Re:10% of Cubans have left Cuba in the last year
by Galanwe on Sunday July 21, 2024 @02:10AM
(#41022822)
US embargos are much, much more than just preventing Country <-> US trades.
- The US applies embargo transitively. That means any movement of fund related to an embargoed country and transiting to the US is illegal. In other words, you cannot use a US bank, mortgage, funding, accounting firm, etc for these trades.
- The US applies extra territotial rules to USD. Any trade involving USD, even if completely remote to the US, is under US jurisdiction.
These constraints make a US embargo a very, very high bar to do any kind of trade.
- The US applies embargo transitively. That means any movement of fund related to an embargoed country and transiting to the US is illegal. In other words, you cannot use a US bank, mortgage, funding, accounting firm, etc for these trades.
- The US applies extra territotial rules to USD. Any trade involving USD, even if completely remote to the US, is under US jurisdiction.
These constraints make a US embargo a very, very high bar to do any kind of trade.