HAVANA, Cuba, Jun 17 (ACN) European Union (EU) Foreign Ministers are meeting this Monday in Luxembourg to discuss the bloc's response to the United States to protect European investments in Cuba after the Trump administration activated the application of Title III of the Helms-Burton Act.
Cubadebate highlights that the Twenty-eight will examine their policy to protect European investments in Cuba after Washington reinforced attempts to alienate foreign investors from Cuba and whose extraterritorial scope violates the sovereignty of third countries interested in doing legitimate business with Havana.
The EU has already warned Washington that it will consider taking the case to the World Trade Organization.
"There hasn't been a decision yet on how to take this or not to the WTO, but we have other mechanisms for the protection of European companies, such as the Blockade Statute," a senior European Union official said.
One of the antidotes enacted in response to the extraterritoriality of U.S. law is the EU's Blockade Statute, passed in 1996, which prohibits the enforcement of third country court judgments.
This includes Helms Burton's Title III - with its extraterritorial scope - and allows companies sued in the United States to recover, through European courts, any damages caused by the legal process in that country.
The European Union, the region with the highest level of foreign investment in Cuba, thus provides an additional level of protection to European businessmen established on the Island.