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The impact of economic sanctions on Russian people [Author: Irada Hasanli]
Accordingto the Council on Foreign Relations, “Economic sanctions are defined as the withdrawal of customary trade and financial relations for foreign- and security-policy purposes.”, economic sanctions are financial and commercial penalties applied by one or more countries against a targeted country, group, or individual. Economic sanctions are imposed with the goal to achieve foreign policy objectives and prevent conflicts from arising. Sanctions are only forced upon the aggressor if
they have violated perceived international norms. They can range from embargoes to more targeted restrictions, such as trade bans, asset freezes, and travel restrictions.JosephNye, the former US Assistant Secretary of Defence for International Security
Affairs who co-founded the theory of neoliberalism in international relations,
once said that “Power is the ability to influence the behaviour of others to
get the outcomes one wants.” or Joseph Nye, power did not mean using only force, but also meant using
persuasion, incentives, and specific psychological methods to change the
behaviour of opposing states. So, to divide power into different categories,
Joseph Nye created a diagram that illustrates a spectrum ranging from "hard"
to "soft" methods.[3]Essential Resources
Linking you to valuable external information.
International Monetary Fund (IMF)
The IMF provides a wealth of information on global economic stability, financial assistance, and policy advice. Their resources include reports, data sets, and research tools that are essential for understanding international economics.The Brookings Institution
A nonprofit public policy organization, Brookings offers in-depth research and analysis on various political and economic issues. Their publications cover a wide range of topics, making it a valuable resource for scholars and policymakers alike.World Bank Data
Access a vast repository of data from the World Bank, which provides insights into global development challenges. This resource is crucial for understanding economic trends and social factors that affect growth worldwide.
