Economic sanctions are seen as a weapon capable of having a devastating impact on a country. A sanction is a fine imposed by one country on another in order to prevent its aggressive actions or violation of international law. Sanctions are often aimed at damaging the country's economy and the finances of individual citizens. The article examines the role and significance of world economic sanctions, their impact on the world economic order, on the example of the leading countries of the world - (USA, UK, EU, Japan, Australia), analyzes the impact of sanctions on economic growth. Important conclusions and recommendations, economic consequences of sanctions and much more are presented.
References:
1.https://www.worldbank.org, Report - 2021, Last checked 14 March, 2022;
2.https://www.ebrd.com, Report - 2021, Last checked 14 March, 2022;
3.https://www.wto.org, Report - 2021, Last checked 14 March, 2022;
4.https://www.europarl.europa.eu, Report - 2021, Last checked 14 March, 2022;
5.https://eeas.europa.eu, Report - 2021, Last checked 14 March, 2022;
6. https://www.nytimes.com, Articles and Report, 2021, Last checked 14 March, 2022.
