The latest victim of the blockade: U.S. fines another French company

The U.S. Department of the Treasury imposed a fine on French company CGG Services S.A. for violations of U.S. sanctions on Cuba.

The company is the latest victim of the economic, commercial and financial persecution of Cuban transactions.

According to a report from the U.S. Department of Treasury’s Office of Foreign Assets Control (OFAC), the U.S. imposed the fine totaling $614,250 dollars on CGG Services S.A. and its affiliated companies for exporting spare parts and other equipment from the United States to a vessel operating in Cuba’s territorial waters.

The fine is yet another example of the extraterritorial scope of the blockade and its deterrent effect on foreign and even U.S. companies, who even within the limited context of the regulations might be interested in doing business with Cuba.

Read more:

http://en.granma.cu/mundo/2016-02-23/the-latest-victim-of-the-blockade-us-fines-another-french-company

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s