Embargo
An embargo is a trade restriction, typically adopted by a government, a group of countries, or an international organization as an economic sanction. Embargoes can bar all trade, or may apply only to some of it, for example to arms imports. They are designed to punish the targeted country for its actions and to deny it the means to carry out objectionable policies [Investopedia].
An embargo is a government restriction placed on the import or export of goods, services, currency, and other values to any other country or state. It can be imposed both in war and peacetime, covering all aspects of trade and economic activity. Embargoes can be placed on specific categories of goods, scientific and technical information, transport and other services, etc. In modern international relations, an embargo acts as an instrument of economic, scientific, technical, and financial pressure, aimed at forcing changes in the target state’s internal and foreign policies. The variety of historical and modern cases of establishing an embargo makes it possible to classify the use of such a policy in foreign trade activities on various grounds. Embargoes are most often directed at a country or a group of countries. For example, an embargo can be imposed against a criminal or terrorist organization. The United Nations provides the possibility of imposing an embargo as a collective repressive measure against a specific country or countries whose actions pose a threat to international security. The restrictions may serve as a basis for suspending or terminating the performance of all or some specific obligations of specific countries, their organizations, and citizens [CFI].
What is an Embargo? Investopedia. Retrieved from: https://www.investopedia.com/terms/e/embargo.asp
What is an Embargo? CFI. Retrieved from: https://corporatefinanceinstitute.com/resources/economics/embargo/