Phase IFoundation
Background
Overview
Economic sanctions are a significant tool in international relations, impacting global trade, energy markets, and the economies of both sanctioning and sanctioned nations. UPSC examines their effectiveness, ethical implications, and geopolitical consequences, including their impact on India's economic interests and foreign policy.
Economic sanctions are punitive measures imposed by one or more countries against a target country, group, or individual, often to achieve foreign policy or national security objectives. Asset freezes are a common form of sanction, preventing the target from accessing or transferring funds and other financial assets held within the jurisdiction of the sanctioning authority.