Yeah… Notice that it specifically says US-interest companies… Not that it’s illegal to trade with Cuba themselves.
From your own link showing that it’s possible.
Companies should avoid making international transactions involving Cuba in USD, and instead use EUR or GBP. Major UK companies with interests in the US continue to do business successfully with Cuba.
I’m not saying it’s impossible. I’m saying it’s a chilling effect when the US can arbitrarily start blocking your financial transfers. International trade is typically done through USD. And trading with Cuba opens your company to US sanctions.
But honestly, just think about it for a second. which do you think is more likely? Cuba is completely incompetent and/or self isolating? Or the US blockade prevents Cuba from doing any significant amount of trade?
The US doesn’t block anything except for it’s own companies/interests to work with Cuba. That’s it.
And I don’t find it impossible for a country to be incompetent… Nor do I find it unreasonable for a country to be self-isolating.
The USA embargoing it certainly sucks for them. But that’s how it goes. But even to that point…
Despite the existence of the embargo, Cuba can, and does, conduct international trade with many countries, including many U.S. allies; however, US-based companies, and companies that do business with the US, which trade in Cuba do so at the risk of U.S. sanctions.[10] Cuba has been a member of the World Trade Organization since 1995.[11] The European Union is Cuba’s largest trading partner, and the United States is the fifth-largest exporter to Cuba (6.6% of Cuba’s imports come from the US).[12] The Cuban government must, however, pay cash for all food imports from the United States, as credit is not allowed.[13]
How so? The existence of trade does not disprove the US blockade. Your own selected quote even states that you risk US sanctions if you trade with Cuba. This is NOT referring to US companies.
The risk of US sanctions can create uncertainty and businesses, especially banks, sometimes find themselves caught between conflicting legal requirements. UK companies, small- and medium-sized enterprises (SMEs) in particular, have for example encountered problems in payments to/from Cuba being blocked by UK banks.
We recommend that companies with extensive US interests which are interested in doing business with Cuba seek independent legal advice. We advise potential investors to read the advisory notes regarding US regulations on the OFAC website.
The existence of trade does not disprove the US blockade.
Blockade != Embargo. Stop conflicting the 2. US does not sail ships to actively block incoming trades to Cuba.
Your own selected quote even states that you risk US sanctions if you trade with Cuba. This is NOT referring to US companies.
It is EXPLICITLY referring only to US companies, or companies with significant US interests (companies that work in USD). And by my own quote from earlier… 6.6% of imports to Cuba come from the USA.
Wonder how that’s possible when there’s a blockade! Can you at least admit that you’re wrong? Cuba CAN trade with any other country… Cuba CAN trade even with the USA. It CANNOT take or give credit in USD (which is the mechanism that blocks US interest companies typically) and cannot operate on Credit with ANY US company. So nothing would have stopped Cuba from purchasing the ventilators from a EU-based company. Considering that the USA literally OWNS all USD… it makes sense that they can control how it’s used and who can redeem it.
Not being able to trade in USD is a huge issue, as it means you are blocked from SWIFT. When it’s stated that you have to use a different currency, it means a whole different trading mechanism. Which may or may not exist/work for your business. And if the US decides to cut your access to SWIFT completely, then you’re effectively out of business.
You could argue that the US should not have this much power over world trade, and I would agree with you. But you’re not. You’re blaming the Cubans for not being able to buy the replacement parts they needed, because the US totally isn’t interfering with their trade. Not to mention the absolute inhumanity of this position. When the US suffered from hurrican Katrina, Cuba didn’t hesitate to offer aid. When Cuba’s main oxygen plant breaks during a pandemic? Apparently the American people show their humanity by cheering. And you feel this is just. I feel like you’re just being willfully obtuse at this point.
The rest of your points for the paragraph are moot.
You could argue that the US should not have this much power over world trade
It doesn’t. It has ultimate control over USD… Which other [foreign] companies choose to use.
You’re blaming the Cubans for not being able to buy the replacement parts they needed, because the US totally isn’t interfering with their trade.
Already proven that US does not.
When the US suffered from hurrican Katrina, Cuba didn’t hesitate to offer aid. When Cuba’s main oxygen plant breaks during a pandemic? Apparently the American people show their humanity by cheering.
What’s the point?
And you feel this is just.
I never said it was just. I never made ANY moral evaluation. Simply stated that it’s not the US’s job to perform this action. Castro can’t demand aid from the US. You can’t call it genocide.
Listing data for 2023 as proof of me lying. Cute. How about going back a couple of years? But no, I’m lying about everything, and Cuba not being able to buy parts they needed is totally their fault. I’m done with this. You can continue defending your murderous country in peace.
Here’s what the UK government says about it:
https://www.gov.uk/government/publications/overseas-business-risk-cuba/overseas-business-risk-cuba
Yeah… Notice that it specifically says US-interest companies… Not that it’s illegal to trade with Cuba themselves.
From your own link showing that it’s possible.
I’m not saying it’s impossible. I’m saying it’s a chilling effect when the US can arbitrarily start blocking your financial transfers. International trade is typically done through USD. And trading with Cuba opens your company to US sanctions.
But honestly, just think about it for a second. which do you think is more likely? Cuba is completely incompetent and/or self isolating? Or the US blockade prevents Cuba from doing any significant amount of trade?
The US doesn’t block anything except for it’s own companies/interests to work with Cuba. That’s it.
And I don’t find it impossible for a country to be incompetent… Nor do I find it unreasonable for a country to be self-isolating.
The USA embargoing it certainly sucks for them. But that’s how it goes. But even to that point…
So your original premise is still wrong…
How so? The existence of trade does not disprove the US blockade. Your own selected quote even states that you risk US sanctions if you trade with Cuba. This is NOT referring to US companies.
Blockade != Embargo. Stop conflicting the 2. US does not sail ships to actively block incoming trades to Cuba.
It is EXPLICITLY referring only to US companies, or companies with significant US interests (companies that work in USD). And by my own quote from earlier… 6.6% of imports to Cuba come from the USA.
Wonder how that’s possible when there’s a blockade! Can you at least admit that you’re wrong? Cuba CAN trade with any other country… Cuba CAN trade even with the USA. It CANNOT take or give credit in USD (which is the mechanism that blocks US interest companies typically) and cannot operate on Credit with ANY US company. So nothing would have stopped Cuba from purchasing the ventilators from a EU-based company. Considering that the USA literally OWNS all USD… it makes sense that they can control how it’s used and who can redeem it.
Not being able to trade in USD is a huge issue, as it means you are blocked from SWIFT. When it’s stated that you have to use a different currency, it means a whole different trading mechanism. Which may or may not exist/work for your business. And if the US decides to cut your access to SWIFT completely, then you’re effectively out of business.
You could argue that the US should not have this much power over world trade, and I would agree with you. But you’re not. You’re blaming the Cubans for not being able to buy the replacement parts they needed, because the US totally isn’t interfering with their trade. Not to mention the absolute inhumanity of this position. When the US suffered from hurrican Katrina, Cuba didn’t hesitate to offer aid. When Cuba’s main oxygen plant breaks during a pandemic? Apparently the American people show their humanity by cheering. And you feel this is just. I feel like you’re just being willfully obtuse at this point.
Cuba is not blocked from SWIFT. Currently only Iran and North Korea are blocked from SWIFT. So you’re lying. https://bank-code.net/country/CUBA-(CU).html
The rest of your points for the paragraph are moot.
It doesn’t. It has ultimate control over USD… Which other [foreign] companies choose to use.
Already proven that US does not.
What’s the point?
I never said it was just. I never made ANY moral evaluation. Simply stated that it’s not the US’s job to perform this action. Castro can’t demand aid from the US. You can’t call it genocide.
Listing data for 2023 as proof of me lying. Cute. How about going back a couple of years? But no, I’m lying about everything, and Cuba not being able to buy parts they needed is totally their fault. I’m done with this. You can continue defending your murderous country in peace.