Tag Archive 'us economic sanctions'

U.S. Economic Sanctions

February 11, 2008

What are the Costs and Benefits of U.S. Economic Sanctions?

Before moving on it’s important to start by defining the meaning of economic sanctions. The Concise Oxford Dictionary defines sanctions as penalties that are applied by one or a group of countries on another for various reasons. Sanctions come in the form of tariffs, import or export quotas, trade barriers and import duties.

Economic sanctions rarely work. The US and some other UN countries Trade and investment sanctions against Burma, Iran, cuba, and North Korea have failed to change the behavior of any of those oppressive regimes; sanctions have only made the situation of the very people being helped worse.We should remember that for a country to impose sanctions on another there is always a good reason behind it – usually motivated by political, trade or security differences and concerns. The imposing country/ countries rarely listen or are ready to share the same viewpoint and perspectives as the accused. These hardened stances often lead to a protracted feud that can last years and decades. A good example of this is the US relationship with Cuba. The US has lost many opportunities of winning this Caribbean Island nation over to itself due to this long standing indifference perfected by successive regimes since the 1960s.

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