In a letter dated January 10, 2020, seen by Business Times signed by OFAC Chief Licensing Division’s Aydin Akgün, OFAC declined Fuest application for the release of the funds to MMCZ. “As reflected by your application or by information otherwise available to OFAC, involves an interest of a sanctions target described in the Zimbabwe Sanctions Regulations, 31 C.
Part 541; specifically, Minerals Marketing Corporation of Zimbabwe.
It is OFAC’s policy to license the release of blocked property only in limited circumstances, most of which do not involve commercial activity.
Upon review, OFAC has determined that this blocked funds transfer does not fall within those limited circumstances.
Accordingly, licensing the release of the blocked funds would be inconsistent with OFAC policy, and your request is denied,” read part of the letter.
Tapfuma said the company has written to the US Senate and US State Department for the release of the funds. “Actually, what we did when we wrote to OFAC we copied our correspondence with the US Ambassador to Zimbabwe (Brian Nichols), US Senate Foreign Relations Committee Chairperson Senator Jim Risch and Assistant Secretary, Bureau of African Affairs, Ambassador Tibor Nagy, arguing that the sanctions you insist don`t affect the general populace in Zimbabwe are actually hurting everyone because you blocked funds belonging to general citizens. ”
In other letters seen by Business Times, Fuest also wrote to US President Donald Trump and the European Ambassador to Zimbabwe Timo Olkkonen.
Tapfuma said the company was on the verge of sinking from the costs accumulated in the bid to recover the blocked funds. 🔗 Read Full Article
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