From Liechtenstein to Hong Kong: How Cuba uses shell companies to thumb its nose at embargo

[Disir]

A generic-sounding company headquartered in the tax haven of Liechtenstein has for the past 37 years served as the center of global shipping operations for the Cuban government, functioning under the radar while skirting a six-decade trade embargo, an investigation by the Miami Herald/el Nuevo Herald and McClatchy shows.

When incorporated in 1984 in the principality of Liechtenstein, Acemex Management Company Limited was created as a means of survival. It grew into a business model, has been described as the work of a genius and has proved enduring.

A new Miami Herald/el Nuevo Herald investigation reveals the network of hidden shell companies and secretive jurisdictions that allowed Fidel and Raúl Castro and now their military successors to borrow money and to buy, sell and charter the ships that bring in chemicals, fuel and construction supplies needed to build the growing tourism sector and export minerals.
How Cuba thumbs its nose at the U.S. embargo | Miami Herald

That's one way around it. The embargo is stupid.

 

[Dont Taz Me Bro]

Well, it's not working very well because the Cuban people are poorer than shit. One good thing Biden can do is lift the restrictions that Trump restored.

 

[Toddsterpatriot]

A generic-sounding company headquartered in the tax haven of Liechtenstein has for the past 37 years served as the center of global shipping operations for the Cuban government, functioning under the radar while skirting a six-decade trade embargo, an investigation by the Miami Herald/el Nuevo Herald and McClatchy shows.

When incorporated in 1984 in the principality of Liechtenstein, Acemex Management Company Limited was created as a means of survival. It grew into a business model, has been described as the work of a genius and has proved enduring.

A new Miami Herald/el Nuevo Herald investigation reveals the network of hidden shell companies and secretive jurisdictions that allowed Fidel and Raúl Castro and now their military successors to borrow money and to buy, sell and charter the ships that bring in chemicals, fuel and construction supplies needed to build the growing tourism sector and export minerals.
How Cuba thumbs its nose at the U.S. embargo | Miami Herald

That's one way around it. The embargo is stupid.

And their economy still sucks ass.

 

[Darkwind]

Well, it's not working very well because the Cuban people are poorer than shit. One good thing Biden can do is lift the restrictions that Trump restored.

Why?

Why is it that people continue to think that Communist/Socialist/Marxist countries will allow an open and free market to beneft the ordinary citizen?

If the restrictions were lifted, the people of Cuba would see no benefit from it.

 

[AMart]

A generic-sounding company headquartered in the tax haven of Liechtenstein has for the past 37 years served as the center of global shipping operations for the Cuban government, functioning under the radar while skirting a six-decade trade embargo, an investigation by the Miami Herald/el Nuevo Herald and McClatchy shows.

When incorporated in 1984 in the principality of Liechtenstein, Acemex Management Company Limited was created as a means of survival. It grew into a business model, has been described as the work of a genius and has proved enduring.

A new Miami Herald/el Nuevo Herald investigation reveals the network of hidden shell companies and secretive jurisdictions that allowed Fidel and Raúl Castro and now their military successors to borrow money and to buy, sell and charter the ships that bring in chemicals, fuel and construction supplies needed to build the growing tourism sector and export minerals.
How Cuba thumbs its nose at the U.S. embargo | Miami Herald

That's one way around it. The embargo is stupid.

That is much more about sanctions and not a shipping embargo where goods from the US can't be shipped/sold in Cuba. 2 very different items.