Zimbabwe will support Russia in the fight against sanctions

The national flag of Zimbabwe

The authorities of Russia and Zimbabwe intend to join efforts in the fight superimposed with the U.S. and European Union sanctions. The decision was taken at a meeting of the intergovernmental Commission on economic cooperation held in the capital of Zimbabwe, Harare.

“In addition to expressions of solidarity in condemning these sanctions, we should, in particular, through the mechanism of the intergovernmental Commission, to unite our efforts to prevent damage to our economies, to apply who wanted the authors of these unfounded and immoral measures,” – said the Minister of foreign Affairs of Zimbabwe Simbarashe of Mumbengegwi (quoted by TASS).

The Zimbabwean Minister also thanked Russia for support of Zimbabwe in 2008, when imposed by Russia and China’s veto, allowed to block the adoption by the security Council of the United Nations prepared by the USA project on the introduction against Zimbabwe global sanctions.

“We are grateful to the Russian Federation for the support and solidarity shown in 2008 when a Russian veto in the Security Council has saved Zimbabwe from international sanctions that would destroy our country”, – said Mumbengegwi.

In turn, the head of the Ministry of industry and trade Denis Manturov called for the complete abolition of the sanctions imposed on Zimbabwe by the US authorities and the European Union, terming unacceptable “the practice of Western countries unilateral restrictions in respect of sovereign States”.

The Russian Minister said that in 2015 the turnover of trade between Russia and Zimbabwe increased by 7.5%, amounting to a total of $45.4 million Increase was achieved mainly due to the growth of imports from Zimbabwe of agricultural products. However, Manturov sure in the upcoming release of “a qualitatively new level of investment and economic cooperation, as Russia has a lot of what “Zimbabwe today buys or wishes to buy on the world market”.

In August 2008 Russia’s permanent representative to the UN Vitaly Churkin, explaining Russia’s decision to veto the draft security Council resolution on introduction against Zimbabwe of a number of sanctions (financial penalties, closure of borders for a number of high-ranking officials, a ban on the sale of arms Zimbabwe, etc.), called US, prepared the document “extremist”.

However, Russia imposed a veto didn’t help Zimbabwe. In August 2008, the country was redenominated in which 10 billion old Zimbabwe dollars were exchanged for 1 new. However, in October of the same year, the value of the local dollar fell again, according to official data, inflation for the year amounted to 231 million percent, according to unofficial quinquethiophene 6.5 percent. The reserve Bank of Zimbabwe had to issue the banknotes of denomination 100 trillion dollars (the Bank subsequently awarded Ignoresesskey prize in mathematics), but the situation only became worse in 2009, the Zimbabwean dollar ceased to exist and all currency conversions have been translated into foreign currency. Russia until this far.