The main goal of my bachelor thesis was to analyze application of sanctions and embargos as tools of foreign trade politics in the past & now and their impact on development of the international economic relations. We have devoted ourselves to the theoretical definition of the basic concepts of the given issue in the introductory theoretical part. We have been using the information from domestic and foreign literature that covers given issue. In the practical part, the acquired theoretical knowledge was used to analyze the implementation, course and consequences of sanctions and embargoes in action in selected countries of the world. We have chosen the US embargo imposed on Cuba and the EU's sanctions on Russia. The results of the use of these two tools of international economic relations have been summarized in the final part.