An oil embargo is an economic situation wherein entities engage in an embargo to limit the transport of petroleum to or from an area, in order to exact some desired outcome. One commentator states, "[a]n oil embargo is not a common commercial practice; it is a tool of political blackmail, meant to force those at whom it is aimed, into some action they would otherwise not be willing to take".[1]
Notable examples of international oil embargoes include:
Oil embargo (Sino-Japanese War), 1941–1945
1967 Oil Embargo
1973 oil crisis
1979 energy crisis
Embargo against Iran, 2012–2016
^B. A. Bayraktar, Energy Policy Planning (2012), p. 340.
Exporting Countries (OAPEC) announced that it was implementing a total oilembargo against the countries who had supported Israel at any point during the...
An oilembargo is an economic situation wherein entities engage in an embargo to limit the transport of petroleum to or from an area, in order to exact...
The 1967 OilEmbargo began on June 6, 1967, the second day of the Six-Day War, with a joint Arab decision to deter any countries from supporting Israel...
the United Nations General Assembly adopted a voluntary international oilembargo. When anti-apartheid activists in the US found that Washington was unwilling...
and an oilembargo against the United States and other industrialized nations that supported Israel in the Yom Kippur War. A previous embargo attempt...
regime, the U.S. placed an embargo on exports to Cuba except for food and medicine after Cuba nationalized the US-owned Cuban oil refineries without compensation...
of October 1973. The embargo caused an oil crisis. This was followed by the 1979 oil crisis, which was caused by a drop in oil production in the wake...
Assembly adopted a voluntary international oil-embargo against South Africa on November 20, 1987; that embargo had the support of 130 countries. South Africa...
With the US actions seen as initiating the oil embargo, the long-term possibility of embargo-related high oil prices, disrupted supply and recession, created...
importing reduced amounts of oil from Iran until 2019. On 21 February 2020, Iran was placed on the FATF blacklist. The UN arms embargo on Iran expired on 18...
and 1973, OPEC oil is generally quoted in US dollars, sometimes referred to as petrodollars. In October 1973, OPEC declared an oilembargo in response to...
of oil from politics in the wake of the halfhearted 1967 oilembargo in response to the Six-Day War. Such use of the economic weapon of oilembargo in...
Arab-Israeli War, Saudi Arabia, Libya, and other Arab states proclaimed an embargo on oil exports to countries that supported Israel, primarily the United States...
the oil crisis was "the moral equivalent of war". In November 1979, Iranian revolutionaries seized the American Embassy, and Carter imposed an embargo on...
and to place an embargo on countries friendly to Israel (the United States and the Netherlands). This event became known as the 1973 oil crisis. Following...
the Anglo-Iranian Oil Company (now BP), and Iranian oil was subjected to an international embargo. In an effort to bring Iranian oil production back to...
support that Israel received from the West, he led the oilembargo which caused the 1973 oil crisis. Faisal successfully stabilized the Kingdom's bureaucracy...
United States. Oil sands productions expand and prosper as the global price of oil increased to peak highs because of the Arab oilembargo of 1973, the...
entire war period, Israel suffered no oil shortages, and even sold oil to third parties affected by the Arab oilembargo. This claim was disputed by Edgar...
then became oil minister in 1962. He is known for his role during the 1973 oilembargo, when he spurred OPEC to quadruple the price of crude oil. In December...
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by Faisal of Saudi Arabia, proclaimed the implementation of a total oilembargo against the United States and other countries that had provided any form...
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