In an insightful conversation with Yemane Ghebreab, Advisor to Eritrean President Isaias Afwerki, the profound impacts of U.S. economic sanctions on Eritrea were brought to light, offering a deeper understanding of the country's current economic and diplomatic challenges.
The exclusion of Eritrea from the SWIFT system in November 2021, a vital global financial network, has placed it alongside nations like Iran, North Korea, and, more recently, Russia. This exclusion has severely hampered Eritrea's ability to conduct international trade, especially transactions in major currencies like the dollar and the euro, as most of these go through U.S. banks.
Yemane Ghebreab elaborated on the creative measures Eritrea has adopted in response. By fostering business relations with nations willing to engage, like Russia and China, and finding alternative means to complete transactions, Eritrea demonstrates resilience in the face of these challenges. However, the broader implications of these sanctions are significant, affecting not just the government but also the Eritrean diaspora and their families back home. The difficulty in exchanging dollars for nakfa, the Eritrean currency, impedes the flow of remittances, a vital source of income for many families.
The sanctions have further disrupted Eritrea's diplomatic functions globally, as the U.S. has closed accounts of Eritrean diplomatic missions, hindering their operational capabilities. This move not only affects diplomatic relations but also impacts Eritrea's global image and its ability to engage in international forums.
One of the most striking impacts of these sanctions, as Ghebreab highlighted, has been on healthcare, particularly the import of vital vaccines and medicines. The fear of falling afoul of U.S. sanctions among commercial carriers led to a shortage of vaccines in Eritrea, a critical issue given the country's focus on eradicating preventable childhood diseases through vaccination.
This conversation with Yemane Ghebreab underscores the complexity of Eritrea's situation under U.S. sanctions. The country's struggle to maintain economic stability and healthcare priorities amidst these restrictions paints a picture of resilience and ingenuity. However, the long-term impacts of these sanctions, if they continue like the previous UN sanctions, could have more severe and far-reaching consequences on Eritrea's economy and the well-being of its people.
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