Import embargo
The restriction may apply to products, origins, counterparties or transactions and can have exceptions, licences and time limits. It differs from a tariff that charges a duty and from a quota that permits limited quantities. The political, security, health or other rationale does not by itself establish the current legal scope. A business evaluates its specific product, source, parties, route and date using the applicable official rules. Historical examples should not be treated as complete present sanctions advice, and a general trade model cannot establish permission for a real shipment.
Worked example
A buyer learns that a restriction covers a particular product and origin. It checks the current scope and any licensing provisions rather than assume paying a higher tariff will make the shipment permissible.
Common mistake
Confusing a prohibition with an import tax or presenting an undated country example as complete current law.
Where it appears in your exams
| Qualification | Exam | Relationship | Period |
|---|---|---|---|
| ACCA | AFM | Supporting | September 2026–June 2027 |