An embargo is a ban on the import or export of any product, finance or industrial technology. Such a measure can be introduced for political reasons when they try to put pressure on the country's government. This can be done by either a separate state or an international organization, for example, the UN. Often likes to introduce various restrictions against objectionable countries of the United States. An embargo can be economic. The purpose of such a ban is the same, to force the authorities to certain concessions. In the economic sphere, restrictions can be used not only against countries, but also against specific structures, firms, and enterprises. There are also temporary embargoes. This happens when it comes to environmental disasters, epidemics.
The concept of "embargo" appeared in the XVIII century, the word is translated as a restriction. This was the name of the official delay and confiscation by one state of the ships and weapons of another state (not to be confused with piracy). Gradually, the meaning and function of the word began to change, and now the embargo is a concept used in economics, legislation and politics.
Most often, prohibitions and restrictions are imposed for political reasons. Such a peculiar whip against any state. This decision is usually motivated by the best of intentions. Punish for non-compliance with international standards and treaties, prevent the threat of military invasion, and so on. But practice shows that most often this is an attempt to overthrow an unwanted regime and undermine the country's economy.
Any embargo is a double-edged sword. The economy of the “hooligan country” will suffer unambiguously. But the banning country will suffer as well. A historical example. At the beginning of the 20th century, not converging on political issues, Russia imposed a trade embargo on Germany. How it all ended is known to all. A sharp decline in the Russian economy, World War I and the revolution. The consequences of such rash actions we disentangle to this day.
One more example. The United States regularly introduced restrictions and bans against developing countries. First Cuba, then Iraq, followed by Iran. But not only these countries, but also the USSR suffered great economic losses. The Iraqi debt of several billion dollars has still remained outstanding.
Do not confuse the concept of embargo with another legal concept of “arrest”. The first is the introduction of certain measures against the entire state or large structures. The second is a legal procedure. The seizure of property implies that this property or finances cannot be used. It can not be sold, donated, and so on. Only a court can arrest. A court in one country may seize property of a
private person or of a state in order to pay off debts to a citizen of the state where it is located. But in any case, this is a private trial, and these actions have no relation to the international politics of the state.
An embargo is a legislative act that is adopted either by the country's parliament or by the deliberative body of international associations. For example, a reduction in oil purchases from Iran by EU countries since January 1, 2012. So the European Union supported the ban on the purchase of oil, which was imposed by the United States.