KHOJ: Journal of Indian Management Research and Practices

Mayanka Sharma ¹, D. B. Bharati ², Mukhtar Jan Qanoonmal

Affiliations
1 Allana Institute of Management Sciences, Pune, IN
2 Rajgad Institute of Management Research & Development, Pune, IN

Abstract

International sanctions are actions taken by countries against others for political reasons, either unilaterally or multilaterally.' There are several types of sanctions e.g. Diplomatic sanctions - Economic sanctions - Military sanctions - Sport sanctions - Economic sanctions are distinguished from trade sanctions, which are applied for purely economic reasons, and typically take the form of tariffs or similar measures, rather than bans on trade. To sanction means to make a legal agreement. Sanctions can be imposed by the UN Security Council, the European Union (EU) and individual states. To change undesirable behavior (e.g. Syria), to limit opportunities for undesirable behavior (e.g. Iran, extensive restrictions on technology/knowledge in the nuclear sector), to deter other countries from choosing an undesirable course of action etc. are the main reasons why sanctions are imposed. Since 2001 there is an international debate on the uranium enrichment program of Iran and many times different Western countries came together to stop Iran from uranium enrichment and producing nuclear weapons. But on the other hand Iran claims that its uranium enrichment program isfor civilian purposes, including generating electricity and medical purposes. This paper highlights on legal objections against sanctions and its impact.

Keywords

Sanctions, Hard Currency, Embargo, Resistance Economy.

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