Chemplex Corporation Ltd & Zimbabwe Fertiliser Company Added To US Sanctions List

Two of Zimbabwe’s leading fertilizer and chemical manufacturing companies –  Chemplex Corporation limited   and Zimbabwe Fertiliser Company have been added on United States list of the Office of Foreign Assets Control (OFAC).According to an update dated  8 March, 2016 the two firms are effectively under sanctions.

The Office of Foreign Assets Control (OFAC) of the US Department of the Treasury administers and enforces economic and trade sanctions based on US foreign policy and national security goals against targeted foreign countries and regimes, terrorists, international narcotics traffickers, those engaged in activities related to the proliferation of weapons of mass destruction, and other threats to the national security, foreign policy or economy of the United States.

OFAC acts under Presidential national emergency powers, as well as authority granted by specific legislation, to impose controls on transactions and freeze assets under US jurisdiction.

Many of the sanctions are based on United Nations and other international mandates, are multilateral in scope, and involve close cooperation with allied governments – Source-bulawayo24