U.S. private property and assets expropriated by the Cuban government amount to the largest uncompensated taking of American property by any foreign government in the history of our country. Manufacturing facilities, sugar plantations, sugar mills and other agricultural properties, utilities, hotels, wholesale and retail commercial companies were seized by the Castro regime. In 1959 The Castro regime recognized the principle of compensation, and authorized the issuance of government bonds to the former owners, but no such bonds were ever issued and no offer of payment has been made since the properties were seized. The 1996 Helms-Burton Act makes US firms liable to lawsuits if they do business in Cuba on property confiscated from Cuban-Americans or US companies. This theft of property and Cubas refusal to live up to the promise of compensation will be an impediment to the establishment of trade and normal relations between the United States and Cuba.
Posted on: Sat, 10 Jan 2015 14:03:32 +0000
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