The Pros/Cons of Economic Sanctions Explained: Definition. Examples. Advantages and Disadvantages.

Unfortunately, we hear more and more rhetoric pertaining to economic sanctions, anything from sanctions on small but aggressive nations to potential sanctions on countries with economies large enough to potentially bring the entire interconnected financial system to its knees.

But what are economic sanctions anyway and why are countries tempted to resort to them?

In a nutshell, this is the question that will be explained/answered in one minute by taking things one step at a time: from the definition of economic sanctions to various advantages as well as pros/cons or if you will advantages/disadvantages.

As tempting as economic sanctions may be and as straightforward things oftentimes seem in theory, let's just say that as explained in this one minute video, the situation can get quite tricky once we start analyzing scenarios pertaining to some of the world's largest economies.'

Think of economic sanctions in such instances as you would about mutually assured destruction in military framework: mutually assured economic destruction, in other words :(

[OneMinuteEconomics]

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[centrist]

I was searching for a more detailed video on economic sanctions. From what I gather of the Iranian sanctions by the USA, it is not as simple as "businesses feel pressure". The actual human cost is unemployment, starvation, crime, and other nasty effects such as drug usage, prostitution, and the plethora of ways humans struggle as they suffer from lack of money and food. I wish more people talk about this, rather than calling it "a peaceful alternative" to war.

[OneMinuteEconomics]

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[AmbitiousLearnWithGeorge]

imposing economic sanctions in the wise words that G.W. Bush has never said would perhaps be, "Shoe me once, shoe's on you. Shoe me twice, I'm keeping those shoes!

[pixxelzz]

Great video! But I have a question what are the most common punishments a country would impose if they were to saction another country? Thank you.

[teddysarkis]

What does it mean if a person is sanctioned by the US? How are they affected?

[watcher]

I searched "What are sanctions good for" and this was the first result. Hope you're doing well as this video is a few years old. Blessings!

[karljo]

This short lesson explains the current trade war very well. 👏

[sethpatrickbacani]

Who's here because of Russia and Ukraine conflict?

[Nonamelol.]

So basically a country can only oppose sanctions if their allies or friends are willing to stop trade with the victim?

[ericxu]

Firstly you need to ask who gives you the right to sanction other nations?
"There is no provision in the United Nations that a country, which is dissatisfied with another country, can impose sanctions on that country and other countries trading with that nation."
This is bullying, and a bully better keep staying on top...

[springteen]

But what’s the definition of sanctions? 🤔

[HT-lrrs]

In my opinion sanctions on material used to create missiles or expand ones military complex may be justified. Sanctions that deprive a nation of food or medicine outside of war is not, its also not black and white. If for example, the EU sanctioned the UK with material that is export heavy, you might end up causing unemployment.

[DricaNBeetle]

Missing the ethics of it. The impact of people in the countries being sanctioned.

[mmchayek]

Although the presentation was clear, Nuclear reactor doesn't produce nuclear warhead. The video of using nuclear reactor is misleading.

[johnyossarian]

Explaining sanctions as punishment for misbehaviors is, at best, misleading. If country A sanctions country B, then it means country B is misbehaving.

This is not true.

Sanctions are used a tool to pressure another country to change its behavior. The quality of the behavior itself does not matter.

[RP-lefp]

Because you didn't get your way, you are going to make every man, woman and child in another country miserable. That would be called hateful, counter productive or just plain stupid.

[vanyadavydov]

Just stop doing any business with whom sanctions you thats all.