M.A., M.Sc., Mendel University in Brno, Zemědělská 1, 613 00 Brno,Czech Republic
The research examines the relationship between economic sanctions, geopolitical objectives, and economic crises, using a mixed-methods of comparative and descriptive approach to analyse US unilateral sanctions and EC/EU autonomous sanctions imposed before, after, and during crisis periods. The study examines the impact of US sanctions during different time periods, including before and after the oil crisis (1950–1969, 1970–1979) and during the oil crisis (1980–2000). It also analyses the effects of EC/EU autonomous sanctions before the Eurozone crisis (1980–2008) and during the Eurozone crisis (2009–2019). The findings indicate a shift towards a proactive and confident approach to sanctions during times of crisis. Imposed sanctions typically result in favourable economic outcomes for the sender, acting as proactive measures for sender countries to promote their political, economic, and security interests. The study reveals intricate patterns in target selection, highlighting the importance of economic factors, geopolitical dynamics, and regional proximity as key factors influencing the imposition of sanctions. Therefore, economic sanctions are seen as a strategic tool that serves political objectives and also strengthens the economic security of the sender states. Acknowledging certain limitations, such as not addressing recent pandemic-related challenges and relying on comparative and descriptive analyses, this research makes a valuable contribution by offering crucial insights into the design of effective sanctions and the significance of economic and geopolitical factors in understanding economic statecraft, international political economy, and crisis management strategies. These insights can be beneficial for policymakers, scholars, and practitioners.