4/17, 4:15 PM (Source: TeleTrader)
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Pompeo: Cuba property law effective from May 2

Washington will allow lawsuits against foreign firms operating on properties which were seized from American citizens after the 1959 revolution in Cuba, United States Secretary of State Mike Pompeo (pictured) stated on Wednesday.

"The Trump administration will no longer suspend Title III effective May 2nd, the right to bring an action under Title III of the Libertad Act will be implemented in full," Pompeo said, adding Congress was already informed of the decision.

Alberto Navarro, European Union's ambassador to Cuba, previously criticized the decision, warning it will create "even more confusion for foreign investments, which help job creation and prosperity in the Caribbean country."

Breaking the News / MD