The two banks, Agribank and the Infrastructure Development Bank of Zimbabwe were issued with a general license by the American government which effectively represents a lifting of sanctions on the two entities.
In a statement, the United States said it had made clear its policy of meeting “action for action” in response to progress on the goals Zimbabweans set for themselves in the GPA.
“In consultation with the Department of State, the US Treasury Department’s Office of Foreign Assets Control has issued a general license for two Zimbabwean banks: Agricultural Development Bank of Zimbabwe and Infrastructure Development Bank of Zimbabwe”, the statement from the US government says.
“It permits American individuals and companies to engage in financial transactions with these two banks. Americans have been prohibited from doing this since 2008 when the banks were placed on the Specially Designated Nationals (SDN) sanctions list,” read the statement.
The US said it regularly reviewed all its targeted sanctions programs, including the Zimbabwe program.
“We commend as a positive action the recent peaceful constitutional referendum in Zimbabwe. Our policies reflect a continuing commitment to help the people of Zimbabwe restore the stable, peaceful, democratic country they rightly deserve and seek to support democratic institutions, rule of law, and human rights in Zimbabwe.
“We are prepared to consider further rolling back sanctions in response to positive progress on Zimbabwe’s part in meeting its reform commitments under the GPA and Sadc roadmap,” the US said.
The United States imposed targeted sanctions on Zimbabwe in 2003 but expanded them in 2005 to include family members of the individuals that were on its list.
The sanctions also prohibit international financial institutions from transacting with the government of Zimbabwe.
American sanctions on all entities and individuals effected by the executive order of 25 July 2008 remained in force.
The European Union recently lifted an asset freeze and a visa ban against most Zimbabwean firms and people on its sanctions list but restrictions on President Robert Mugabe and a few other individuals remain in place.
Zimbabwe's state-run mining company, the Zimbabwe Mining Development Corporation, also remains on the EU sanctions list.
At the referendum almost 95 percent of voters came out in favor of a new constitution that paves the way for elections, expected to be held later this year.
The EU imposed the sanctions on Zimbabwe in 2002 in response to human rights abuses and political violence.
Post published in: News
when GUKURAHUNDI killed innocent civilians no sanctions were put, when land was grabbed from the minority white farmers sanctions were put in place. Is it about human rights or is about the white settlers?
If , say, in 1940 land was alloocated gradually to the natives, this land question could have been solved longtime ago?If the British were civilized why is that we were not granted equal rights in 1890?
banks ? more like kids piggy banks ….