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(NEWZIMBABWE) EU lifts sanctions on Zisco, Dabengwa

EU lifts sanctions on Zisco, Dabengwa
by
17/02/2010 00:00:00

THE European Union has lifted sanctions on nine Zimbabwean companies and six individuals, including ZAPU leader Dumiso Dabengwa.

The EU announced this week it was extending by a year what officials say are “targeted sanctions” on Zimbabwe, including an arms embargo, assets freeze and travel ban on 197 individuals connected to President Robert Mugabe and 31 companies.

But following lobbying by Zimbabwe’s power sharing government which has been in place for a year, eight state-owned companies blacklisted since 2002 were given a reprieve.

The Industrial Development Corporation of Zimbabwe, Intermarket Holdings Ltd, Oryx Diamonds Ltd (a.k.a. Oryx Natural Resources), Scotfin Ltd, ZB Financial Holdings Ltd (a.k.a. Finhold), ZB Holdings Ltd, the Zimbabwe Iron and Steel Company (a.k.a. Zisco, Ziscosteel), Zimre Holdings Ltd and Zimre Reinsurance Company (PVT) Ltd are now free to trade and conduct business on the European market.

Four dead individuals were also taken off the sanctions list – Richard Hove, former Vice President Joseph Msika, Rtd General Vitalis Zvinavashe and ex-police chief Thomsen Jangara.

Dabengwa, who quit Mugabe’s Zanu PF party to revive ZAPU, has also been taken off the blacklist along with Arab businessman Thamer Bin Al Shanfari, the former chairman of the now defunct Oryx Natural Resources Limited.

British Foreign Secretary David Miliband said: “The EU’s decision to lift a number of its sanctions against Zimbabwe reflects our judgement that the Inclusive Government has made progress on economic reform.

“But we are disappointed that many of the political reforms needed have not taken place and that human rights abuses continue. As a result the EU has left the bulk of its measures in place. The EU urges the full and effective implementation of the Global Political Agreement.”

President Mugabe’s supporters dispute that the sanctions are “targeted” at only him and his senior officials, and blame the restrictions for fuelling the country’s economic collapse over the last eight years.

Labels: DUMISO DABENGWA, EU, SANCTIONS, ZISCO

posted by MrK @ 3:47 PM