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realclearworld

Cuba: Castro dictatorship decries U.S. fines imposed on its banks

All we ever hear from "Cuba Expert" after "Cuba Expert" is how sanctions against the Castro dictatorship in Cuba do not work. Apparently, the Castro regime believes otherwise. Now the slave masters in Havana are squealing like stuck pigs after the U.S. fined two large international banks for doing business with the Castro crime syndicate, seriously impeding the dictatorship's ability to traffic in stolen money and slave labor profits.

Just imagine if the sanctions against the regime already in place were used smartly to deal with the Alan Gross hostage crisis and the deplorable and deteriorating human rights situation in Cuba.

Juan Tamayo in the Miami Herald:

Cuba lashes out against U.S. fines on foreign banks

The Cuban government Thursday denounced what it called the “unjust and illegal” multi-million dollar fines the U.S. government slapped on two foreign banks for violating Washington’s sanctions on the island.

The U.S. actions show that its “ferocious persecution of financial and commercial transactions by Cuba and those with legitimate relations … has only changed but has hardened,” a Foreign Ministry official said in a statement.

The British-based HSBC bank agreed to pay $1.9 billion to the U.S. government last week to settle accusations that it laundered drug money through its Mexican and other branches, and violated U.S. economic sanctions on Cuba.

The next day Washington announced that Japan’s Tokyo-Mitsubishi UFJ bank had agreed to pay $8.6 million to settle what the Cuban statement called “a supposed violation of the unilateral sanctions of the United States against various countries, including Cuba.”

Under the trade embargo, banks cannot move Cuban funds through U.S. financial institutions or handle U.S. dollar deposits for Cuban entities or citizens. Cuba is subject to other sanctions as well because it is on the U.S. list of countries that support international terrorism.

Continue reading HERE.

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