Zimbabwe banks lifted from U.S. sanctions list

The United States has removed two Zimbabwe state-owned banks from the list of Specially Designated Nationals and Blocked Persons, paving way for U.S. companies and individuals to transact with the entities.

Nicole Finnemann, Deputy Public Affairs Officer at the U.S. Embassy in Harare told Xinhua Friday the removal of Agricultural Bank of Zimbabwe and the Infrastructure Development Bank of Zimbabwe from the sanctions list was consistent with the U.S. effort to support inclusive economic development and assist the people of Zimbabwe.

"These banks provide services to underserved, disadvantaged populations in Zimbabwe and serve unique development functions and important economic roles in agricultural and infrastructure finance," Finnemann said.

The U.S. also removed Ndlovu Motorways company and five Zimbabweans, most of them dead, on the sanctions list.

Finnemann said following the removal of the five individuals and three entities, 98 individuals and 66 entities related to Zimbabwe remain on the Specially Designated Nationals list.

The U.S. in 2003 imposed sanctions against individuals and entities linked to President Robert Mugabe and his government on accusations of undermining democratic institutions or processes in Zimbabwe, a charge repeatedly brushed off by the Zimbabwean officials.

The EU had also imposed sanctions on Zimbabwe in 2002 for alleged human right abuses but has lifted the embargo except for Mugabe and his wife who still remain on the sanctions list. A state arms firm also remains on the EU sanctions list. Endit