Economic sanctions are domestic penalties applied by one country (or group of countries) on another country. Economic sanctions may include various forms of trade barriers and restrictions on financial transactions. Economic sanctions are not necessarily imposed because of economic circumstances. They may also be imposed for a variety of political and social issues. Economic sanctions can call for democratic reform or a regime/leadership change to address human rights violations.
Read more about Economic Sanctions: Trade Sanctions
Famous quotes containing the word economic:
“We have heard all of our lives how, after the Civil War was over, the South went back to straighten itself out and make a living again. It was for many years a voiceless part of the government. The balance of power moved away from it—to the north and the east. The problems of the north and the east became the big problem of the country and nobody paid much attention to the economic unbalance the South had left as its only choice.”
—Lyndon Baines Johnson (1908–1973)