New York, 5 October 2020. The current administration of Donald Trump continues its policy of harassment to the Cuban people and economy. The most recent example was the imposition of a hefty fine on the US travel insurance company Generali Global Assistance, Inc. (GGA) by the Department of the Treasury’s Office of Foreign Assets Control (OFAC).
GGA agreed to pay approximately six million dollars for violating the Cuban Assets Control Regulations (CACR). According to OFAC, this amount would settle its alleged civil liability for “2,593 apparent violations”.
The penalty is imposed despite GGA referred the Cuba-related payments to its Canadian affiliate, thereby avoiding processing reimbursement payments directly to Cuban parties and to travelers while they were located in the Caribbean country.
However, OFAC affirmed in its statement that this act is an egregious violation of the applicability of US sanctions against Cuba regarding this activity.
The company adds up to other international institutions fined during last year, among them the British bank Standard Chartered, Expedia Group, General Electric, Allianz Global Risks U.S. Insurance Company and the Swiss company Chubb Limited.
All those sanctions are regarded as alleged violations to the blockade policy against Cuba, sustained by Washington for six decades, despite the opposition of the majority of the international community.
Permanent Mission of Cuba to the United Nations