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#Sudan Reaps Benefits of Decision to Lift Sanctions


The US Treasury Department lifted the ban on more than 223 companies, institutions, banks and Sudanese public and private organizations in line with the political decision made by the US government a week ago to revoke the economic embargo on the country.

The list was published on the official website of the Office of Asset Control on Thursday.

The United States imposed sanctions for the first time on Sudan in 1997 for human rights abuses and terrorism-related concerns.

Former US President Barack Obama announced in January a tentative agreement to ease sanctions on Sudan.

In July, President Donald Trump's administration postponed the decision to lift the sanctions permanently for three months, and set October 12 as a deadline for Sudan to meet conditions, including resolving conflicts and strengthening its humanitarian efforts.

Governor of the Central Bank of Sudan Hazem Abdulkader said Friday in a statement from Washington that the US Department of State's Office of Foreign Assets Control, which is linked to the US Treasury, has published a list of 223 companies, organizations and factories involved in the lifting of the embargo, their names, addresses and locations inside the country, according to Sudan News Agency (Suna).

Sudan Central Bank, Sudan Railway Corporation, Giad Industrial Company and Sudan Telecommunications Company (Sudatel) topped the list of 223 Sudanese bodies that the embargo was actually lifted on.

Deputy Chairman of the Sudan Banks Union Abbas Ali Abbas said that all banking correspondents around the world will resume banking activity with Sudan next Monday, especially in the field of reviving bank accounts and removing Sudanese banks from US embargo lists.

Minister of Transport, Roads and Bridges, Engineer Makawi Awad pointed out that lifting the US embargo on the railway and airways sectors in Sudan would facilitate many activities related to them.

He confirmed the return of the Sudanese air transport sector and the navigational lines which were controlled by Sudan in several ports.

The Khartoum-Madani railway line will be opened next to railway lines from Khartoum to Gezira, Kassala and Sennar.

The US Treasury's decision came in line with the announcement of UAE investments in the country in addition to investments by China, Russia, India, South Africa, Brazil, Mauritania, Norway and a number of US and Arab companies, headed by Saudi Arabia.

Besides the weak investments, the country has been suffering from high debts, amounting to $47 billion in the first quarter of this year.

For his part, Minister of Finance and Economic Planning Dr. Mohammed Osman al-Rikabi has revealed that his ministry will implement certain procedures to benefit from the lifting of economic sanctions, a move that would strengthen Sudan's relations with international financial institutions.

The minister, who is participating in the current annual meetings of the First African Group of the World Bank and the IMF, told Asharq Al-Awsat in a phone call that Sudan has gone a long way in dealing with its commercial debts.

"We need to put more efforts to take advantage of the lifting of sanctions, continue (the implementation of) our economic and political reform packages and receive debt exemption to reintegrate into the global economy," Rikabi stressed.



Original Article: https://aawsat.com/node/1051891

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