US govt fines DaimlerChrysler for breaking Cuba embargo - report

MADRID, 16 (AFX) - DaimlerChrysler AG (Xetra: 710000.DE) has been fined by the US for breaking the embargo on Cuba, Expansion reported.

The case was settled last month, after the German carmaker paid a fine thought to be 30,000 usd, the newspaper quoted US Treasury officials as saying.

The penalty was imposed because of exports by its Mexican subsidiary, DaimlerChrysler Vehiculos Comerciales, in 1999.

The officials said DaimlerChrysler paid the fine without admitting to any wrongdoing. It was unclear why the company was fined five years after the event.

Ties between the US and Germany were strained last year when Chancellor Gerhard Schroeder became one of the strongest critics of the invasion of Iraq.

Cubanet