against which the sanctions are imposed, is likely to develop trade relations with the third parties that do not participate in the sanctions coalition.

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