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Office of Foreign Assets Control (OFAC) in Zimbabwe

Termination of Emergency Measures

In a significant development, the Office of Foreign Assets Control (OFAC), a US government agency responsible for enforcing economic sanctions, has terminated its emergency with respect to the situation in Zimbabwe. This comes after nearly two decades of restrictive measures aimed at undermining democratic processes and institutions in the African country.

Background Information

According to OFAC’s Executive Order 14118, dated March 4, 2024, the termination of the emergency is a significant step towards normalizing relations between the US and Zimbabwe. The order follows years of sanctions imposed on individuals and entities deemed to be undermining democratic processes and institutions in Zimbabwe.

Compliance Resources

OFAC has compiled an array of resources to facilitate compliance with its regulations, including:

  • Frequently Asked Questions (FAQs)
  • Interpretive Guidance
  • Licenses for specific activities

These resources provide valuable insights into the complexities of OFAC’s sanctions programs and policies. For instance, the agency has issued guidance on:

  • The provision of certain services relating to US sanctions laws
  • Licensing policy statements on entities owned by blocked persons

Additionally, OFAC has provided clarification on legal fees and costs incurred in challenging the blocking of US persons in administrative or civil proceedings.

The Zimbabwe Sanctions program is built upon multiple legal authorities, including:

  • Executive orders issued by the President
  • Public laws passed by Congress

These authorities are codified in OFAC’s regulations, which are published in the Code of Federal Regulations (CFR) and modified through postings in the Federal Register.

Brochures and FAQs

OFAC has also provided a range of brochures offering an overview of its regulations with regard to Zimbabwe sanctions. The agency’s FAQs provide comprehensive answers to questions on its sanctions programs and related policies.

Conclusion

The termination of the emergency with respect to Zimbabwe marks a significant shift in US-Zimbabwe relations, paving the way for increased cooperation and trade between the two countries.