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'Don't believe American propaganda' says Trevor Ncube

by Mandla Ndlovu
10 Apr 2019 at 21:25hrs | Views
Alpha Media Holdings Boss Trevor Ncube has urged Zimbabweans to shun the propaganda by the United States Embassy that Zimbabwe is under sanctions but only a few people are being targeted.

Ncube was speaking after the United States of America announced that it has fined Standard Chartered Bank  US$18m for handling Zimbabwe transactions, in violation of American sanctions on the country.

"Dear Zimbabwe US sanctions against Zimbabwe are not targeted. They affect all of us. Don't listen to the United States Embassy propaganda," Ncube said.

Ncube has been a proponent of the removal of sanctions which were imposed by the West on Zimbabwe in the turn of the millennium.

In a statement of Wednesday the Unites States of America said:

The bank has agreed to settle its potential civil liability for apparent violations of the Zimbabwe Sanctions Regulations (ZSR). The bank has agreed to remit $18,016,283.

All of the transactions giving rise to the Zimbabwe-Related Apparent Violations involved persons identified on OFAC's List of Specially Designated Nationals and Blocked Persons (the "SDN List") or parties that were owned 50 percent or more, directly or indirectly, by persons on the SDN List at the time the transactions occurred.

The designated and/or blocked persons maintained account relationships with SCB's affiliate in Zimbabwe ("SCBZ"), and engaged in funds transfer or debit/credit card transactions whose net settlement transfers were sent to, and processed by SCB NY or other U.S. financial institutions. SCB NY processed 1,795 transactions totaling $76,795,414, for or on behalf, or that otherwise contained a property interest, of those sanctioned entities.



Source - Byo24News

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