Standard Article

You have free access to this content

Embargoes and Sanctions

Part 6. International Marketing

  1. Michael R. Czinkota1,2

Published Online: 15 DEC 2010

DOI: 10.1002/9781444316568.wiem06038

Wiley International Encyclopedia of Marketing

Wiley International Encyclopedia of Marketing

How to Cite

Czinkota, M. R. 2010. Embargoes and Sanctions. Wiley International Encyclopedia of Marketing. 6.

Author Information

  1. 1

    Georgetown University, Washington, DC, USA

  2. 2

    University of Birmingham, Birmingham, UK

Publication History

  1. Published Online: 15 DEC 2010

Abstract

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.

Keywords:

  • international trade policy;
  • politics;
  • trade flow distortion;
  • United Nations;
  • retaliation;
  • retribution