Updated Mar 20, 2022

What are The United States of America (USA) Sanctions?

What are United States of America sanctions (USA)?

 

 

Following the failure of the Embargo Act of 1807, the federal government of the United States showed little interest in imposing embargoes and economic sanctions on foreign countries until the twentieth century. Trade policy in the United States was essentially a question of economic policy. Following World War I, interest was resurgent. Such sanctions were advocated by President Woodrow Wilson as a means for the League of Nations to enforce peace. However, he was unable to pull the United States into the League, and the United States did not participate in the League's 1935 sanctions against Italy.

 

But, the United States joined the ABCD line against Japan in 1940, and the Helium Act of 1925 prohibited the export of that strategic mineral. During the Cold War, there was a surge in interest in the trade as a tool of foreign policy, and several economic sanctions were imposed. The Comprehensive Anti-Apartheid Act of 1986 was only in effect for five years. Later, penalties were imposed against countries designated by the US government as "State Sponsors of Terrorism."

 

Numerous pundits have condemned the United States unilateral sanctions against various countries across the world. The United States has imposed economic sanctions on more than 20 countries since 1998. According to Daniel T. Griswold, these sanctions have failed to affect the conduct of sanctioned countries, but they have excluded American corporations from economic possibilities and damaged the poorest people in the sanctioned countries.

 

According to Rawi Abdelal, secondary sanctions frequently divide the United States and Europe since they represent the US meddling in the affairs and interests of the European Union. According to Abdelal, sanctions have been viewed not only as an expression of Washington's preferences and whims but also as an instrument for US economic warfare, which has enraged past allies such as the European Union.

 

Countries that sanctioned by the USA 

 

Cuba

One of the United States' longest-standing and most well-known sanctions is on one of its southern neighbors, Cuba. In February 1959, Fidel Castro became Prime Minister of Cuba, deposing a post-revolutionary Cuban administration supported by the US.

Interestingly, the former Batista administration was overthrown in part due to a weapons embargo imposed by the United States.

 

Iran

Following the 1979 Iranian Revolution, the Western-friendly Shah of Iran was ousted and replaced with a theocratic administration. The Iranian hostage crisis and subsequent events prompted the United States to impose a trade embargo on the Middle Eastern country.

With increasingly tense political relations, terrorism sponsorship, and arguments over uranium enrichment, sanctions remain in place; Iranian economic sanctions remain a hotly debated topic.

 

North Korea

North Korea is perhaps the country that has suffered the most as a result of US economic sanctions. North Korea's conflicts with the United States began in the 1950s, with the United States' entrance into the Korean War, which was intended to offset the Soviet Union's support for a unified, communist Korea. 

North and South Korea are still nominally at war, albeit with a ceasefire in place since 1953, and the United States imposes tight trade restrictions on the country.

 

With tensions easing, South Korean President Moon Jae-in and North Korean Leader Kim Jong-un signed the Panmunjom Declaration in 2018, pledging better cooperation between the two countries.

Beginning with President George W. Bush, the United States implemented restrictions on North Korea, including trade and financial embargoes. The nation was also sanctioned by the United Nations.

 

Syria

Syria, one of the countries listed by former U.N. Ambassador John Bolton as being "beyond the axis of evil," has had tense relations with the US due to its role as a terrorist sponsor.

As a result, the United States imposes severe trade restrictions on the country, prohibiting significant exports and financial services for individuals or groups associated with terrorism. The measures of standard of living versus quality of life may appear to be identical, but the truth is a qualitative versus quantitative issue.

 

Venezuela

 

Belarus

 

Bangladesh and other countries involved

 

 

Psychology of US Sanctions

 

Two-thirds of the 104 sanctions imposed worldwide between 1945 and 1990 were imposed unilaterally by the United States without the participation of other countries. Since 1990, the sanctions have been dramatically strengthened, and the United States has placed economic sanctions on more than 20 countries since 1998. While it is incorrect to regard the Security Council as just a vehicle of US hegemony, the United States has spearheaded many of the Security Council's recent efforts to impose sanctions, according to Joy Gordon. Gordon continues to write that the United States wields disproportionate influence as a result of its veto authority and global economic dominance and that this influence has grown in recent years as Russia's willingness to exercise its veto has waned as a result of its reliance on the West.

 

Sanctions, according to Daniel T. Griswold, have failed to affect the conduct of sanctioned countries, but have excluded American corporations from economic possibilities and impacted the poorest people in sanctioned countries. According to Rawi Abdelal, secondary sanctions frequently divide the United States and Europe since they reflect US meddling in the affairs and interests of the European Union. According to Abdelal, sanctions have been viewed not only as an expression of Washington's preferences and whims but also as an instrument for US economic warfare, which has enraged past allies such as the European Union.

 

 

Economic engagement as a substitute for sanctions

 

Griswold cites China as an example of how economic contact can aid a country's gradual but steady transformation for the better. Over the last two decades, China has surpassed the United States as the fourth largest trading partner and the world's second-largest recipient of foreign direct investment. Domestic market reform and more openness in China have resulted in rapid growth, higher living standards, and greater independence for residents. The share of government-controlled industry has declined from about 100% two decades ago to less than 50% today.

 

Private ownership of homes and companies is rapidly increasing. Continued economic involvement has also helped open the door to China for a rising number of organizations dedicated to religious and political freedom. More than a decade after the Tiananmen Square uprising, the communist government has begun releasing political prisoners and allowing little internal dissent. Chinese economic liberalization, like that of Taiwan and South Korea, sets the groundwork for a more independent civil society.

Is this article helpful?

2425 of 6666 people said that this answered their question.

Ready to start investing?

Start Investing