Yes, sanctions can be a beneficial foreign policy tool, because it is like an employee going on strike. Withholding something is also a way that a parent can influence a child's behavior. A penalty and reward system is a good way to use some leverage to influence the actions of a country.
Sanctions is a policy tool that is used immensely by the United States government. The United States is always having embargo in regards to trade if a country disagrees with a trading option. Economic sanctions is what the United States uses as a policy tool that has been very effective.