Posted on Tue, Oct. 26, 2004
White House stemming flow of remittances
President Bush has ordered that U.S. nationals be barred from sending money to Cuba through the transfer company SerCuba.
BY PABLO BACHELET
pbachelet@herald.com
WASHINGTON - The Bush administration announced Monday that it was barring U.S. nationals from using SerCuba, a money-transfer company, to send remittances to the island.
The Treasury Department added SerCuba to its list of Specially Designated Nationals, meaning that U.S. citizens and residents are forbidden from engaging in any transactions with the firm and that any assets belonging to the firm in the hands of U.S. nationals would be blocked.
SerCuba, Treasury said in a statement, operates under Cuban law and is supported by Cimex, a state-run trading company.
SerCuba allows people subject to U.S. jurisdiction to send cash to Cuba via third countries or through its website ( www.sercu ba.com), according to the Bush administration.
(snip/...)
http://www.miami.com/mld/miamiherald/10014046.htm(Free registration is required)