European Union closes Caaz account
The European Union last month ordered a freeze on the Civil Aviation Authority of Zimbabwe (Caaz)'s bank account as part of measures to tighten economic and travel sanctions on the Zanu PF government. The EU and the United States imposed an economic and travel ban on President Robert Mugabe and close political aides in 2002 after the roundly condemned presidential election. At the same time US President George Bush successfully lobbied Congress to implement the Zimbabwe Democracy Act. Under the Act, Zimbabwe is not eligible to benefit from any sort of financial assistance either from the US government or firms registered in that country.
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