Trade sanctions have limited utility and usually only short-term effect unless very broad and adhered to; financial restrictions tend to be more effective than trade sanctions, as illustrated by South African businessmen who suddenly couldn't get loans in London and faced a deteriorating currency.

causalpending

Speaker

George Shultz

Evidence Quote

the greatest impact actually comes were from financial restrictions rather than trade sanctions

Source

George Shultz on Economics, Human Rights and the Fall of the Soviet Union 9/3/2007EconTalk
Created: 6/15/2026, 9:20:22 AM

My Notes

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