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LatinNews Regional Monitor: Caribbean & Central America - 5 March 2019

In brief: Cuba

* US Secretary of State Michael Pompeo has announced that the US government is extending the suspension of Title III of the 1996 Helms-Burton Act that establishes the economic embargo on Cuba for 30 days but with an exception that would allow US citizens to sue companies that deal with property confiscated by the Cuban state after the 1959 revolution. The decision means that US citizens, including Cuban-Americans, can now bring lawsuits against firms that acquired or are exploiting assets that were arbitrarily seized by the Cuban state from their original owners. The exception only applies for Cuban firms included in a US blacklist of enterprises that have links to the Cuban government or government officials. However, from April any firms including foreign firms that may have acquired or currently exploit seized assets could also be liable, which potentially includes hundreds of foreign firms (mostly European) that operate in Cuba, unless the suspension is extended.

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