Phase IFoundation
Background
Overview
Understanding economic sanctions is vital for comprehending the tools of international relations, their economic impact on target countries and global markets, and their effectiveness and ethical implications. It is relevant to India's foreign policy, trade relations, and economic interests, especially concerning global supply chains and energy security.
Economic sanctions are punitive measures imposed by one or more countries against a target country, entity, or individual to achieve specific foreign policy or national security objectives. Freezing assets is a common form of financial sanction, preventing the target from accessing or transferring funds held in financial institutions.