AMERICAN PROFESSOR SAYS ECONOMIC SANCTIONS ARE NOT EFFECTIVE

“It is not very likely that Turkey and Azerbaijan will reach their political aims by blockading Armenia,” Garry Hafbauer, ex-assistant to deputy minister of U.S. international trade and investment policy, told a press conference today. Senior economist of U.S. International Economy University, Hafbauer believes that economic sanctions have lost their effectiveness twice in the last 20 years as a means to reach political aims.

Asked what is the awareness of such assumption in US as a country that applies economic sanctions, the professor said, “They are starting to accept that fact in U.S. and debates are organized on applications of economic sanctions. If countries were subjected to economic sanctions in the past, now they are mainly applied to individuals and enterprises.”