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Reality is more complicated. Generally in order to trade with Cuba or Iran you do have to use financial instruments to insulate yourself. Siemens did not sell
by sudosysgen 5y ago
Reality is more complicated. Generally in order to trade with Cuba or Iran you do have to use financial instruments to insulate yourself.
Siemens did not sell centrifuges to Iran when it was during the full embargo. It did so earlier. Even then, sales of this equipment to Iran are done with coordination with the EU that does the footwork to insure the companies and avoid sanctions.
- Turing_Machine 5y agoCan you show me on the Canadian Trade Commissioner site where it suggests that businesses need to "insulate themselves"?
- sudosysgen 5y agoWhy do I need to? It's well documented that the US has secondary sanctions on Cuba : https://www.eversheds-sutherland.com/global/en/what/articles/index.page?ArticleID=en/Competition_EU_and_Regulatory/us-lifts-cuba-sanctions-100519 https://www.eversheds-sutherland.com/global/en/what/articles... The Canadian government will in effect compensate you for these secondary sanctions though.
- Turing_Machine 5y ago> Why do I need to? Because you're the one making the claim. You claimed that you need "financial instruments" to "insulate" yourself. Do you have an example of this or not? > It's well documented that the US has secondary sanctions on Cuba 1) That's about private lawsuits, not government sanctions, "secondary" or otherwise. 2) It only applies to people who directly traffic in confiscated U.S. property, not to generic trade with Cuba. 3) No one has ever successfully pressed a claim or collected any compensation under that statute.