Oil embargo
An oil embargo is an economical sanction which limits the transport of petroleum to or from an area, in order to exact some desired outcome. One commentator states, "[a]n oil embargo is not a common commercial practice; it is a tool of political blackmail, meant to force those at whom it is aimed, into some action they would otherwise not be willing to take".[1]
Notable examples of international oil embargoes include:
- Oil embargo (Sino-Japanese War), 1941–1945
- 1967 Oil Embargo
- 1973 oil crisis
- 1979 energy crisis
- Embargo against Iran, 2012–2016
References
[edit]- ^ B. A. Bayraktar, Energy Policy Planning (2012), p. 340.
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