Featured Cuba

Societe Generale sued for $792 million by heirs of Cuban bank seized by Castro

The family of the former owners of a Cuban bank seized by Fidel Castro’s government nearly six decades ago sued Societe Generale (SOGN.PA) for approximately $792 million, saying the French bank owes damages for circumventing U.S. sanctions against Cuba. In a complaint filed on Wednesday with the U.S. Read More

Fugitive U.S. tech guru: Cryptocurrency is next Cuban revolution

On the run from U.S. tax authorities, tech guru John McAfee puffs a cigar aboard his towering white yacht in a Havana harbor and says he can help Cuba evade the U.S. government too – by launching a cryptocurrency that defeats a U.S. trade embargo. The creator of the eponymous… Read More

US sanctions Cuban firm to weaken Maduro’s hold in Venezuela

AP — The United States hit Cuba’s state-run oil shipping firm Cubametales with financial sanctions on Wednesday, saying it’s a key player propping up Venezuela’s President Nicolás Maduro. “Maduro is clinging to Cuba to stay in power, buying military and intelligence operatives in exchange for oil,” U.S. Treasury Secretary… Read More
26th June 2019
U.S. sanctions on Cuba are deterring American firms from exploring its telecommunications sector even as Washington seeks to expand internet access on the Communist-run island, according to the final report of a U.S. government task force released on Tuesday. Chinese companies dominate Cuba’s telecoms sector, a status quo “worth challenging… Read More
5th June 2019
The Trump administration banned cruises to Cuba under new restrictions on U.S. travel to the Caribbean island imposed on Tuesday to pressure its Communist government to reform and stop supporting Venezuelan President Nicolas Maduro. The tightening of the decades-old U.S. embargo on Cuba will further wound its crippled economy, as… Read More
6th May 2019
The European Union warned the Trump administration on Thursday that its recent decision to permit US citizens to sue over seized Cuban assets could prompt the economic bloc to invoke countermeasures. In a statement, the EU High Representative Federica Mogherini said that the decision by the White House… Read More
1st May 2019
AP — The Trump administration quickly declared enthusiastic support Tuesday for the Venezuelan opposition effort to spark a military uprising against embattled President Nicolas Maduro, hoping for decisive action in the political crisis that has engulfed the South American nation. Late in the day, President Donald Trump threatened a “full… Read More
18th April 2019
By William M. LeoGrande, American University School of Public Affairs The Trump administration has declared the most severe new sanctions against Cuba since President John F. Kennedy imposed an economic embargo banning all trade with the communist island in 1962. Speaking in Miami on April 17,… Read More
18th April 2019
The Trump administration on Wednesday announced sanctions restrictions targeting Venezuela, Cuba and Nicaragua, including a designation of Venezuela’s central bank and pending limits on Cuban remittances. The administration added Banco Central de Venezuela to its Specially Designated Nationals (SDN) List to “prevent it from being used as a tool of… Read More
17th April 2019
The Trump administration will allow lawsuits in U.S. courts for the first time against foreign companies that use properties confiscated by Communist-ruled Cuba since Fidel Castro’s revolution six decades ago, a senior U.S. official said on Tuesday. The major policy shift, which will be announced on Wednesday, could expose U.S.,… Read More
16th April 2019
A UniCredit Group affiliate bank will plead guilty to US federal and state criminal violations and pay $1.3 billion to regulatory and prosecutorial agencies to resolve breaches of sanctions against Iran and other nations, officials disclosed. Under terms of a non-prosecution agreement with the US Justice Department, the group’s German… Read More
14th April 2019
The United States on Friday announced more sanctions on shipping companies transporting oil from Venezuela, blacklisting four shipping companies and nine vessels, some of which the U.S. Treasury Department said carried oil to Cuba. The U.S. Treasury identified the firms as Liberia-based Jennifer Navigation Ltd, Lima Shipping Corp and Large… Read More
12th April 2019
Venezuela’s state-run PDVSA has shipped 1 million barrels of oil to Cuba days after the United States imposed fresh sanctions on vessels and firms involved in exports to the island in an effort to halt oil trade between the political allies, according to a PDVSA document and tanker tracking data. Read More