Definition
Travel bans were common during the Covid-19 pandemic.
An embargo refers to the prohibition of shipment of goods or services to designated countries. [1]
An embargo is a trade restriction, typically adopted by a government, a group of countries, or an international organization as an economic sanction. Embargoes can bar all trade, or may apply only to some of it—for example, to arms imports. They are designed to punish the targeted country for its actions, and to deny it the means to carry out objectionable policies. [2]
Economic sanctions are penalties levied against a country, its officials, or private citizens to provide disincentives for the targeted policies and actions. They include travel bans, export restrictions, trade embargoes, and asset seizures. [3]
References
- American Marketing Association, AMA Dictionary.
- Investopedia; investopedia.com/terms/e/embargo.asp
- Investopedia; How Economic Sanctions Work, investopedia.com/articles/economics/10/economic-sanctions.asp