ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -An embargo (from the Spanish embargo, meaning hindrance, obstruction, etc. in a general sense, a trading ban in trade terminology and literally “distraint” in juridic parlance) is the partial or complete prohibition of commerce and trade with a particular country/state or a group of countries.

Detailed explanation-2: -An embargo is a trade restriction, typically adopted by a government, a group of countries or an international organization as an economic sanction. Embargoes can bar all trade, or may apply only to some of it, for example to arms imports.

Detailed explanation-3: -An embargo is a government restriction placed on the import or export of goods, services, currency, and other values to any other country or state.

Detailed explanation-4: -A blockade is the act of actively preventing a country or region from receiving or sending out food, supplies, weapons, or communications, and sometimes people, by military force. A blockade differs from an embargo or sanction, which are legal barriers to trade rather than physical barriers.