Economic sanctions have been an increasingly conspicuous feature of world politics since the end of World War 1, owing largely to the decreasing legitimacy of the use of force and the world's growing economic interdependence. Nevertheless, there still exists scepticism regarding their efficacy. The study is a pioneering effort and investigates the role of economic sanctions in the international community today and their effectiveness and limitations, analysing more than thirty of the most significant cases since 1918, but focusing primarily on the 1980-81 Iranian hostages' sanctions.