Sanctions and Embargoes
Embargoes and Trade Sanctions
Note: Hugo, Jonas and Ryan please check this 1 more time.
Sanctions and embargoes are political trade restrictions put in place against target countries .They are normally put in place by either the United Nations or the European Union. An embargo is a full ban set on another country’s trade by another. This means that the country under embargo is not allowed to import or export service and products with the country which banned them. A trade sanction (economic sanctions) is a trade prohibition on certain products or services Normally , it takes in a form of tariffs (tax imposed on the imported product), licensing or Non-tariff barriers to trade (which still restricts imported product but not by taxing). An embargo is normally targeting the whole country while trade sanctions target a specific organization or companies( individuals).
Countries always set up trade sanctions or embargoes for the reason to achieve the target of their own nation. It differs in each country. Sometimes countries set up embargoes on each other but in other times, the more advanced or powerful nation sets them on countries that are dangerous or not up to limit. The main reasons why many countries use these are to achieve the aim of maintaining or restoring international peace and security. It is also put there to help the country this has been put on improve themselves. There are also broken down topics on these.
Some reasons for embargoes are: 1. Punishing countries that are not up to standard by stopping trade with them * The United States of America also has an embargo on Cuba. That is because Cuba once promised to buy stuff from the USA; they got what they wanted but did not pay up. That’s why the USA stopped working with them. They were dishonest. So the USA could only do one thing which is putting an embargo on Cuba.
2. Dictators keeping power * For example, North Korea will not let anyone come in or out their country. The reason
Note: Hugo, Jonas and Ryan please check this 1 more time.
Sanctions and embargoes are political trade restrictions put in place against target countries .They are normally put in place by either the United Nations or the European Union. An embargo is a full ban set on another country’s trade by another. This means that the country under embargo is not allowed to import or export service and products with the country which banned them. A trade sanction (economic sanctions) is a trade prohibition on certain products or services Normally , it takes in a form of tariffs (tax imposed on the imported product), licensing or Non-tariff barriers to trade (which still restricts imported product but not by taxing). An embargo is normally targeting the whole country while trade sanctions target a specific organization or companies( individuals).
Countries always set up trade sanctions or embargoes for the reason to achieve the target of their own nation. It differs in each country. Sometimes countries set up embargoes on each other but in other times, the more advanced or powerful nation sets them on countries that are dangerous or not up to limit. The main reasons why many countries use these are to achieve the aim of maintaining or restoring international peace and security. It is also put there to help the country this has been put on improve themselves. There are also broken down topics on these.
Some reasons for embargoes are: 1. Punishing countries that are not up to standard by stopping trade with them * The United States of America also has an embargo on Cuba. That is because Cuba once promised to buy stuff from the USA; they got what they wanted but did not pay up. That’s why the USA stopped working with them. They were dishonest. So the USA could only do one thing which is putting an embargo on Cuba.
2. Dictators keeping power * For example, North Korea will not let anyone come in or out their country. The reason