WASHINGTON.—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.
According to the OFAC report, the French company’s activities in Cuban waters “caused significant harm to U.S. sanctions program objectives by providing a substantial economic benefit to Cuba.”
The fine, imposed just a few days before the visit by Cuba’s Minister of Foreign Trade and Investment, Rodrigo Malmierca, to Washington, is inconsistent with the current context of relations between the two countries and demonstrates that in order to make real progress towards the normalization of bilateral ties, the blockade must be lifted.
Since the announcements of December 17, 2014, the U.S. government has imposed fines on seven companies (four from the U.S. and three others) totaling $2,835,622,225 USD.
To date48fines have been imposedunder PresidentObama(2009-2016) due to violations of sanctions onCubaand other countries.The accumulated valueof the penaltiesis $14,397, 112,121 USD.
(With information from CubavsBloqueo)