Havana, Saturday 19 de October de 2019 06:17 am

General Electric fined 2.7 million dollars for alleged deals with Cuba

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General Electric fined 2.7 million dollars for alleged deals with CubaHAVANA, Cuba, Oct 2 (ACN) The Office of Foreign Assets Control (OFAC) of the U.S. Department of the Treasury announced on Tuesday in a statement that General Electric (GE) was fined for alleged violations of the U.S. blockade against Cuba.

The American firm based in Boston, Massachusetts, agreed to pay a fine of 2.7 million dollars on behalf of three subsidiaries (Getsco Technical Services Inc., Bentley Nevada and GE Betz), which committed 289 alleged violations of the Cuban Asset Control Regulations from December 2010 to February 2014.
In OFAC's statement, it is added that during the aforementioned period, these entities accepted payments made by The Cobalt Refinery Company (Cobalt) for goods and services rendered to a GE customer in Canada "with strong historical and current economic ties to the Cuban mining industry.
Prensa Latina news agency reported that OFAC determined that GE voluntarily disclosed the alleged violations and considered that they constituted a 'not serious' case, elements that mitigated the amount of the fine, but noted that the maximum civil monetary penalty applicable in this type of case is 18,785,000 dollars.
In spite of the fact that in almost 60 years of the imposition of the US blockade against the Caribbean nation, the sanctions and fines to companies and companies constitute common situations, it is evident that under the administration of Donald Trump the North American interference is gaining strength, protected by the activation of Title III of the Helms-Burton Law.

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