"Economic sanctions are punitive actions taken by governments against another government for violating human rights issues, building weapons of mass destruction, or violating international law. Sanctions are normally imposed to punish a country with the objective of forcing the country to change. The problem is – sanctions normally do not work. The most comprehensive study, Economic Sanctions Reconsidered, concluded that sanctions worked only 33 percent of the time between 1960 and 2006. The authors reviewed 200 sanctions and identified the features that improve the effectiveness of sanctions.
In some cases, sanctions hurt the sanctioning country. Newsweek published Do Sanctions Work an article by Mark Malloch Brown and Harry Gibson on December 22, 2014. They estimated that in 1980, the US sanctioned the USSR and prohibited the sale of grains. The USSR promptly purchased its grain from other countries. It is estimated that the sanctions cost the US agricultural industry $2.3 billion, while costing the Soviet Union only $233 million. This illustrates the importance of multilateral sanctions where many nations act together."
https://www.higherrockeducation.org/blog/do-sanctions-work
In some cases, sanctions hurt the sanctioning country. Newsweek published Do Sanctions Work an article by Mark Malloch Brown and Harry Gibson on December 22, 2014. They estimated that in 1980, the US sanctioned the USSR and prohibited the sale of grains. The USSR promptly purchased its grain from other countries. It is estimated that the sanctions cost the US agricultural industry $2.3 billion, while costing the Soviet Union only $233 million. This illustrates the importance of multilateral sanctions where many nations act together."
https://www.higherrockeducation.org/blog/do-sanctions-work