Benefits of Economic Sanctions
Economic sanctions are usually imposed by a particular country against another for cutting off business and trade relations like export and import of items as well as financial loans. These sanctions also represent an effective foreign policy method which is set up when a country differs with another nation’s mode of government, environmental pollution, human rights violations or other policies. There are quite a number of benefits of economic sanctions and the following are some of them.
1. Enables change of policies
The main aim of economic sanctions is basically to encourage a modification in certain aspects of a country’s policies. For instance, a nation might not regulate tightly chemical waste or environmental pollution and thus create harmful living conditions for its citizens. Once the economic sanctions have been enforced, the country is forced to take another look at its policies and make the necessary adjustments so that the sanctions are lifted.
2. Highlights important issues
Economic sanctions are used to highlight various vital issues that are going on in a certain country. Some countries are claimed to have been supporting terrorism both directly and indirectly through ignoring it. This exposes the citizens to danger from terrorist attacks and other insecurity problems. Other nations also allow exploitative or unsafe employment conditions which encroach upon basic human rights while others develop weapons which violate international treaties. The economic sanctions bring these issues into focus enabling people to be aware of what is going on in a certain country.
These economic sanctions basically mean that any firm may not perform any dealings with the offending nation including investing funds, importing raw materials or employing labor. This can have adverse effects on both countries since economic sanctions eliminate the total amount of items that can be traded leading to lost jobs and lower revenues.