U.S. sets more sanctions against Zimbabwe regime
The U.S. Treasury Department has raised the level of economic restrictions against Zimbabwean President Mugabe’s regime by placing sanctions on 26 farms and two businesses in the country.
Treasury officials said the farms are among those handed to favored members of the Mugabe regime during the land distribution scheme. The two businesses designated on Aug. 4 are Cold Comfort Farm Trust Co-Operative and Ndlovu Motorways.
Doing business with these entities may carry criminal penalties of up to $500,000, twice the monetary gain or loss per violation for an organization. Individual criminal penalties may be up to $250,000 or twice the monetary gain or loss per violation. Individuals may also face prison for up to 10 years for a criminal violation. In addition, civil penalties of up to $11,000 per violation may be imposed administratively.
For a complete list of the designated entities, access online: http://www.treas.gov/offices/enforcement/ofac/actions/.