Ericsson to pay US fine for breaking Cuba embargo
The Panamanian subsidiary of Sweden’s Ericsson has to pay a fine of 1.75 million dollars to the US Department of Commerce for violating export restrictions to Cuba.
Reuters says the settlement agreement reached Thursday shows the Panama branch of the world’s largest mobile network equipment maker sent broken equipment from Cuba to the United States for repair, after masking its origin.
The agreement says Ericsson de Panama “knew the exports…were unlawful because it had been informed by its parent company of the embargo placed on Cuba by the United States”.
Ericsson’s headquarters says the three employees involved were dismissed after the scheme was uncovered.