In this study, we will show the effects of economic sanctions through the lens of their implementation on international trade. To do this, we draw on well-established theoretical work in international political economy. As we continue our investigation, we are examining any potential differential effects caused by the use of different tools. To do this, we will use the latest recent data published by banks and international organizations that will demonstrate the effect of sanctions on the world's economies. The findings will demonstrate that the effects of threatened sanctions are qualitatively and quantitatively different. Trade flow between the sender and the target decreases when sanctions are actually applied, but increases when penalties are threatened. In addition, we find different effects for different sanctions instruments. Moreover, we find that different sanctioning tools have different consequences.