Antigua wants $3.4 billion annually from U.S.

The Caribbean nation would like to see the sanctions imposed "shortly."

Antigua and Barbuda is asking the World Trade Organization for $3.4 billion in annual sanctions from the U.S., after the country failed to comply with the governing body ruled its online gambling ban in illegal.

The U.S. still has not met the terms set out by the WTO last year, when the organization agreed with Caribbean nation's assertion that October's Unlawful Internet Gambling Enforcement Act violated free trade agreements.

The country is now asking for commercial sanctions and the authority to target American trademarks and copyrights if the law isn't repealed, reports the Associated Press.

These sanctions would come into effect soon, unless the U.S. requests an arbitration panel, Antigua's finance minister told the news service.

The European Union is also seeking compensation from the U.S. for its ban on foreign gambling sites.

The argument is that the ban unfairly targets offshore casinos and has resulted in a loss of jobs in Antigua, which relied heavily on the Internet gambling industry and U.S. customers.

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