What is the difference between a financial embargo and a financial sanction?

What is the difference between a financial embargo and a financial sanction Introduction: The World of Financial Restrictions Hello everyone, and welcome to our video. In today's globalized world, financial restrictions play a crucial role in shaping international relations. They are powerful tools employed by governments and international bodies to influence the behavior of nations or entities. Two such terms that often come up in this context are 'financial embargo' and 'financial sanction.' While they may seem similar at first glance, they have different meanings and implications. So, let's dive in and unravel the intricacies of these terms. Financial Embargo: A Comprehensive Restriction A financial embargo is a broad and comprehensive restriction imposed on a country or entity. It encompasses a range of financial activities, including trade, investments, and transactions. The goal of a financial embargo is to isolate the target from the global financial system, cutting off its access to funds and resources. This can have a crippling effect on the economy of the targeted entity, making it difficult for them to engage in international trade or receive financial assistance. Notable examples of financial embargoes include the one imposed on Iraq in the 1990s and the ongoing embargo on North Korea. Financial Sanction: A Targeted Measure