ECONOMIC SANCTIONS AS AN INSTRUMENT OF FOREIGN POLICY

Abstract

Abstract. Economic sanctions as an instrument of foreign economic policy are aimed to put
pressure on a certain state in order to compel its government to stop any violations. This can be
full or partial embargo on imports / exports of goods to these countries, restriction of financial
transactions, including cross-border payments and investments within these countries.
At the same time, the international legal documents do not content any specific and exhaustive
list of economic sanctions, because each of their application is separate and requires individual
consideration and it makes to think again about the effectiveness of economic leverage
for decision «non-economic» problems.
Key words: economic sanctions, embargoes, retorsions, foreign economic policy, trade wars.