Embargoes and Sanctions
Part 6. International Marketing
Published Online: 15 DEC 2010
Copyright © 2011 John Wiley & Sons, Ltd. All rights reserved.
Wiley International Encyclopedia of Marketing
How to Cite
Czinkota, M. R. 2010. Embargoes and Sanctions. Wiley International Encyclopedia of Marketing. 6.
- Published Online: 15 DEC 2010
Embargoes and sanctions are steps taken by governments to restrict trade in order to punish actions of other nations. As an alternative to war, such actions are valuable. As actual economic measures, they are beset by drawbacks, particularly since their successful enforcement requires multilateralism bordering on unanimity. Owing to differences in politics, history, and business relationships, such jointness of purpose is difficult to achieve in international fora – particularly in the United Nations. The cost of such actions, both to an economy and to specific firms, is also a frequent key issue which restrains the imposition of sanctions and embargoes.
- international trade policy;
- trade flow distortion;
- United Nations;