You are here: Home » Economy & Policy » News
Business Standard

US embargo on Cuba prevented Indian cos from exporting medicines: Guterres

SBI and at least four other banks have refused to carry out transactions to enable the companies to export to Cuba

IANS  |  United Nations 

Approval for generics drug up but US business shrinks for home firms

The is preventing Indian companies from sending medicines and to the island nation, according to Antonio

In his annual report to the on the US embargo on Cuba, he said that the of (SBI) and at least four other banks have refused to carry out transactions to enable the companies to export to that country.

The report figured in last week's discussions on against

By an overwhelming majority of 189 to two, the on November 1 passed a resolution crticising the embargo and asking to lift it.

In his report said that in February, the Indian company had refused to ship levofloxacin directly to because its "would not authorise the payments made by Cuba since the shipping documents supporting the payment had a country under embargo as the final destination".

Levofloxacin is a drug used to treat pneumonia, bacterial skin infections, bronchitis and other diseases, according to the report.

The Ahmedabad-based said on its website that it manufactures "intravenous antibiotics including general and advanced molecules" like levofloxacin.

The reluctance of banks to handle payments related to Cuba has also affected a development project with a climate change dimension, said in the report.

It was reported in March that Technologies had said it could not export to Cuba equipment for a gasification plant that uses rice husks because five Indian banks had refused to carry out a transfer from the office of the (UNDP) in Cuba to it, he said.

The Vadodara-based company had reported that the refused to receive the UNDP payment "because the transaction is related to a project implemented in Cuba", the report said.

"It has been impossible to fulfill the payment to the supplier and the implementation of the project has been delayed."

It is "an ongoing development project that aims to implement measures to adapt to climate change in food production, a gasification plant that uses rice husks", the UN said.

Ankur Scientific says on its website that its technology converts various into that can be burned to produce for different uses.

has opposed the enacted after communists under Fidel Castro came to power in 1961.

Guterres said in his report that informed the UN that it "has consistently opposed any unilateral measure by countries that impinge on the sovereignty of another country. These include any attempt to extend the application of a country's laws extraterritorially to other sovereign nations".


First Published: Mon, November 05 2018. 09:30 IST