US to seize funds accruing from the sale Zim diamonds

via Bulawayo24 NEWS | US to seize funds accruing from the sale Zim diamonds by Staff Reporter 10 November 2013

The United States has said it will seize funds accruing from the sale of Chiadzwa diamonds in Europe.

Zimbabwean diamonds are expected to flow into Europe following the lifting of EU sanctions on the Zimbabwe Mining Development Corporation and the Minerals Marketing Corporation of Zimbabwe in September.

With most transactions in the global economy being conducted via New York, the US government said it will enforce its Office of Foreign Assets Control (Ofac) law that stipulates the confiscation of money belonging to entities covered by sanctions under the Zimbabwe Democracy and Economic Recovery Act (ZDERA).

US Ambassador to Zimbabwe Mr Bruce Wharton told The Sunday Mail that the Ofac law would be applied on Zimbabwe’s diamond trade in Europe.

“We have an ongoing dialogue with our EU colleagues regarding our respective policies and other issues of mutual concern and interest. There is no general prohibition on doing business with the Zimbabwean diamond industry or on the importation of Zimbabwe-origin diamonds to the United States,” said Mr Wharton.

“However, US persons are prohibited from engaging in any transactions in which a person or entity on the Specially Designated Nationals and Blocked Persons (SDN) list has an interest. If European entities seek to transact business via the US banking system, US laws will apply.”

A high-powered delegation, led by the AWDC chief executive, Mr Ari Epstein, visited Zimbabwe last month to map out trade modalities. Mr Epstein, in an exclusive interview with The Sunday Mail, said the diamonds will fetch good prices because the Antwerp market is the world’s largest diamond trade platform.

A Zimbabwean delegation is this week expected to visit the AWDC. The imminent trade opportunity will likely leave the Americans in an invidious position if they seize funds from Zimbabwe’s diamond sales.

Tampering with the money, experts say, would threaten European stakes in the Marange diamond trade. So far, OFAC has taken more than US$30 million destined for Zimbabwe.

Contacted for comment over the looming clash, EU Commission Head of Delegation to Zimbabwe Ambassador Aldo Dell’Ariccia said it was up to the United States to respond to matters regarding its sanctions position on Zimbabwe.

“The decision by the US whether or not to lift their sanctions on ZMDC is a responsibility of the US,” he said. US-based legal expert Mr Erich Ferrari, who specialises in Ofac matters, however, said Washington had opened itself to a possible barrage of lawsuits from EU companies.

 

COMMENTS

WORDPRESS: 46
  • comment-avatar

    America must seize the diamond money becoz that money is nt cming back to Zimbabwe.hatina basa nazvo isu until we start to c progress as for nw those diamonds are personal properties of few individual nt Zimbabweans

    • comment-avatar

      Chibenzi. So what’s targeted about getting money from diamond. You want that money to come to your pocket .unless you count yourself haiko. Lick your wounds after loosing dismally. It’s a shame you are a Zimbabwean. Maybe you come from Florida State

  • comment-avatar

    Screw all these companies that are doing business with zanoids as if the diamonds belong to them. It belongs to the country big zanoids

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    Nyoni 8 years ago

    Those diamonds belong to us Zimbabweans . The US AND PARTNERS SHOULD TAKE ALL PROFITS FROM THE SALES AND GIVE IT BACK TO US IN THE FORM OF AID. THE MONIES IF GIVEN TO ZANU PILFERING FACTION WOULD BE A MISTAKE.

    • comment-avatar
      Angel 8 years ago

      When was the last time that WE took any money out of OUR diamonds ?

    • comment-avatar
      Chivulamapoti 8 years ago

      Specially Designated Nationals and Blocked Persons mean Mugarbage, Dis-grace and friends – NOT Zimbabweans, so yes, USA keep every dime of the filthy diamond income and keep it for Aid, Food, Medicine and Vaccines etc. Don’t allow Mugarbage and Dis-grace to get their filthy hands on the loot!

    • comment-avatar

      The US are god with promises, they will never give us money back.
      Jack Straw pledged to rebuild Zimbabwe after the west brought it to its knees – statement in the commons – now they say shame we have no money, austerity measures.
      Point is they owe Zimbabwe money with calling it aid, its compensation for deliberately destroying our economy.

  • comment-avatar
    Africanson 8 years ago

    The truth has come out on who has and is still causing our kids to go to bed with empty stomachs.

    • comment-avatar

      zanupf have stolen so much money and hidden in various ways .It is now pay back time.do not blame anybody for this other than the biggest thieves in the world zanupf.

    • comment-avatar
      Rudadiso 8 years ago

      What truth Africanson? None of the funds realised from the sale of diamonds in India and China were ever used to develop this country. Where did the money go? It simply means whether or not the US confiscates such funds has no relevance to the ordinary Zimbabweans. The money was never going to benefit us anyway.

    • comment-avatar

      Its the west with their team of propaganda journalists to try and con the public.
      They announced it in their parliament but locally the press made no comment. They are paying us big bucks for propaganda we cant tell the truth we will be broke like the rest of the country, cant have that we are propaganda journalists.

  • comment-avatar

    Amazing……the fools that have commented above supporting the seizure of funds would most likely, on another forum, say that sanctions do not exist……this is how messed up our national mentality is…….sad

    • comment-avatar
      B.Mathe 8 years ago

      IWE ROB SHUT UP ACCOUNT FOR THE MISSING 2BILLION USA DOLLARS FIRST THEN TALK.

      • comment-avatar

        AS for u, B.Mata, breathe deep……the lack of oxygen and your anger are preventing rational thought

    • comment-avatar
      Angel 8 years ago

      Any hope will remain an elusive dream until Zimbabweans rediscover their shared international values by creating a culture of tolerance, by deepening democracy, by defending human rights, and by respecting international law.

      • comment-avatar
        Chivulamapoti 8 years ago

        Any hope will remain a dream while Mugarbage and ZPF are alive!

  • comment-avatar
    Zimbo 8 years ago

    Ok Rob, let me say this s l o w l y…. There are NO sanctions on Zimbabwe, only on Mad Bob and his chefs. Do you understand what i have just said…..? N O . S A N C T I O N S on Zimbabwe. Unlike the sanctions on Rhodesia, which were against a country, the current sanctions are aimed at a few corrupt, thieving, despotic beneficiaries of the Zimbabwe Government. The sanctions are NOT on the ordinary people of Zimbabwe. Those that are on the sanctions list, use that as an excuse for their complete and utter mismanagement of Zimbabwe. YOU need to wake up and smell the coffee!!!! Twat!!!

    • comment-avatar

      @zimbo…….while thereI have no problem with talking slowly, I would urge u not to think too slowly……I would ask u one question: u are so convinced that pre 1980 sanctions were more real than now. Have u actually read any of the laws that were laid down to effect those vs. the current ones such as zdera? If so, what makes the former any more debilitating?……my guess is that u haven’t, and that in actual fact, u are basing your opinion on what the sanctioners have told u to be the facts…..I have never stated that sanctions were the only cause of our problems, but I am too intelligent not to realise that the current sanctions regime has had a negative effect on my country……u on the other hand, are either too stupid, or too stubborn to admit the same…….its sad actually

    • comment-avatar
      Angel 8 years ago

      U is a major development partner for Zimbabwe and also funds various local civil society groups. Continuing with sanctions and retreating to confrontationalism would not only irreparably damage EU relations with Africa but could also punish ordinary Zimbabweans, including the very civil society groups which the EU promotes. In politics and diplomacy, being inside the tent, however reluctantly, is more effective than shouting from outside.
      Ultimately, the EU will probably give a heavily caveated recognition of the polls and the new government. It is, however, also likely that EU recognition of the new reality in Zimbabwe will cause friction with the more hardline US and Australian positions. Indeed, Zimbabwe could add to the increasingly spiky EU-US relations in the wake of the Snowden revelations about US spying on EU embassies.

      Africa’s future is up to Africans. The United States supports the Zimbabwean people in their effort to fully realize the promise of democracy, human rights, and economic development. Zanu-PF is highly unlikely to do anything in the short-term which would enable the west to remove the sanctions and rob Mr Mugabe of his favourite campaign weapon. So the Zanu PF leadership finds itself on very thin ice and if they make one wrong step, they will break through and freeze to death. They simply cannot make good on their promises to pay higher salaries to Government workers and the armed forces, they cannot improve allowances and pensions to war veterans. They have to resume debt collection with tough penalties and they have to persuade a skeptical business world that there is life after the elections and under Zanu PF leadership.

      • comment-avatar

        @Angel……this is a fair analysis. It makes for healthy debate……my main concern with it is your thinking that zanu would rather have sanctions in place as campaign weapon……given the economic pressures that u mention (ie civil servant salaries) how do u justify your perception of them weighting th value of a campaign weapon over a that of a satisfied electorate? Surely this would be a tougher road to choose over the border line austerity measures u refer to at the end of your piece? …..I really hope u respond……u seem sensible

  • comment-avatar
    Mike Nyathi 8 years ago

    Take the money and use it to fund regime change

  • comment-avatar

    Its sad to learn that most Zimbabwean don’t know what is really happening.We need to know who really is making our situation worse.I always wonder how many of us are short sighted.

  • comment-avatar
    Bruce 8 years ago

    The Americans should take even the assest belonging to all ZANU PF members scattered all over the world if they have power, ZANU PF has cause much suffering to people. If look at Mugabe’s house in Borrowdale, worth over 100 million when the country is failing to service its debts.

  • comment-avatar
    Shebah 8 years ago

    So who was saying there were no sanctions, Mark are these sanctions!! We can still sale our diamonds privately and very non transparently. So next time dont ask were the money is because America should not know the transaction process. By the way the money is back in Zimbabwe

    • comment-avatar
      Zimbo 8 years ago

      Where is your proof that the money is back in Zimbabwe. It is so sad to see that Zimbabwe once had one of the most educated nations in Africa, if not in the world. Now we have complete and utter idiots like you (Sheba), who make statements that you cannot substantiate. As you say, “sell diamonds privately and very non transparently”, these diamonds are not benefiting Zimbabwe, but a few select chefs and Mad Bob and his family. If the profits from the diamond sales were benefiting Zimbabwe, don’t you think we would have better roads / water services / street lights, hospitals that can function properly, etc. Don’t you think our fellow countrymen would be back in Zimbabwe and not in South Africa / Botswana / England / Australia, etc….? You my shamwari, are completely blind to the reality of life in Zimbabwe. Maybe you are a beneficiary of the diamond dealing from the chefs?

    • comment-avatar

      shebah shebah shebah!!!!

    • comment-avatar
      Zimbo 8 years ago

      I see Sheba has no response. Maybe my comment was a bit to much for him to digest.

    • comment-avatar

      Yes, probably in a completely over the top, tasteless, showy mansion of your own. You people with your big, flashy cars and monstrous houses. You have it all wrong. You couldn’t care less whether the country and it’s people are suffering.

      • comment-avatar

        That was in response to Shebah and his comment that the money was back in Zim.

  • comment-avatar
    Hisexcellency 8 years ago

    Yeah, put the blame on U.S and all Westerns now.

  • comment-avatar
    Shebah 8 years ago

    Zimbo if you are told how the money was used the Americans will trace its origins, we are not that foolish. Ask yourself where the money which landed in Biti’s Finance account came from at election time without his knowledge.

    • comment-avatar
      Zimbo 8 years ago

      You my friend live in a delusional world. I really would love to be able to get inside your head and see the world as you see it. Mugabe and company have stolen millions of US$ from Marange. These diamonds have been smuggled out to China / India / UAE. The sales of these diamonds have only benefited Mugabe and his henchmen, as well as the Chinese, Indians and Arabs that have done the deals. None of this money has been put back into the country to improve the infrastructure. What was once a beautiful country (proud to call it home) is now a hovel.

  • comment-avatar

    @ Fungai Ngwazi, the food has never been given to us it has always been eaten by the fat Chefs who pretend to prepare it for us. They have everything they need and more yet people are dying of drought. Politicians, have compassion for your fellow Zimbabwean brothers and sisters, have pity rededicate yourselves to being leaders of your people not their masters. Surely you wine and dine and expect people to pick up the crumbs on the floor to feed themeselves and their children? Dont you politicians have a conscience that fears God? Harden not your hearts please. Pindirai Mwari.

  • comment-avatar
    Africanson 8 years ago

    God will never bless a nation that celebrate the seizures of its resources. Sabotaging our economy is not prudent at all. The economy is not zanu. The economy will still exist after zanu is long gone. You will not achieve change by making your people suffer. Joblessness will not hurt zanu but poor Zimbabweans. Its not everyone who is working in the diaspora. We can do much better I’m preserving. The few jobs available in Zimbabwe or even do more. It does not please a kind heart to make the vulnerable desperate only the wicked. So many areas were spared bombings after accommodating rebels but could not be bombed to protect women and children. Why should we pretend to punish zanu when we know for sure that we are afflicting our own innocent souls?

  • comment-avatar
    Nyoni 8 years ago

    All we want is for what is ours to benefit all Zimbäbweans and the country not the few. Whats wrong in saying that. The monies made must be used to build the country. Otherwise like Mobutu in Zaire now DRC , WE WILL BE FINISHED AS A NATION AND BECOME MERE THIEVES. Is this what we want for our children. Let us all think of the big picture now instead of our individual self.

  • comment-avatar
    Africanson 8 years ago

    The big picture is to preserve jobs and create more. Lets grow our economy. Lets separate issues. Zanu and mdc belong to a few but Zimbabwe and the economy belong to all of us. Remember there is someone working unki mine in Zimbabwe who is neither zanu nor mdc whose job is threatened by the threat of seizure of zim money by the US. In any case that particular employee could be an mdc card carrying member.

  • comment-avatar
    Shebah 8 years ago

    ZIMBO- You were saying where is the money now you say its with Chinese, Indians blabla. How did you get the information.

    • comment-avatar
      Angel 8 years ago

      HAVE YOU EVER BEEN OUTSIDE ZIM ? HAVE EVER MET NORMAL PEOPLE ?

  • comment-avatar
    Mr Mixed Race 8 years ago

    I did not want to comment on this topic but the ignorance I have seen to some of our writers is terrible.Shebah is one of those people we should blame for these misguided leaders because he is the type who worship leaders instead of respecting them.No one is born a dictator but we create them ourselves by equating them to our GOD which is absolutely ridiculous.When the Americans seize funds they consider illegally acquired,they normally transfer them to the rightful owners.They do not steal money meant for the public.Mr.Shebah are you not tired of seeing your dear mother in the rural area suffering.Maybe I am asking the wrong person since you have no human conscience to feel for others.I can guarantee you that one day you will answer for your actions.

  • comment-avatar
    Tichaona 8 years ago

    Shebha when a country does not have its own currency and has got vast amounts of minerals it shows there is a deep rooted problem from the government.Instead of glorifying the monster we should be having positive criticism that benefit out parents , children and grandchildren. Unless ZANU starts to appreciate the value of a human being these Diamonds will always be a curse and not a blessing .Look at Idi Amin where is he now with all the billions of dollars? Most of our leaders are living for today and not tomorrow. If we should progress as a nation we need to emulate and learn from other countries .

  • comment-avatar

    It’s time to take these zanoids out. One at a time