DW News published this video item, entitled “Sanctions: Do they work? Lessons learned from North Korea, Iran, Cuba, Venezuela | Business Beyond” – below is their description.
The international response to Russia’s invasion of Ukraine has focused on sanctions. Aimed at dealing a crushing blow to the country’s economy and its industrial base, they’re the policy tool of choice to punish aggression, especially for the United States. But how effective are they?
In this edition of Business Beyond, we look at countries with a significant history of dealing with sanctions, and how much – or how little – they’ve changed their behaviour as a result of this kind of coercion. What can North Korea, Iran, Cuba, and Venezuela tell us about the global effort to exert economic pressure on Russia?
0:00 Intro
1:16 What are sanctions?
3:16 North Korea: The pariah state
7:12 Venezuela: Sanctions for regime change
8:57 Cuba: Playing the long game
11:42 Iran: An economy isolated
16:28 USA: Sanctioner-in-Chief
17:17 How often have sanctions worked?
18:47 Russia & Ukraine: Cause for hope
20:18 Goodbye
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Cuba, officially the Republic of Cuba is a country comprising the island of Cuba, as well as Isla de la Juventud and several minor archipelagos.
Since 1965, the state has been governed by the Communist Party of Cuba. The country was a point of contention during the Cold War between the Soviet Union and the United States, and a nuclear war nearly broke out during the Cuban Missile Crisis of 1962.
Culturally, Cuba is considered part of Latin America.
Iran, also called Persia, officially the Islamic Republic of Iran, is a country in Western Asia. Its central location in Eurasia and proximity to the Strait of Hormuz give it significant geostrategic importance. Tehran is the capital and largest city.
Iran is home to one of the world’s oldest civilizations, beginning with the formation of the Elamite kingdoms in the fourth millennium BC. The Iranian Revolution established the current Islamic Republic in 1979.
Iran’s political system combines elements of a presidential democracy and an Islamic theocracy. Iran is a founding member of the UN, ECO, OIC, and OPEC. It is a major regional and middle power and has large reserves of fossil fuels — including the world’s largest natural gas supply and the third largest proven oil reserves.
The country’s rich cultural legacy is reflected in part by its 22 UNESCO World Heritage Sites. Historically a multi-ethnic country, Iran remains a pluralistic society comprising numerous ethnic, linguistic, and religious groups, the largest being Persians, Azeris, Kurds, Mazandaranis and Lurs.
Russia, or the Russian Federation, is a transcontinental country located in Eastern Europe and Northern Asia. It extends from the Baltic Sea in the west to the Pacific Ocean in the east, and from the Arctic Ocean in the north to the Black Sea and the Caspian Sea in the south.
Russia spans more than one-eighth of the Earth’s inhabited land area, stretching eleven time zones, and bordering 16 sovereign nations. Moscow is the country’s capital.
The Soviet Union was dissolved in 1991 and since 1993 Russia been governed as a federal semi-presidential republic. Russia is a major great power, with the world’s second-most powerful military, and the fourth-highest military expenditure. As a recognised nuclear-weapon state, the country possesses the world’s largest stockpile of nuclear weapons.
Ukraine is a large country in Eastern Europe known for its Orthodox churches, Black Sea coastline and forested mountains. Its capital, Kiev, features the gold-domed St. Sophia’s Cathedral, with 11th-century mosaics and frescoes. Overlooking the Dnieper River is the Kiev Pechersk Lavra monastery complex, a Christian pilgrimage site housing Scythian tomb relics and catacombs containing mummified Orthodox monks.
The United States is a country also known as the United States of America, USA, US or just America. There are fifty states in the union, which is a federal republic ruled by a representative democracy. Nearly ten million square kilometres are inhabited by over 300 million people. The majority of Americans speak English.
Venezuela is a country on the northern coast of South America with diverse natural attractions. Along its Caribbean coast are tropical resort islands including Isla de Margarita and the Los Roques archipelago. To the northwest are the Andes Mountains and the colonial town of Mérida, a base for visiting Sierra Nevada National Park. Caracas, the capital, is to the north.
