News / National
Zimbabwe hits back at America over sanctions
08 Mar 2019 at 16:27hrs | Views
The government of Zimbabwe has hit back at the United States of America over sanctions which the US Embassy in Harare insists are targeted at certain individuals and not to the people of Zimbabwe.
On Wednesday the Embassy issued a statement saying, "U.S. targeted sanctions on individuals and entities do not prohibit trade or business between the 2 countries. The Embassy encourages and facilitates trade and investment between the U.S. and Zimbabwe. $1 billion of goods traded over the past decade."
However the Ministry of Information hit back seeking to set the record straight by issuing the following statement:
Through ZIDERA, the US has directed its Executive Directors to each international financial institution (IFIs) to oppose and vote against -any extension of any loan, credit, or guarantee to Zimbabwe; or -any cancellation of debt owed by Zimbabwe to the US or any IFIs
US sanctions are targeted at Zimbabwe and all its citizens. The sanctions are so comprehensive that any lines of credit to the country are blocked by OFAC. Citizens who are not on the sanctions list cannot access US-linked financial services such as PayPal
To show that the US sanctions are indiscriminate, South African Banks have blocked Zimbabwean banks from importing US dollars for fear of reprisals from US authorities. Also, CBZ Bank, which is not on the sanctions list, was fined a staggering US$385 million by OFAC
On Wednesday the Embassy issued a statement saying, "U.S. targeted sanctions on individuals and entities do not prohibit trade or business between the 2 countries. The Embassy encourages and facilitates trade and investment between the U.S. and Zimbabwe. $1 billion of goods traded over the past decade."
However the Ministry of Information hit back seeking to set the record straight by issuing the following statement:
Through ZIDERA, the US has directed its Executive Directors to each international financial institution (IFIs) to oppose and vote against -any extension of any loan, credit, or guarantee to Zimbabwe; or -any cancellation of debt owed by Zimbabwe to the US or any IFIs
US sanctions are targeted at Zimbabwe and all its citizens. The sanctions are so comprehensive that any lines of credit to the country are blocked by OFAC. Citizens who are not on the sanctions list cannot access US-linked financial services such as PayPal
To show that the US sanctions are indiscriminate, South African Banks have blocked Zimbabwean banks from importing US dollars for fear of reprisals from US authorities. Also, CBZ Bank, which is not on the sanctions list, was fined a staggering US$385 million by OFAC
Source - Byo24News
