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embargo definition - finance
  1. The prohibition by a government or organization that prevents goods from being shipped into or out of a country. One of the most memorable embargoes was the oil embargo imposed by the Organization of Petroleum Exporting Countries (OPEC) in the early 1970s to protest U.S. policies toward Israel. It had the effect of drastically raising oil prices and led to long lines for motorists at gas pumps.
  2. The act of passing along economic reports or news releases to the press but requiring that the information not be disseminated until some future time or date. Embargos give reporters a chance to prepare their stories without rushing and potentially making a mistake. U.S. economic statistics, such as the unemployment report, are released 30 minutes ahead of the time that they become public information. During that time reporters prepare their stories so they are completely available at the release time.

Webster's New World Finance and Investment Dictionary Copyright © 2003 by Wiley Publishing, Inc., Indianapolis, Indiana.
Used by arrangement with John Wiley & Sons, Inc.

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