President Bush has expanded sanctions against Zimbabwe in reaction to Zimbabwe’s election, widely condemned as rigged, and the violence and other human rights abuses committed against members of the opposition party and its supporters before, during and after the election. The new sanctions block the property and interests in property, in the United States or in the possession or control of a U.S. person, of a broad range of persons involved directly or indirectly with Zimbabwe’s government.
The most immediate effect of the expanded sanctions will be to prohibit transactions with Zimbabwean parastatal entities and other companies related to the Zimbabwe government. Following the President’s imposition of the new sanctions, the U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) announced that it was designating eighteen persons as subject to the expanded sanctions.
More details: refer to http://www.bryancave.com/bulletins/ IRB No. 389 dated on July 28, 2008.