The first revenues for the export of cotton to the USA have reached the Central Bank of Sudan, according to a statement by the Sudanese Ministry of Finance on Tuesday.
Speaking at a workshop on the future of Sudan-USA relations in Khartoum, Acting Finance Minister Abdelrahman Dirar said “The economic transactions have actually begun. Today the first revenues of the operation of export of cotton to the US market arrived at the Bank of Sudan.
He pointed out that the losses Sudan has experienced due to US sanctions have exceeded $ 48 billion.
Dirar said that “there has been a rush by US companies and investors rush to Sudan before the expiration of the six- month deadline set by the US administration”.
Easing
In January, just days before leaving office, US President Barak Obama ordered the easing of financial sanctions against Sudan in recognition of “positive actions in countering terrorism”.
The executive order revoked parts of a US trade embargo, in place since the Bill Clinton administration in 1997. President Obama also lifted a freeze on certain assets of Al Bashir's government, in light of Sudan's “positive actions over the past six months.
“These actions include a marked reduction in offensive military activity, culminating in a pledge to maintain a cessation of hostilities in conflict areas in Sudan, and steps toward the improvement of humanitarian access throughout Sudan, as well as cooperation with the United States on addressing regional conflicts and the threat of terrorism,” Obama said at the time.