Talk about a Cuban Export Crisis….CWT B.V., a Dutch travel agency, has been fined $5.9M by the U.S. government for violating the trade embargo to Cuba. CWT’s violations took place from August 8, 2006 to November 28, 2012 and involved trips to Cuba by 44,430 people.
But why, you might ask, is a Dutch company getting fined by the U.S. government? In 2006, CWT became majority-owned by U.S. entities and thus subject to the U.S. Trading With the Enemy Act. CWT continued doing business with Cuba, but without obtaining the necessary licenses issued by Treasury’s Office of Foreign Assets Control (OFAC).