US fines Dutch company for dealing with Cuba
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| Published on Friday, July 10, 2009 |
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HAVANA, Cuba (ACN) -- Dutch giant Phillips has been fined $128,750 by the US Office of Foreign Assets Control (OFAC) for selling medical equipment to Cuba.
The OFAC fined Philips Electronics of North America Corporation (PENAC), a subsidiary of the Dutch company, because “one PENAC employee travelled to Cuba without a license in relation with a sale of medical equipment, done by a PENAC foreign subsidiary”, Cubadebate website reported.
Despite being a Dutch company having subsidiaries in over 60 countries, including Brazil, where the equipment was produced, Phillips was forced to pay the fine, because of the regulations imposed by 1996 Helms-Burton Law.
This is the case of Phillips, which some 20% of its assets are owned by American capital, an official with the Cuban Chamber of Commerce told ACN news agency.
The New York-based Philips Electronics of North America Corporation (PENAC), agreed to pay the fine imposed by the US Treasury for the infraction committed between June 2004 and March 2006.
The Cuban Assets Control Regulations were issued by the US government on July 8th 1963, as part of the Blockade imposed on Cuba, and they affect all US citizens and permanent residents wherever they are located, all people and organizations physically in the United States and all branches and subsidiaries of US organizations throughout the world, as published on the OFAC Website.
In 1996 the US Congress and Senate passed, the Cuban Act, which was signed by then- president Bill Clinton. The legislation made the scope of sanctions extraterritorial, thus affecting all US companies in the world, or foreign companies with over 10 percent of US assets.
The extraterritorial Helms Burton Law and other measures with the US economic, commercial and financial blockade of Cuba have been aimed at isolating and toppling revolutionary government on the island.
Those who evade the US's anti-Cuba measures may face sanctions ranging up to 10 years in prison, $1,000,000 in corporate fines, and $250,000 in individual fines. Civil penalties can go up to $55,000 per every violation.
In 2008, fines related to the nearly 50-year US economic blockade against Cuba reached to $2.06 million , the largest figure since President George W. Bush reinforced restrictions on Cuban Americans to travel to Cuba, spend money or send remittances to their relatives in Cuba.
In a limited move, US President Barack Obama lifted in 2009 the restrictions imposed by former President Bush on Cuban Americans, though travel restrictions for all American citizens are still in force. | | | | Reads : 1289 | | | |
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