News
US Blockade Obstructs Cuban Financial Activity
The US blockade on Cuba for more than half a century pursues to throttle its financial activities by preventing its enterprises from carrying out operations abroad.
Source
Prensa Latina
Date
The US blockade on Cuba for more than half a century pursues to throttle its financial activities by preventing its enterprises from carrying out operations abroad.
This is denounced in a yearly report issued by the islands government to submit to the UN General Assembly for damages inflicted by United States hostility.
Among those affected is the group of Pharmaceutical Biological Laboratories (Labiofam), whose funds destined to cooperate with the eradication of malaria in Tanzania were frozen by a US bank.
The sanction was enacted despite the company only managed the funds for the construction of a plant of biolarvicides.
On its part, the South African company Mohlaleng Health has not been able to transfer to Cuba the sum of 148 thousand 500 dollars from the payment of a bill extended in 2012 to buy 2400 bottles of Vidatox, made by Labiofam.
The main reason for the delay is the fear to US retaliation, what goes to show the extraterritorial nature of the siege on the island.
Also, the blockade prevents Cuba from buying items to companies whose plants are based on US territory and compels them to make more expensive operations with intermediaries and distant suppliers.
According to the Central Bank of Cuba, some causes of the obstacles imposed by the United States are blocking Cuban banking operations with foreign enterprises.
As a result, many financial organizations reject doing business with Cuban clients.
Most of UN member States express every year their support to a Cuban proposal pleading to cease the blockade.
Last year, voting at the UN General Assembly resulted 188 in favour of lifting the blockade and 3 for keeping it.
This is denounced in a yearly report issued by the islands government to submit to the UN General Assembly for damages inflicted by United States hostility.
Among those affected is the group of Pharmaceutical Biological Laboratories (Labiofam), whose funds destined to cooperate with the eradication of malaria in Tanzania were frozen by a US bank.
The sanction was enacted despite the company only managed the funds for the construction of a plant of biolarvicides.
On its part, the South African company Mohlaleng Health has not been able to transfer to Cuba the sum of 148 thousand 500 dollars from the payment of a bill extended in 2012 to buy 2400 bottles of Vidatox, made by Labiofam.
The main reason for the delay is the fear to US retaliation, what goes to show the extraterritorial nature of the siege on the island.
Also, the blockade prevents Cuba from buying items to companies whose plants are based on US territory and compels them to make more expensive operations with intermediaries and distant suppliers.
According to the Central Bank of Cuba, some causes of the obstacles imposed by the United States are blocking Cuban banking operations with foreign enterprises.
As a result, many financial organizations reject doing business with Cuban clients.
Most of UN member States express every year their support to a Cuban proposal pleading to cease the blockade.
Last year, voting at the UN General Assembly resulted 188 in favour of lifting the blockade and 3 for keeping it.