Embargo and currency relations

Theoretically, an embargo in international economic relations is a way of interstate economic competition, the use of which has consequences for national economies. The introduction of an economic embargo is a sign of insufficient effectiveness (or inefficiency) of other methods of economic competition, the lack of necessary (for the initiator of the embargo) competitive advantages. It can be assumed that a special, extreme case is the embargo of currency relations, which in fact is a ban on the use of freely convertible currencies. Accordingly, the object of the study is the influence of the embargo of currency relations on the functioning of the economy. The subject of this study is the theoretical consequences of the currency embargo of international monetary relations. The purpose of the study is to determine a possible variant of the future system of currency relations. What can happen with free currency conversion? It is assumed that the formation of a system of partially convertible national currencies is most likely.