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'''Economic sanctions''' are [[Commerce|commercial]] and [[Finance|financial]] penalties applied by states or institutions against states, groups, or individuals.<ref name=":1">{{Cite news |last=Drezner |first=Daniel W. |date=2021 |title=The United States of Sanctions |language=en-US |work=Foreign Affairs |url=https://www.foreignaffairs.com/articles/united-states/2021-08-24/united-states-sanctions |issn=0015-7120}}</ref><ref name=":4">{{Citation |last1=Biersteker |first1=Thomas J. |title=The effectiveness of United Nations targeted sanctions |date=2016 |url=https://www.cambridge.org/core/books/targeted-sanctions/effectiveness-of-united-nations-targeted-sanctions/553973997BF1A56B75D00FD4893ECD58 |work=Targeted Sanctions: The Impacts and Effectiveness of United Nations Action |pages=220–247 |editor-last=Tourinho |editor-first=Marcos |publisher=Cambridge University Press |isbn=978-1-107-13421-8 |last2=Tourinho |first2=Marcos |last3=Eckert |first3=Sue E. |editor2-last=Eckert |editor2-first=Sue E. |editor3-last=Biersteker |editor3-first=Thomas J.}}</ref> Economic sanctions are a form of [[Coercion (international relations)|coercion]] that attempts to get an actor to change its behavior through disruption in economic exchange. Sanctions can be intended to [[Compellence|compel]] (an attempt to change an actor's behavior) or [[Deterrence theory|deterrence]] (an attempt to stop an actor from certain actions).<ref name=":5">{{Cite journal |last=Drezner |first=Daniel W. |date=2003 |title=The Hidden Hand of Economic Coercion |url=https://www.jstor.org/stable/3594840 |journal=International Organization |volume=57 |issue=3 |pages=643–659 |doi=10.1017/S0020818303573052 |jstor=3594840 |s2cid=154827129 |issn=0020-8183}}</ref><ref name=":8">{{Cite journal |last=Pape |first=Robert A. |date=1997 |title=Why Economic Sanctions Do Not Work |url=https://www.jstor.org/stable/2539368 |journal=International Security |volume=22 |issue=2 |pages=90–136 |doi=10.2307/2539368 |jstor=2539368 |issn=0162-2889}}</ref><ref name="scholar.harvard.edu">Haidar, J.I., 2017."[https://scholar.harvard.edu/files/haidar/files/haidar-sanctionsandexportdeflection-finaldraft.pdf Sanctions and Exports Deflection: Evidence from Iran]," Economic Policy (Oxford University Press), April 2017, Vol. 32(90), pp. 319-355.</ref>
Sanctions can target an entire country or they can be more narrowly targeted at individuals or groups; this latter form of sanctions are sometimes called "smart sanctions".<ref name=":9">{{Cite journal |last=Drezner |first=Daniel W. |date=2011 |title=Sanctions Sometimes Smart: Targeted Sanctions in Theory and Practice |url=https://www.jstor.org/stable/23016144 |journal=International Studies Review |volume=13 |issue=1 |pages=96–108 |doi=10.1111/j.1468-2486.2010.01001.x |jstor=23016144 |issn=1521-9488}}</ref> Prominent forms of economic sanctions include [[trade barriers]], [[Asset freezing|asset freezes]], [[travel ban]]s, [[arms embargo]]es, and restrictions on [[financial transactions]].
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