alt Hacker NewsThe only embargo is from the US.
Canada and the EU trade fine with Cuba. Spain alone accounts for 20% of the trade.
In fact, both EU and Canada have regulations that prosecute any European and Canadian company that complies with foreign embargoes (Council Regulation (EC) No 2271/96 for Europe and Foreign Extraterritorial Measures Act for Canada).
Of course US can pull its gigantic economic and financial levers to out-out specific companies to choose "you either sell here, but don't sell in country X" like it has done with ASML, but it can only push so much.
US laws apply to US citizens and companies.
> US laws apply to US citizens and companies.
You're right. But trade in US Dollars with other countries need to go through US banks, which can be subject to prohibitions, which can be done by political motivation.
Also, the issue of the PetroDollar complicates things internationally as well. US throws a tantrum when small countries (or countries it can bully) trade Oil in other currencies. That is very important to keep themselves relevant and with some control over international trades.
Yet another aspect is that if any goods, regardless of who is selling it, contains more than 10% of components, technology, produced by a US company, such seller requires an US Export license to trade such goods with Cuba.
So it's not as simple as that.
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