Russia –Zim ties risks attracting fresh US sanctions
Staff Writer
PLANS to form the Russia-Zim Business Council (RZBC) risks attracting severe penalties from the United States, local market watchers have warned.
This follows an announcement made by the Industry Minister, Sekai Nzenza Thursday who said the two countries were working towards deepening ties for the good of their private sectors.
She said work around the RZBC has reached crescendo and the RZBC will be launched anytime soon.
However , the developments coincide with the US is work on a law to sanction countries that trade with Russia in a manner that cascades to Russia’s financial capabilities to extend its war on Ukraine.
The proposed law, Countering Malign Russian Activities in Africa Act, was crafted last year and is yet to reach Biden’s desk.
Market watchers have warned that if not careful, this legislative piece could result in more problems for Harare.
But on another note, the proposed law is already facing criticism from many African countries, including South Africa, which the US refers to as its “strategic partner in Africa”.
African countries raised this issue at the US-Africa Leaders Summit in Washington DC last December.
On 21 February, Republican John James, a congressman from Michigan, introduced a Bill “opposing the Republic of South Africa’s hosting of military exercises with the People’s Republic of China and the Russian Federation and calling on the Biden administration to conduct a thorough review of the United States-South Africa relationship”.
South Africa took part in the exercise after snubbing America’s versions, known as the Obangame Express 2023 and Cutlass Express 2023.
With other African countries refusing to cut their deep roots with Russia, Zimbabwe is also in the mix, having last month hosted Belarusian President Alexander Lukashenko.
