MEDIA RELEASE No: 2006-01 Date: 5 April 2006 Embargo: For Immediate Release

BANKING (FOREIGN EXCHANGE) REGULATIONS 1959
SANCTIONS AGAINST ZIMBABWE – AMENDMENT TO THE ANNEX

The Reserve Bank of Australia, following a directive from the Australian Government under the Banking (Foreign Exchange) Regulations 1959, currently administers financial sanctions against certain individuals associated with the Government of Zimbabwe. The list of individuals subject to sanctions includes ministers and senior officials of the Government of Zimbabwe, as well as senior management of state-owned enterprises of Zimbabwe.

The Australian Government has reviewed the list of individuals subject to financial sanctions and has directed the Reserve Bank to remove 57 individuals and add 15 new individuals to the Annex of names. The updated Annex now contains 159 names.

Any transactions involving the transfer of funds or payments to, by the order of, or on behalf of any person listed in the Annex are prohibited without prior approval from the Reserve Bank.

Enquiries:
Manager, Media Office
Information Department
Reserve Bank of Australia
SYDNEY

Phone: +61 2 9551 9720
Fax:     +61 2 9221 5528
E-mail:  rbainfo@rba.gov.au