Please HELP! with the force majeure in a contract!

I was reading through this contract that I need to translate and I'm stuck on this force majeure part!!
I think there's something wrong this paragraph.
Isn't it saying no party's responsible for any delays and the damages caused by the delays???
Isn't it supposed to say no party's responsible for any delays and damages occured by the causes beyond the party's control?
Or it does say the latter and I'm misunderstanding the paragraph?
PLEASE HELP!!!

FORCE MAJEURE – neither party shall be liable for any delay in its performance of any of the
terms of this Agreement or any damages suffered by either party by reason of such delay or
indirectly caused by, or in any manner arises from fires, floods, accidents, riots, act of God, war,
government interferences or embargoes, strikes, labour difficulties, shortages of labour, fuel
power, materials, suppliers’ transportation delays, or any other causes beyond its normal and
direct control.

I think the bold part 'or' has to be removed? no??