Annexes to COM(1996)420 - Protection against the effects of the application of certain legislation of certain third countries, and actions based thereon or resulting therefrom - Main contents
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| dossier | COM(1996)420 - Protection against the effects of the application of certain legislation of certain third countries, and actions based ... |
|---|---|
| document | COM(1996)420  |
| date | November 22, 1996 |
LAWS, REGULATIONS AND OTHER LEGISLATIVE INSTRUMENTS (1) referred to in Article 1
COUNTRY: UNITED STATES OF AMERICA
ACTS
1. 'National Defense Authorization Act for Fiscal Year 1993`, Title XVII 'Cuban Democracy Act 1992`, sections 1704 and 1706
Required compliance:
The requirements are consolidated in Title I of the 'Cuban Liberty and Democratic Solidarity Act of 1996`, see below.
Possible damages to EU interests:
The liabilities incurred are now incorporated within the 'Cuban Liberty and Democratic Solidarity Act of 1996`, see below.
2. 'Cuban Liberty and Democratic Solidarity Act of 1996`
Title I
Required compliance:
To comply with the economic and financial embargo concerning Cuba by the USA, by, inter alia, not exporting to the USA any goods or services of Cuban origin or containing materials or goods originating in Cuba either directly or through third countries, dealing in merchandise that is or has been located in or transported from or through Cuba, re-exporting to the USA sugar originating in Cuba without notification by the competent national authority of the exporter or importing into the USA sugar products without assurance that those products are not products of Cuba, freezing Cuban assets, and financial dealings with Cuba.
Possible damages to EU interests:
Prohibition to load or unload freight from a vessel in any place in the USA or to enter a USA port; refusal to import any goods or services originating in Cuba and to import into Cuba goods or services originating in the USA, blocking of financial dealings involving Cuba.
Title III and Title IV:
Required compliance:
To terminate 'trafficking` in property, formerly owned by US persons (including Cubans who have obtained US citizenship) and expropriated by the Cuban regime. (Trafficking includes: use, sale, transfer, control, management and other activities to the benefit of a person).
Possible damages to EU interests:
Legal proceedings in the USA, based upon liability already accruing, against EU citizens or companies involved in trafficking, leading to judgments/decisions to pay (multiple) compensation to the USA party. Refusal of entry into the USA for persons involved in trafficking, including the spouses, minor children and agents thereof.
3. 'Iran and Libya Sanctions Act of 1996`
Required compliance:
Not to invest in Iran or Libya any amount greater than USD 40 million during a period of 12 months that directly and significantly contributes to the enhancement of the Iranian or Libyan ability to develop their petroleum resources. (Investment covering the entering into a contract for the said development, or the guaranteeing of it, or the profiting therefrom or the purchase of a share of ownership therein.)
NB: Investments under contracts existing before 5 August 1996 are exempted.
Respect of embargo concerning Libya established by Resolutions 748 (1992) and 883 (1993) of the Security Council of the United Nations (2).
Possible damages to EU interests:
Measures taken by the US President to limit imports into USA or procurement to USA, prohibition of designation as primary dealer or as repository of USA Government funds, denial of access to loans from USA financial institutions, export restrictions by USA, or refusal of assistance by EXIM-Bank.
REGULATIONS
1. 1 CFR (Code of Federal Regulations) Ch. V (7-1-95 edition) Part 515 - Cuban Assets Control Regulations, subpart B (Prohibitions), E (Licenses, Authorizations and Statements of Licensing Policy) and G (Penalties)
Required compliance:
The prohibitions are consolidated in Title I of the 'Cuban Liberty and Democratic Solidarity Act of 1996`, see above. Furthermore, requires the obtaining of licences and/or authorizations in respect of economic activities concerning Cuba.
Possible damages to EU interests:
Fines, forfeiture, imprisonment in cases of violation.
(1) Further information with regard to the aforementioned laws and regulations can be obtained from the European Commission, Directorate General I.E.3, Rue de la Loi/Wetstraat 200, B-1049 Brussels (fax: (32-2) 295 65 05).
(2) See Community implementation of those Resolutions through Council Regulation (EC) No 3274/93 (OJ No L 295, 30. 11. 1993, p. 1).