Sudan resumes financial transactions with U.S. banks: FM

March 24, 2017 (KHARTOUM) – Sudan’s Foreign Ministry Friday said financial transactions with the United States banks have resumed after the Finance Ministry and Central Bank of Sudan (CBoS) applied the required measures.

Last January, former President Obama signed an executive order to suspend two-decade sanctions against Sudan enabling trade and investment transactions to resume with the east African nation.

The move came in recognition of Sudan’s collaboration to curtail terrorism, and its efforts to improve humanitarian access to civilians in the affected conflict areas.

Within four months, Washington will review the situation and may re-establish the suspended measures, if it considers that Khartoum didn’t honour its commitments. But If its finding is positive then the sanctions included in 1997 and 2006 executive orders would be definitively cancelled.

Sudan’s Foreign Ministry Under-Secretary Abdel-Ghani al-Nai’m announced that commercial transactions in dollars have started with the U.S. banks, saying Sudan has great investment potential.

He told the semi-official Sudan Media Center (SMC) that a number of European companies will arrive in Khartoum in April to discuss investment opportunities in the country.

The Sudanese diplomat said Khartoum will continue dialogue with Washington on the terrorism file, expressing their readiness to communicate with counterpart institutions to serve interests of both countries.

Sudan was placed on the US terrorism list in 1993 over allegations it was harbouring Islamist militants working against regional and international targets.

Washington admitted Sudan’s cooperation in the anti-terror war but continues to maintain the east African nation name on the list with Libya, Iran, Iraq, North Korea, Syria and Yemen.

(ST)