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Pompeo extends ban on U.S. lawsuits against foreign firms in Cuba
Source: Reuters
BUSINESS NEWS APRIL 3, 2019 / 6:54 PM / UPDATED AN HOUR AGO
Pompeo extends ban on U.S. lawsuits against foreign firms in Cuba
WASHINGTON (Reuters) - U.S. Secretary of State Mike Pompeo on Wednesday extended by two weeks to May 1 a ban on U.S. lawsuits against foreign firms doing business in Cuba.
He did not give a reason for the extension.
The administration of President Donald Trump announced on March 4 it would allow lawsuits by U.S. citizens against dozens of Cuban companies on Washington’s blacklist.
However, it stopped short of the more severe step of allowing legal action against foreign firms who had used property confiscated by the Cuban government since the 1959 revolution - though it left the door open to doing so in the future.
-snip-
A complete lifting of the ban could let potentially billions of dollars in legal claims move forward in U.S. courts and likely antagonize Canada and European partners, whose companies have significant business holdings in Cuba.
-snip-
Pompeo extends ban on U.S. lawsuits against foreign firms in Cuba
WASHINGTON (Reuters) - U.S. Secretary of State Mike Pompeo on Wednesday extended by two weeks to May 1 a ban on U.S. lawsuits against foreign firms doing business in Cuba.
He did not give a reason for the extension.
The administration of President Donald Trump announced on March 4 it would allow lawsuits by U.S. citizens against dozens of Cuban companies on Washington’s blacklist.
However, it stopped short of the more severe step of allowing legal action against foreign firms who had used property confiscated by the Cuban government since the 1959 revolution - though it left the door open to doing so in the future.
-snip-
A complete lifting of the ban could let potentially billions of dollars in legal claims move forward in U.S. courts and likely antagonize Canada and European partners, whose companies have significant business holdings in Cuba.
-snip-
Read more: https://www.reuters.com/article/us-usa-cuba/pompeo-extends-ban-on-u-s-lawsuits-against-foreign-firms-in-cuba-idUSKCN1RF2UB
