Admin l Monday, December 21, 2020
WASHINGTON – The United States of America has blocked Cuban military-owned companies under the Specially Designated Nationals and Blocked Persons List
Announcing the development, Secretary of State, Michael R. Pompeo said three companies were blocked by the Department of the Treasury’s Office of Foreign Assets Control (OFAC).
Consequently, “all property and interests in property of these entities that are in the United States or in the possession or control of persons subject to U.S. jurisdiction continue to be blocked and must be reported to OFAC”, the statement added.
He named the companies as Grupo de Administración Empresarial SA (GAESA), FINCIMEX, and Kave Coffee S.A. . According to the statement, GAESA is the Cuban military’s largest company, which controls large portions of Cuba’s economy for the military’s benefit, adding that Cuban military-controlled FINCIMEX funnels remittances through channels that disproportionately benefit the Cuban military, while Kave Coffee S.A. is a coffee company domiciled in Havana and incorporated in Panama, but the US believes it is part of an international network of Cuban-owned companies maintained by the Cuban military and used to evade the U.S. embargo.
“The revenue generated from the Cuban military’s economic activities is used to entrench the Cuban military’s control, prop up the Cuban Communist Party’s power, oppress the Cuban people, and fund Cuba’s interference in Venezuela”, he said.
He added that today’s action demonstrates the United States’ long-standing commitment to ending economic practices that disproportionately benefit the Cuban government or its military, intelligence, and security agencies or personnel, at the expense of the Cuban people.
“ It also demonstrates the United States’ commitment to disrupting Cuba’s malign support for the illegitimate Maduro regime in Venezuela”, Pompeo said, adding that the United States will continue to support the Cuban people in their desire for a democratic government and respect for human rights, including freedom of religion, expression, and association. Until these rights and freedoms are respected, we will continue to hold the regime accountable.
