Zimre Holdings removed from US sanctions list

Zimre Holdings has been removed from the US sanction list by the United States Treasury Department.  Zimre was placed on the sanctions list in 2008 when the government was still the majority shareholder.  ZB was also placed on the sanctions list in 2009, although it was later removed in October last year.  The sanctions were hurting Zimre’s chances of getting investment as American nationals and companies are prohibited from transacting with such companies.  Non-US foreigners were also afraid to deal with companies under US sanctions.

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