Business / Companies
US lifts sanctions on two Zimbabwe banks
24 Apr 2013 at 21:31hrs | Views
The United States government has "lifted" sanctions on the Agricultural Development Bank of Zimbabwe and The Infrastructure Development Bank of Zimbabwe (IDBZ), in a clear sign that the Obama Administration is easing its position on Harare.
An announcement Wednesday by the U.S. Treasury, Office of Foreign Assets Control said they had issued a general license authorizing all transactions involving the two banks in Zimbabwe, "provided the transactions do not otherwise involve any person whose property and interests in property are blocked."
Sharon Hudson-Dean, the Counsellor for Public Affairs at the U.S. Embassy in Harare confirmed the Treasury Department had issued licenses for the banks to operate but said a more detailed statement would be issued on Thursday.
The latest easing of restrictions does not at present include Zanu-PF individuals, including President Robert Mugabe, who were slapped with an asset freeze and a travel ban in 2001. Several other firms also remain on the list of targeted sanctions.
The United States recently said it is reviewing its sanctions on Zimbabwe following the holding of a "peaceful and credible constitutional referendum" in March. The European Union suspended an assets freeze and visa ban against most Zimbabwean firms and people after the referendum, but 10 individuals including the President and several service chiefs remain blacklisted by the EU.
An announcement Wednesday by the U.S. Treasury, Office of Foreign Assets Control said they had issued a general license authorizing all transactions involving the two banks in Zimbabwe, "provided the transactions do not otherwise involve any person whose property and interests in property are blocked."
Sharon Hudson-Dean, the Counsellor for Public Affairs at the U.S. Embassy in Harare confirmed the Treasury Department had issued licenses for the banks to operate but said a more detailed statement would be issued on Thursday.
The latest easing of restrictions does not at present include Zanu-PF individuals, including President Robert Mugabe, who were slapped with an asset freeze and a travel ban in 2001. Several other firms also remain on the list of targeted sanctions.
The United States recently said it is reviewing its sanctions on Zimbabwe following the holding of a "peaceful and credible constitutional referendum" in March. The European Union suspended an assets freeze and visa ban against most Zimbabwean firms and people after the referendum, but 10 individuals including the President and several service chiefs remain blacklisted by the EU.
Source - SW Radio
