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Cuban Business May Cost Israeli Firm

July 16, 1996
See Original Daily Bulletin From This Date

Top executives and major shareholders in the Israeli agribusiness company BM may be barred from entering the United States.

The firm is slated to be formally notified that it is in violation of the Helms-Burton Act, which imposes sanctions on foreign firms profiting from assets seized from U.S. citizens and companies after the 1959 Cuban revolution.

U.S. officials said BM is financing sugar crops on land formerly owned by Americans.

Once notified, the State Department and the firm will discuss the charges. If BM is found to be “trafficking” in confiscated property, the U.S. will impose sanctions.

The travel ban extends to the immediate families of the company officials.

Last week, the United States imposed such sanctions on Sherritt International, a Canadian company.

BM is one of six firms to have received such warnings since Congress approved the measure in March.

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