British company Diageo and a Cuban state company create a joint venture to distribute Santiago de Cuba rum globally, in defiance of US sanctions.
ADVERTISEMENTIt's one of the most famous rums in Cuba and it's going global.
The British company Diageo and a Cuban state company announced the creation of a joint venture to distribute Santiago de Cuba rum.
The agreement is seen as a defiance of US sanctions but the general director of the new joint venture, Luca Cesarano, refutes this view.
"Diageo knows really well its obligations and has taken all the measures to guarantee that the regulations (referring to US regulations in Cuba) are not violated," said Cesarano.
The agreement comes at a time when the United States is ramping up sanctions on Cuba and seeks to prevent other countries from trading with the Caribbean nation. Cesarano underlines that they'll respect the terms of the US sanctions.
"At no time will people be involved if they are United States citizens, residents in the United States, those who operate in the United States or have a green card," added Cesarano "That is what the United States regulations require. And Diageo will respect the regulations."
Donald Trump's administration has increased economic sanctions against Cuba to push for a change in its political model.
Cuban rum is banned in the United States, but popular throughout Europe and other parts of the world.