The US Treasury Department lifted sanctions on September 18 against several major Eritrean entities, including the People’s Front for Democracy and Justice (PFDJ), the Eritrean Defense Forces, the Red Sea Trading Corporation, and the Hidri Trust. These sanctions, originally imposed in September 2021 in response to Eritrea’s military involvement in the Tigray conflict, expired after Executive Order 14046 was not renewed. Eritrea controls over 700 miles of Red Sea coastline, a maritime corridor used by approximately 12% of global seaborne commerce. The delisting should enable the Red Sea Trading Corporation to resume international trade operations and allow financial institutions to reestablish banking relationships with Eritrea.
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