Africa Finance Corporation

ASX/LSE-listed Danakali welcomes the United Nation’s decision to lift the arms embargo and targeted sanctions imposed on Eritrea since 23 December 2009.

“Danakali is delighted with the UN’s decision to lift the arms embargo and associated sanctions,” comments Danakali executive chairman and Colluli Mining Share Company Director, Seamus Cornelius.

“This significant step should have a positive impact on foreign investment and enhance international trade opportunities, leading to improved economic outcomes for the country.

“I offer my congratulations to the Eritrean people on this achievement and for their exceptional resilience and determination over many years.”

An arms embargo, asset freeze, and travel ban were imposed in 2009 amid claims Eritrea supported al-Shabab militants in Somalia but the country has always denied the accusations.

The UN vote comes amid a thaw in relations between Eritrea and its neighbours following years of conflict.

Somalia agreed a peace deal with Ethiopia following two decades of animosity, while the leader of Eritrea and the UN-backed government in Somalia recently signed a joint cooperation agreement.

Eritrea has also been criticised for human rights abuses and mandatory national service conscription, which has led to tens of thousands of young Eritreans fleeing the country for Europe.

The asset freezes and travel ban affected individuals and businesses, as well as the Eritrean leadership.