Do sanctions really work?

International sanctions have been used with increasing frequency since the end of the Cold War against so-called rogue states or individuals. But how useful are they?

Acting under Article 41 of Chapter VII of the United Nations Charter, the Security Council has the right to impose sanctions on a state or entity in order to retain or restore international peace and security. Other states impose sanctions against other nations unilaterally. But how smart are sanctions? Do they work and in what circumstances? Or do they have the opposite effect, harming innocent people?