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U.S. removes four Zimbabwe firms from sanction list

Xinhua, October 8, 2016 Adjust font size:

The United States has removed four Zimbabwean firms, including a state-owned bank, from its sanction list, according to a U.S. Treasury announcement Thursday.

The four firms are state-owned ZB Financial Holdings, the Industrial Development Corporation (IDC) and the country's two major fertilizer manufacturing firms Chemplex and Zimbabwe Fertilizer Company (ZFC).

IDC is a government national development finance institution, which wholly owns Chemplex and has a majority stake in ZFC.

This follows U.S. removal in January of two other Zimbabwean banks -- the Agricultural Bank of Zimbabwe and the Infrastructure Development Bank of Zimbabwe -- from its sanction list.

The U.S. and the European Union imposed sanctions on Zimbabwe in the early 2000s following a fallout with Harare over alleged human rights abuses.

However, the EU in recent years gradually removed the sanctions, while more than 60 entities related to Zimbabwe still remain on the U.S. sanctions list. Enditem