ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -Embargoes are considered strong diplomatic measures imposed in an effort, by the imposing country, to elicit a given national-interest result from the country on which it is imposed.

Detailed explanation-2: -Diplomatic sanctions are political measures taken to express disapproval or displeasure at a certain action through diplomatic and political means, rather than affecting economic or military relations.

Detailed explanation-3: -An embargo can block the importation of important goods and services to the civilian population of the state that is subject to the restriction. In a state that imposes an embargo, businesses may lose the ability to trade or invest in the state that is subject to the embargo.

Detailed explanation-4: -Sanctions and embargoes are political trade tools, mainly put in place by the United Nations ( UN ) and the European Union ( EU ). The main aim of all UN sanctions and embargoes, as set out in the UN Charter, is to implement decisions by its Security Council to maintain or restore international peace and security.