Foreign businesses at Cuba tourism fair defy new Trump sanctions
Source: Reuters
BUSINESS NEWS MAY 8, 2019 / 4:36 PM / UPDATED 3 HOURS AGO
Foreign businesses at Cuba tourism fair defy new Trump sanctions
Nelson Acosta
3 MIN READ
HAVANA (Reuters) - Foreign companies operating in Cubas tourism sector said at an industry fair this week they would continue investing in the Caribbeans largest island despite new U.S. sanctions designed to choke its already beleaguered economy.
The Trump administration said last month it was tightening U.S. travel restrictions on Communist-run Cuba and allowing U.S. citizens to bring lawsuits against foreign companies profiting from property taken from them after Cubas 1959 revolution.
The administration is seeking to pressure Cubas Communist government into giving up its support for embattled Venezuelan President Nicolas Maduro.
Its obviously a very awkward situation but we will keep on advancing, said Juan Antonio Montes, general director of the Spanish hotel group Barcelo, which has been based in Cuba for two decades.
Regarding the implementation of the long-dormant section of the 1996 Helms-Burton Act allowing U.S. lawsuits against companies using confiscated property, he said Barcelo would seek a legal way to be more protected.
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https://www.reuters.com/article/us-cuba-usa-tourism/foreign-businesses-at-cuba-tourism-fair-defy-new-trump-sanctions-idUSKCN1SE2NU