The story
In reference to the draconian peace terms imposed on the Carthaginian Empire by the Roman Republic following the Punic Wars. At the end of the Third Punic War, Rome destroyed Carthage.
Etymology from Wiktionary, CC BY-SA 4.0.
Carthaginian peace
Today it means: Peace maintained with devastating consequences for one of the parties involved; a very harsh peace, particularly one that results in the defeated side being destroyed or nearly so. Full definition →