On Monday, May 9, Cuba denounced the continued extraterritorial application of the U.S blockade, after a British bank closed accounts of the British Cuba Solidarity Campaign (CSC) due to sanctions imposed on the island by the U.S.government.
In a press release Cuba’s permanent mission to the UN noted that the British bank The Co-operative Bank’s (Co-op Bank) Chief Executive Niall Booker recently confirmed in writing that the closure was due to “risk” arising from the sanctions imposed on the island by the United States Treasury Department’s Office of Foreign Assets Control (OFAC).
The delegation recalled that the Co-op Bank closed the accounts of the British Cuba Solidarity Campaign (CSC) in November 2015, citing among the reasons a change in its “risk appetite” and “global regulations”.
The delegation also noted that obeying the sanctions imposed by the United States Treasury Department’s Office of Foreign Assets Control (OFAC) is illegal under British and European Union law.
Both the British government and the European Union opposed the strengthening by the United States of the extraterritorial application of the blockade in the 1990s, through the Torricelli Law (1992) and the Helms-Burton Act (1996).