How did the American Civil War affect European economy and diplomacy?

Thesis

Upon viewing the events of the American Civil War, it is speculated that a multitude of countries were affected economically and diplomatically. Because of the Union Blockade in 1861 and the withdrawal of cotton from the United Kingdom, it is initially assumed that a domino effect would occur, resulting in multiple European powers being indirectly affected by the American Civil War. These statements are untrue to an extent. The American Civil War did affect relations between various European powers, but it was not enough to truly motivate or influence any change in economic decisions. From a diplomatic standpoint, The American Civil War minutely improved relations between the United States and various European powers.