Economic sanctions are commercial and financial penalties applied by one or more countries against a targeted country, group, or individual.
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Economic sanctions may include various forms of trade barriers, tariffs, and restrictions on financial transactions.
A financial transaction is an agreement, communication, or movement carried out between a buyer and a seller to exchange an asset for payment.
Economic sanctions are not necessarily imposed because of economic circumstances—they may also be imposed for a variety of political, military, and social issues.
Economic sanctions can be used for achieving domestic and international purposes.