The U.S. Treasury Department called on financial institutions to freeze the assets of 17 Zimbabwean companies and a supporter of the country's president, Robert Mugabe, on Friday. The economic sanctions follow an executive order signed Friday allowing the department to block transactions of senior officials of the African government as well as accounts controlled by their families and related companies. The move was largely anticipated after a violent crackdown last month during Zimbabwe's presidential runoff that forced Mugabe's competitor to drop out of the race. "This action is a direct result of the Mugabe regime's continued politically-motivated violence, disregarding calls...
The U.S. government does not expect financial institutions to bear the burden of identifying companies owned and controlled by individuals on its list of blocked foreign nationals, a U.S. Treasury Department official said Tuesday.
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