Press Release by the Cuban Mission : “Obama has fined 49 companies for violating the Embargo against Cuba”

Oct 7, 2016 by

Please find enclosed Press Release by the Cuban Mission entitled:
“Obama has fined 49 companies for
violating the Embargo against Cuba”

dated 7 October 2016.

 

New York, 7 October 2016. A total of 49 fines have been imposed, during Barack Obama’s Administration, to US and foreign entities for violating the US Embargo against Cuba, according to the records of the Office of Foreign Assets Control (OFAC) of the US Government.

The cumulative value of such fines amounts to $ 14,397,416,827, an unprecedented figure in the history of the application of the US Embargo against Cuba, despite both countries reestablished diplomatic relations more than a year ago, after more than half a century without embassies and with Washington’s economic, financial and commercial siege against the small Caribbean country, which is still in force.

Following the announcement of December 17, 2014, when the process of normalization of relations between Cuba and the United States began, eight entities have been fined (5 American and 3 foreign) by a cumulative value of $2,836,681,581, with marked extraterritorial nature and its corresponding intimidating effect on the banking and corporate sector.

The entities that have been fined by the United States since 17 December 2014, for violating the US Embargo are listed as follows:

Commerzbank, from Germany: $1.710.000.000, 00

PayPal, from the United States: $7 658 300

Navigators Insurance Company (“Navigators”), from the United States. : $271 815

Crédit Agricole, from France: $1 116 893 585

Gil Tours Travel, Inc., from the United States: $43 875

WATG Holdings, Inc. (WATG), from the United States: $140.400,00

CGG Services S.A., from France: $614 250

Halliburton, from the United States: $304 706


Undoubtedly, the Embargo persists. It harms the Cuban people and, in like manner, affects third States.


(Cubavsbloqueo-Cubadebate)/ (Permanent Mission of Cuba to the United Nations)

 

Permanent Mission of Cuba to the United Nations

Address: 315 Lexington Ave., NY 10016

Telephone: (212) 689 7215

Fax:            (212) 689 9073

http://misiones.minrex.gob.cu/es/onu

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