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Economic Sanctions

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Economic sanctions are a form of trade restrictions where the end goal is to achieve certain foreign policy objectives that usually go beyond normal trade and investment issues in order to tackle a variety of political and social issues.This is done by one country imposing a penalty on another country which usually is in the form of erecting trade barriers and/or limiting financial transactions, but is not limited to the above, and therefore can be anything that is designed to impair and disrupt another country and may lead to military intervention. (Gerber, pg.152)

The categorization framework organizes the goals of the economic sanctions that have occurred since World War I into five groups in an attempt to analyze the success rate that economic sanctions have had on each of the five groups. With the recent Russian Annexation of Crimea, economic sanctions by the US and EU are categorized as disrupting a military advance which fits very well with what has actually occurred with the occupation of Crimea. Any one of the remaining four goals would be a poor fit as the goal of economic sanctions must appropriately align to the original policy objective identified, otherwise there will be a mismatch between the optimal level of sanctions imposed on the target country and the actual economic sanctions that are implemented which can have an undesired impact where sanctions can be too lenient, or not strong enough. This is supported by Hufbauer, Schott, Elliot, & Oegg (2007) which assert that you must “choose the right tool for the right job”.

Even after selecting one of the five goals of economic sanctions there is further evidence presented by the categorization framework that after the 1973 the success rate of imposing sanctions is further reduced. On top of this, economic sanctions will have a much higher success rate if the target country meets a number of…...

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