Financial Sanctions List in Zimbabwe Expanded by US Treasury Department
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The US Department of the Treasury’s Office of Foreign Assets Control (OFAC) has taken a significant step to promote positive change in Zimbabwe by expanding its Specially Designated Nationals and Blocked Persons List (SDN List). The list now includes four Zimbabwean individuals and two entities, while removing 17 others.
Targeting Human Rights Abusers and Underminers of Democracy
The sanctions are aimed at targeting human rights abusers and those who undermine democratic processes or facilitate corruption in Zimbabwe. This move is not intended to target the country’s people, banking sector, or economy as a whole.
“We urge the Zimbabwean government to take meaningful steps towards creating a peaceful, prosperous, and politically vibrant nation,” said Under Secretary of the Treasury Brian E. Nelson. “The goal of sanctions is behavior change, and today’s actions demonstrate our support for a transparent and prosperous Zimbabwe.”
Designated Individuals and Entities
Four individuals were designated due to their ties to the previously sanctioned individual Kudakwashe Tagwirei and his company Sakunda Holdings:
- Sandra Mpunga
- Nqobile Magwizi
- Obey Chimuka
- Emmerson Mnangagwa Jr.
Tagwirei was designated in 2020 for providing financial support to the Zimbabwean government, while Sakunda was designated as being owned or controlled by him. Since former President Robert Mugabe’s departure in 2017, Tagwirei has used his relationships with high-level officials to grow his business empire and rake in millions of dollars.
Removed from the SDN List
The 17 individuals removed from the SDN List no longer undermine Zimbabwe’s democratic processes and institutions, according to OFAC. Each year, hundreds of individuals and entities are removed from the list as part of a thorough review process.
Consequences of Designations
As a result of today’s designations, all property and interests in property of the designated persons located in the United States or in the possession or control of US persons are blocked. Any transactions by US persons or within the United States that involve any property or interests in property of blocked or designated persons are also prohibited, unless authorized by a general or specific license issued by OFAC.
Promoting Positive Change in Zimbabwe
The move is seen as a significant step towards promoting positive change in Zimbabwe and holding accountable those who undermine democratic processes and institutions.