Home > Latin America > Obama’s endless siege | Morning Star

Obama’s endless siege | Morning Star

… Despite the relaxation of travel restrictions Washington has continued to enforce economic sanctions on Cuba – with an increasing emphasis on “extraterritorial imposition,” that is, seeking to enforce its sanctions policy in all countries of the world. US extraterritorial blockade legislation is in violation of international law.

In June 2012 Dutch bank ING received the largest penalty ever for violating economic sanctions, which have been in place since the US began the siege of the island in 1960.

The Office of Foreign Assets Control (Ofac) fined the bank $619 million (£407m) for processing dollar transactions involving Cuba.

The Treasury Department also forced the bank to sever commercial relations with Cuba. It announced that “ING assured the Office of Foreign Assets Control that it had put an end to practices that led to today’s settlement.”

Washington had banned a European bank from doing business with Cuba.

For more on this story, visit: Obama’s endless siege / Features / Home – Morning Star.

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