In geoeconomics, how can economic sanctions be strategically employed?

In geoeconomics, economic sanctions are strategically employed as tools of statecraft to achieve foreign policy objectives by exerting economic pressure on a target country or entity. Economic sanctions involve restricting or prohibiting certain economic activities with the target, aiming to compel a change in behavior. Sanctions can be deployed in several strategic ways. First, they can be used to deter specific actions, such as nuclear proliferation, human rights abuses, or support for terrorism. By imposing economic costs on these activities, the sanctioning state hopes to dissuade the target from engaging in them. For instance, sanctions may be imposed on a country developing nuclear weapons to halt its program. Second, sanctions can be used to coerce a change in policy. This involves using economic pressure to force a target state to alter its behavior or comply with international norms. For example, sanctions might be implemented to pressure a state to cease its support for rebel groups in another country. Third, sanctions can be used to constrain a target's capabilities. By restricting access to key technologies, resources, or financial markets, sanctions can limit a state's ability to pursue certain policies or develop specific capabilities. For instance, sanctions may target a country's ability to import advanced military technology. Fourth, sanctions can be used to signal resolve. Imposing sanctions can demonstrate a state's commitment to a particular principle or policy, even if the immediate economic impact is limited. This can strengthen the credibility of future threats or actions. For example, imposing limited sanctions in response to a minor violation of international law can signal that more severe measures will follow if the behavior continues. The strategic employment of economic sanctions also involves careful consideration of several factors, including the target's economic vulnerabilities, the potential impact on the sanctioning state and its allies, and the availability of alternative sources of supply or support for the target. The effectiveness of sanctions also depends on the extent to which they are multilateral, meaning supported by a broad coalition of states. Multilateral sanctions are generally more effective than unilateral sanctions because they limit the target's ability to circumvent the restrictions. It is also important to note that sanctions can have unintended consequences, such as harming civilian populations, destabilizing the target state, or prompting retaliatory measures. Therefore, the strategic employment of sanctions requires careful planning, implementation, and monitoring to maximize their effectiveness and minimize their negative effects. An example is the use of sanctions against Iran, where different phases and intensities have been strategically employed to address concerns about its nuclear program and regional behavior.