US inches towards sanctions on Tanzania

Publisher:
DaMina Advisors
Publication Date:
30 September 2020
Tags:
Tanzania, Economy, Business and Finance, United States, Canada and Africa

The US House of Representatives is poised in the coming days to vote overwhelmingly for H. RES. 1120, sponsored by a leading Democrat Rep. Karen Bass (D-CA) and Rep. Chris Smith (R-NJ). The resolution seeks to give the Trump administration the necessary legal justifications to impose economic and other punitive sanctions on Tanzania.  While the resolution itself does not specify which sanctions are to be imposed, it urges the Trump administration to - "engage Tanzania on democratic backsliding and hold the Government of Tanzania accountable for respecting the rights of its citizens in accordance with its international obligations and the Tanzanian Constitution." This bipartisan appeal is likely to find strong support within the Trump administration and in the US Senate. Sanctions could impact major mining firms with operations in Tanzania.

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