HAVANA, Cuba, May 7 (ACN) The U.S. animal nutrition company BIOMIN America, Inc. paid 257,862 dollars to solve its possible civil responsibility for apparent violations of Cuba's Asset Control Regulations.
According to information from the Office of Foreign Assets Control (OFAC) of the U.S. Department of the Treasury, this company, based in Overland Park, Kansas, between July 2012 and September 2017, participated in a total of 30 sales of agricultural products produced outside U.S. territory to Alfarma SA in Cuba, without OFAC authorization, which resulted in 44 apparent violations of that country's legislation.
In this regard, BIOMIN carried out a transaction structure that it incorrectly determined would be consistent with the nation's sanction requirements, which resulted in OFAC's determination that the company voluntarily revealed the apparent violations, and such violations are not serious.
This specialized corporation in the use of science to support animal health and efficiency, through the application of advanced technology, joins the long list of American companies affected by the extraterritoriality of the US economic, commercial and financial blockade against Cuba.
Since the entry into force of Title III of the Helms-Burton Act in May 2019, the extraterritorial nature of the blockade has become evident in Cuba's trade relations with production companies in all branches of the economy.