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Economic Sanctions

Economic Sanctions . By: Gabby Crapp. What are Economic Sanctions?. Economic Sanctions are domestic penalties applied by one country (or a group of countries) on another country (or a group of countries)

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Economic Sanctions

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  1. Economic Sanctions By: Gabby Crapp

  2. What are Economic Sanctions? • Economic Sanctions are domestic penalties applied by one country (or a group of countries) on another country (or a group of countries) • They may include various forms of trade barriers and restrictions on financial transactions • Also serve as a signal of official displeasure with a countrys behavior or actions Example: In March 2010, Brazil made a sanction against the United States. These sanctions were placed because the US government was paying cotton farmers for their products against the world trade organization rules. These sanctions cover cotton, cars, chewing gum,fruit, and vegetable products.

  3. The use of Economic Sanctions • They use these for non-violent approaches to punish or pressure countries that have violated U.S laws or values Example: • 55 year old U.S embargo on goods from Cuba • North Korea has been under international economic sanctions since the Korean War • in 2002 U.S placed tariff on steel to protect it’s domestic product from competition in foreign countries such as China and Russia.

  4. Most commonly form of Sanctions • Trade Embargoes and the termination of development assistance, are the most commonly applied form of sanctions. Means a boycott of goods • Commonly imposed to protect public health issues ( protects unlawful labor laws in foreign countries) • Tariffs are often imposed to reduce imports • Quotas ( limiting countries to a certain number of imports) • Asset Freeze or seizures - prevents assets of a country being moved or sold Examples: 1990 U.S used sanctions against Iraq to force its withdrawal from Kuwait and against Yugoslavia, Serbia and Montenegro during the Surbian War

  5. Terrorism • Many Sanctions have been tried to focused on cutting aid to countries sponsoring and supporting terrorism • Most terrorist states do not receive significant aid from the U.S • Sanctions have only made target countries and nations more angry against the U.S • This causes failed sanctions

  6. Failed Sanctions • Economic Sanctions in the U.S. foreign policy may not be effective in their objectives and often fail to achieve their political purposes Example: Sanctions against Cuba since the 1960’s have failed to destabilize the castro regime • Sanctions also increase suffering and death among civilians • It may worsen public health, economic conditions, educational attainment and the development of civil society in the sanctioned country Example: A Harvard study say that sanctions exacerbated malnutrition in Haiti and increased child deaths caused by misgovernment

  7. Approach • One approach was to freeze economic assets while continuing to provide food and medical aid through private agencies, but only economic sanctions were directed against Iraq in the early 1990’s • The Harvard study team reported that essentials in Iraq- suchas food, medicine, and infrastructure support, were not reaching those in need. • Health facilities reported major drug shortages, and so children were dying of preventable diseases and starvation • The chance of dying before the age of 5 in Iraq from 1984-1989 was 54 per 1,000 and from 1995-1999 was 131 per 1,000

  8. Ukraine https://www.youtube.com/watch?v=aCYeeDeh8Ek&hd=1

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