embargo

(noun)

A ban on trade with another country.

Related Terms

Examples of embargo in the following topics:

  • Years of Change: The 1960s and 1970s

    • The 1973-1974 oil embargo by members of the Organization of Petroleum Exporting Countries (OPEC) pushed energy prices rapidly higher and created shortages.
    • Even after the embargo ended, energy prices stayed high, adding to inflation and eventually causing rising rates of unemployment.

  • Other Barriers

    • Embargoes are prohibitions on trade ban imports or exports, and may apply to certain categories of products, or strictly to goods supplied by certain countries .

  • Impacts of Policies and Events on Equilibrium

    • When the U.S. chose to support Israel during the Yom Kippur War, the Organization of Arab Petroleum Exporting Countries (OAPEC) responded with an oil embargo, which increased the market price of a barrel of oil by 400%.