Economic Statecraft in International Politics

– Some Practical Considerations for Assessing Economic Sanctions

Abstract

Economic sanctions constitute a major area of interaction between states, alongside diplomacy and military operations. The aim of the following paper is to present the main analytical perspectives and mechanisms of action in this field. Drawing on international literature and cases studies, it discusses the different types of economic warfare, interprets asymmetry and interdependence in these segments, and presents the links between internal decision-making and sanctioning outcomes, the key features of the major powers’ sanctions policies and, finally, the criteria for measuring the success or failure of an institution.