Page 21 - Msingi Afrika Magazine Issue 25
P. 21
Leadership
IEEPA is a War and Defense, South Africa will cease to
Title 50 instrument, be a threat to U.S. national
that mandates the U.S. interests. In other words,
government to block any South Africa must acquiesce
financial assistance to, or to U.S. foreign policy for
cooperation with, a nation sanctions to be removed.
identified as a threat to the
U.S. 5. Once the U.S. President
has implemented IEEPA, Written by Rutendo Matinyarare,
4. With that, the President, at he is enjoined to write a Founder of Frontline Strat
his discretion, can investigate; report to Congress in six Marketing Consultancy.
block the financial assets; months, informing them of
restrict loans, prohibit the the implementation of these before South Africa is
clearance of funds and measures on South Africa. designated a threat, the U.S.
investment in South Africa Congress can also impose
without the approval and 6. Thereafter, a review of its own sanctions as they
license of the Secretary of these economic coercive did to Zimbabwe in 2001,
State. measures will be carried when they imposed ZDERA
out one year after their sanctions before the country
The act also outlines penalties implementation and six was designated a threat to
that will be imposed on months after the presentation U.S. national interests in
any U.S. company, bank, of the report to Congress. 2003. After, George Bush
individual, foreign company, then declared a National
and even local South African 7. Subsequently, the Secretary Emergency on that country
companies and individuals of State and the OFAC and imposed his executive
that do business with the SA (Office of Foreign Assets order sanctions EO13288.
government, its parastatals, Control) in conjunction with
and those who do business the Department of State, In all intents and purposes,
with them, without a license Homeland Security, and when this happens, South
from the U.S. Secretary of Department of Justice will Africa will be under unilateral
State. administer the sanctions for coercive economic measures
a year pending review and or sanctions. Suffice to
With this, the U.S. President cancellation or renewal. say, these will be illegal
will outline the terms and sanctions at international
conditions under which 8. Compounding this, even law because the U.S. will
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