05 September 2006

Pullmantur Tour and Cruise Operators to drop Cuba Operation

This Pullmantur story illustrates

(1) that businesses subject to the long arm of the U.S. Economic Embargo comply with US regulators well before the U.S. Treasury department gets involved and

(2) that we learn about fact of Pullmatur's compliance only because the financial newswires report on significantly sized acquisitions, not on the impact to Cuba.

From the WSJ.com:

Miami-based Royal Caribbean plans to operate Pullmantur as an independent brand, alongside its Royal Caribbean International and Celebrity brands. However, as a result of the acquisition, Pullmantur will have to drop its Cuba operations, to comply with U.S. economic restrictions.