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4/16, 7:56 PM (Source: TeleTrader)
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US to allow lawsuits over property seized by Cuba - report

The administration of President Donald Trump is set to allow American nationals to file lawsuits in US courts against foreign companies which have made profits from allegedly trafficking in property of former US companies, or Cuban nationals who migrated to the US, seized by the regime of Cuba's then-President Fidel Castro, AFP reported on Tuesday, citing a senior US official.

This would require Washington to fully implement Title III of the Helms-Burton Act, a law passed in 1996 under President Bill Clinton, which allows such lawsuits to be initiated. However, Title III has never been triggered, as President Clinton soon after the law was adopted issued a waiver, preventing US nationals to exercise the right to seek compensation for the seized property, which has been extended every six months ever since, in order to avoid deterioration of relations with other countries.

Earlier, media reports emerged stating that the European Union is considering imposing economic penalties on US companies operating in Europe and even suing the US at the World Trade Organization if Washington decides to put the Act into full effect.

Breaking the News / GG