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US sanctions on Zimbabwe illegal, Will curtail multinational payment support: Ruling Party

US sanctions on Zimbabwe illegal, Will curtail multinational payment support: Ruling Party

India Blooms News Service | @indiablooms | 08 Mar 2019, 05:57 pm

Moscow, Mar 8 (Sputnik/UNI) Sanctions renewed by the United States on Zimbabwe are illegal, and will prevent Zimbabwe from receiving financial support from multinational financial institutions, Dickson Dzora, the director for administration at ruling Zimbabwean ZANU PF party told Sputnik on Friday.

US President Donald Trump announced on Monday the extension of US sanctions on Zimbabwe by a year. The sanctions will affect 141 entities and individuals in Zimbabwe, including Zimbabwean President Emmerson Mnangagwa and the ZANU PF party.

"Those are illegal sanctions. They are not United Nations sanctions. A country is choosing to impose sanctions on another independent country which is what we don’t understand, because now they are just using their power, their muscle, in those multinational financial institutions to block any support," Dzora said.
Dzora added that Zimbabwe would struggle to receive loans from organizations such as the World Bank and the International Monetary Fund (IMF) due to a lack of US support.

"[Sanctions] will affect Zimbabwe because America is the major contributor to the World Bank, the IMF, so they have management control of those institutions. Wherever there is voting on loans or grants for Zimbabwe, Americans will veto that. There is no country which can survive without balance of payments support," Dzora said.

US Sanctions on Zimbabwe were first initiated on March 7, 2003, imposed on individuals and entities, which the US Department of the Treasury believed to be undermining democratic institutions or processes, committing human rights abuses related to political repression, or engaged in public corruption in Zimbabwe.

US sanctions on Zimbabwe illegal, Will curtail multinational payment support: Ruling Party

India Blooms News Service
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