INTERNATIONAL SANCTIONS WITH PARTICULAR REFERENCE TO ECONOMIC SANCTIONS IN THE FACE OF GLOBALIZATION

Republička uprava za geodetske i imovinsko-pravne poslove, Republika Srpska, Bosna i Hercegovina
Bosnia and Herzegovina


Abstract

International sanctions are instruments of a diplomatic or economic nature that seek to change activities or policies such as violations of international law or human rights, or policies that do not respect the rule of law or democratic principles. International sanctions are taken by a state or more against other states for political reasons and violations of international law. These are, as a rule, non-violent actions taken to force states to change certain aspects of foreign or domestic policy that are considered unacceptable and contrary to international law. International sanctions, thanks to economic developments around the world and the interconnectedness of states, have become an extremely effective political tool for dealing with problems in the international community. Economic sanctions consist of imposing penal tariffs on the import of goods, blocking the export of goods to a particular country, or completely interrupting any form of trade, which puts pressure on the economy of that country. They occur in the form of embargoes, boycotts on the importation of goods, suspension or prohibition of lending, etc. The subject of analysis of this paper is to define, genesis, functions, goals of international sanctions with special reference to economic sanctions and their role in the conditions of globalization in the diplomatic activities of states in the contemporary international community. The paper points to the fact that international sanctions in addition to diplomacy represent the most effective alternative to war as a means of resolving international disputes. Special attention is given to economic sanctions and the consequences they cause for the economies of states in the conditions of globalization, pointing to the high sensitivity of the economy of each country to blocking the flow of goods, persons and capital.

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