ECONOMIC SANCTIONS IN INTERNATIONALLAW

Jana Ilieva (), Aleksandar Dashtevski and Filip Kokotovic
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Jana Ilieva: University of Tourism and Management in Skopje
Aleksandar Dashtevski: University of Tourism and Management in Skopje
Filip Kokotovic: South East European University in Skopje, Macedonia

UTMS Journal of Economics, 2018, vol. 9, issue 2, 201-211

Abstract: Economic sanctions are a very important topic in the present international relations but also very common headlines in the daily news. At the present time, they become an increasingly prevalent measure for disciplining states’ unacceptable behaviour by a ban on trade and disruption of financial relations for political purposes. Economic sanctions can be imposed by an international organization, being there multilateral (UN) or regional (such as EU) but also can appear in form of unilateral (autonomous) act of a state. The latter is broadly criticized as being contrary to international law hence these unilateral sanctions face lack of support by the international lawyers. On the other hand, there exists no universally accepted mechanism (authoritative international body) in international law to determine if one economic sanction is lawful or not thus this issue remains one of the least developed area therein. Economic sanctions ‘effectiveness is another opened question that requires prompt reaction. Therefore, the existing relationship between economic sanction and international law is controversial and opens perspectives for different approaches and tensions in the international arena.

Keywords: economic sanctions; states; international law; UN; EU; Russia (search for similar items in EconPapers)
JEL-codes: F51 K33 (search for similar items in EconPapers)
Date: 2018
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