Obama has Fined 49 Companies Over $14 Billion for Violating the Blockade against Cuba since the “Thaw”

October 6, 2016

Photo: Bill Hackwell

Photo: Bill Hackwell

A total of 49 fines have been imposed, during Barack Obama’s Administration, to US and foreign entities for violating the US Embargo against Cuba according to the records of the Office of Foreign Assets Control (OFAC) of the US Government.

The cumulative value of such fines amounts to $ 14,397,416,827, an unprecedented figure in the history of the application of the US Embargo against Cuba.  Despite the two countries reestablishing diplomatic relations more than a year ago, after more than half a century without embassies, Washington’s economic, financial and commercial siege against the small Caribbean country is still in force.

Following the announcement of December 17, 2014, when the process of normalization of relations between Cuba and the United States began, eight entities have been fined (5 American and 3 foreign)  a cumulative value of $2,836,681,581, with marked extraterritorial nature and its corresponding intimidating effect on the banking and corporate sector.

The entities that have been fined by the United States since December 17, 2014 for violating the US Embargo are listed as follows:

  • Commerzbank, from Germany: $1,710,000,000
  • PayPal, from the United States: $7, 658,300
  • Navigators Insurance Company (“Navigators”), from United States. : $271,815
  • Crédit Agricole, from France: $1,116,893, 585
  • Gil Tours Travel, Inc., from the United States: $43,875
  • WATG Holdings, Inc. (WATG), from the United States: $140,400,000
  • CGG Services S.A., from France: $614,250
  • Halliburton, from the United States: $304,706

Undoubtedly, the Blockade persists. It harms the Cuban people and other countries trying to engage with the island.


Source: Permanent Mission of Cuba to the United Nations