This was the strategy that was meant to bankrupt the British Empire by preventing it from accessing trade
The strategy you are referring to is commonly known as the Continental System. It was implemented by French Emperor Napoleon Bonaparte during the Napoleonic Wars in the early 19th century (1806-1814) with the aim of economically isolating the British Empire.
The Continental System was based on the idea of closing European ports under French control to British trade. Napoleon believed that by preventing British goods from entering European markets, he could weaken the British economy and bankrupt the empire. The system required European countries to stop trading with Britain and to confiscate British goods within their territories.
This strategy was primarily a response to British naval dominance, which allowed the British Empire to control and dominate international trade routes. Napoleon, unable to challenge the British Navy directly, sought to use economic warfare to undermine British power.
However, the Continental System faced numerous challenges and ultimately failed to achieve its objective. Several European countries, despite being under French control, had strong economic ties with Britain and relied on British trade for their economic stability. These countries, such as Portugal and Spain, continued to trade with Britain clandestinely, often through smuggling.
Additionally, the system had unintended consequences. The British responded with their own countermeasures, such as establishing trade agreements with non-French-controlled territories and implementing protectionist policies to bolster their domestic industries. The British also used their naval dominance to blockade European ports, disrupting trade between European countries and further damaging their economies.
Furthermore, the Continental System ended up damaging the French economy as well. European countries faced scarcity of goods, leading to an increase in smuggling and black market activities. The economic strain caused discontent among Napoleon's allies, undermining his control over Europe.
Ultimately, the Continental System did not achieve its intended goal of bankrupting the British Empire and instead contributed to France's economic decline. It also sparked conflicts and resistance within European countries, eventually leading to the downfall of Napoleon and the restoration of trade between Britain and Europe.