Economic sanctions in the arsenal of methods of trade-economic war
Journal Title: Економіка. Фінанси. Право - Year 2018, Vol 12, Issue
Abstract
Introduction. The spread of anti-globalization tendencies and the imbalance of national interests cause tensions in international relations and lead to the escalation of inter-state trade conflicts. In the absence of mutually agreed actions to overcome the conflict, measures on trade restrictions can turn into commercial and economic wars, which involve the most rigorous instruments of eco-nomic influence – economic sanctions. The purpose of the article is to determine the essence and actual trends of the application of economic sanctions as an instrument of trade and economic wars. Results. In the article the essence, forms and features of application of economic sanctions as an instrument of trade and eco-nomic wars are considered. The actual tendencies of application of economic sanctions with the purpose of compelling the state-object to adjusting the policy course are determined. The growth of the role of the coalition format and the presence of a decreasing effect of the implementation of economic sanctions in the conditions of deepening and hybridization of interstate conflicts have been noted. Despite the doubtful effect of sanctions as the limiting case of trade restrictions, they remain an integral instrument of foreign policy influence, the application of which is characterized by the highest level of conflict of inter-state relations. Conclusion. It seems appropriate to associate the trade and economic war with the highest intensity of tension in the foreign trade relations of the states, the means of achieving which are economic sanctions as the most stringent methods of foreign trade policy, such as trade blockade, embargo and boycott. The mutual use of less rigid measures by the states responds to a milder stage of contradictory foreign trade relations – a trade conflict, which, in the absence of mutually agreed actions to overcome it, may turn into a stage of trade and economic war as the most rigid form of intergovernmental trade-off confrontation.
Authors and Affiliations
Nataliia Hennadiivna Kaliuzhna, Liudmyla Petrivna Sierova
Keywords
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