US removes sanctions from Zimbabwe's Agribank and IDBZ

Two banks with links to the Zimbabwe government - Agribank and the Infrastructure Development Bank of Zimbabwe (IDBZ) - were this week removed from the US sanctions list. 

The two banks were put under US sanctions in July 2008. and, in April 2013, the sanctions were partially lifted. In February 2016, the banks were removed from the sanctions list, but the licence requirements remained until they were totally removed this week.

The Zimbabwe sanctions programme implemented by The US Department of the Treasury's Office of Foreign Assets Control (OFAC) began in 2001, when the US government imposed restrictions against specifically identified individuals and entities in Zimbabwe, as a result of the actions and policies of certain members of the government of Zimbabwe undermining democratic institutions or processes.

In March this year, OFAC removed sanctions against former Zanu PF politician, Ray Kaukonde, the late Masvingo provincial minister Shuvai Ben Mahofa, late Matabeleland North provincial minister Sithokozile Mathuthu, and late Senate president Naison Ndlovu.

However, in the same month, OFAC placed under sanctions Anselem Sanyatwe and Owen Ncube for their alleged involvement in human rights abuses including directing an attack on peaceful demonstrators and political opponents in Zimbabwe during the January 2019 mass demonstrations against fuel hikes.