January 30, 2008
HP-789

Treasury Expands Sanctions on Zimbabwean Companies and Individuals

The U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) announced sanctions today against two Zimbabwean entities and two individuals that contribute to the undermining of democratic processes and institutions in Zimbabwe.

"The U.S. financial system is closed to Robert Mugabe, his cohorts and their businesses," said OFAC Director Adam J. Szubin.  "Today's designations are part of an increased effort to pressure those who are aiding Mugabe's efforts to cripple Zimbabwe, including through violence and intimidation."

Today's designations include ZIDCO Holdings, a ZANU-PF financial holding company, as well as the ZANU-PF's publishing arm, Jongwe Printing and Publishing Company. Both ZIDCO Holdings and Jongwe Printing and Publishing Company are owned or controlled by key components of the Mugabe regime that have already been designated.  Also named today are Happyton Bonyongwe and Leo Mugabe.  Happyton Bonyongwe is the Director of Zimbabwe's Central Intelligence Organization (CIO), and is considered Zimbabwe's "spy chief." Leo Mugabe is a Member of the Zimbabwe Parliament and the nephew of Robert Mugabe.

These designations are made pursuant to Executive Order 13391, which authorizes the Secretary of the Treasury to designate any individual or entity that:  has engaged in actions or policies that undermine Zimbabwe's democratic processes or institutions; has materially assisted entities or individuals already designated by OFAC; is an immediate family member of an individual already designated pursuant to the Order; or, is owned or controlled by any entity or individual already designated pursuant to the Order.  As a result of Treasury's designations, any assets of these individuals and entities that are within the United States or in the possession or control of any U.S. person must be blocked, and U.S. persons are prohibited from dealing with them.