NBA Approval On Track As League Backs Prokhorov

CSKA Moscow

The NBA went after Congressman William Pascrell, D-NJ, this afternoon, contending his statements about Zimbabwe sanctions busting were "misinformed"...and that the league intended to proceed with an approval vote as soon as the land in Brooklyn has been vacated. 

"U.S. companies are not prohibited from doing business in Zimbabwe; rather, they are prohibited from conducting business with specifically-identified individuals or entities in that country," said an NBA spokesman. "The NBA is aware of no information that Mr. Prokhorov is engaged in business dealings with any of these individuals or entities."  Renaissance Group, the company that's the subject of the charges, said it had "relatively small minority stakes in two assets in Zimbabwe".

Prokhorov's investment company, Onexim, also issued a statement, "Contrary to erroneous media reports, the company and all of its holdings have always been in strict compliance with all United States and European rules regarding Zimbabwe and have had no dealings whatsoever with companies or individuals on the sanctions list."

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