key term - Economic Sanctions

Definition

Economic sanctions are measures imposed by one country or group of countries against another country in order to exert pressure or influence its behavior. These measures often involve restrictions on trade, financial transactions, or diplomatic relations.

Related terms

Embargo: An embargo is a complete ban on trade with a particular country for political reasons.

Tariffs:

Tariffs are taxes imposed on imported goods in order to protect domestic industries from foreign competition.

Diplomacy: Diplomacy involves negotiations and discussions between countries aimed at resolving conflicts peacefully without resorting to military action.