Glossary term
Embargo
A prohibition on trade with a country, entity or in particular goods.
A ban on trade, imposed by a government or under international authority. It may cover a whole country, particular goods, or named entities and individuals.
Embargoes and sanctions bind regardless of contract, and breaching them carries penalties that fall on the trader rather than the government that imposed them. They also change quickly, so screening is a repeated obligation rather than a one-time check.