Short- and Long-Term Effects of Economic Sanctions on Economic Dynamics: The Yugoslav Experience

Daniil A. Sitkevich – Researcher of the Russian Presidential Academy of National Economy and Public Administration, Candidate of Economic Sciences (Moscow, Russia).

Restrictive economic measures that the UN Security Council imposed first on the SFRY and then on the Federal Republic of Yugoslavia on September 25, 1991 that partially remained in effect until September 10, 2001, are one of the few examples of foreign trade restrictions comparable to the collective international sanctions imposed by the United States, EU, Great Britain and several other countries against the Russian Federation in February-March 2022. The Yugoslav experience is also valuable because that country’s economy faced difficulties not only during the introduction and operation of sanctions, but also after they were lifted.

Key words: Yugoslavia, Yugoslav experience, economic sanctions.

JEL-codes: E01, E24, F51.