US threat looms over foreign firms trading with Cuba

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The White House has broken with two decades of precedent in threatening to activate Title III of the Helms-Burton Act.

But that may come to an end as earlier this year, Trump fixed a 45-day suspension from February 1 that expires on March 17.

"I think the Trump administration is trying to create confusion... to scare off investment in Cuba," the European Union's ambassador to Havana, Alberto Navarro said."We're very worried about this," added Navarro. "We cannot accept that a country tries to impose its laws outside its own borders... that would be a return to the jungle."After years of thaw introduced under the administration of US president Barack Obama, Washington has returned to the language of the Cold War in the once-again frosty US-Cuba relationship.

"We encourage any person doing business in Cuba to reconsider whether they are trafficking in confiscated property and abetting this dictatorship," said US Secretary of State Mike Pompeo in January.For Cuban political scientist and former diplomat Jesus Arboleya, Title III is a"legal and political aberration" that will create new difficulties for Cuba to attract foreign investment.

Source: News Formal (newsformal.com)

 

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