[News] US Blockade Causes Cuba Losses of $5 Billion Per Year

[Anti-Imperialist News]

telesurenglish.net 
<https://www.telesurenglish.net/us-blockade-caused-cuba-losses-of-5-billion-per-year/> 



  US Blockade Causes Cuba Losses of $5 Billion Per Year

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Poster of the campaign against the U.S. blockade, 2024. X/ @EmbaCuba_Surina

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September 12, 2024


    The damage caused to the Cuban people by Washington’s foreign policy
    amount to about US$14 million per day.

On Wednesday, Cuban Foreign Affairs Minister Bruno Rodriguez published a 
report showing that the U.S. blockade caused his country damages of over 
US$5 billion between March 2023 and February 2024.

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“The blockade caused material damages to Cuba estimated at US$5 billion, 
representing an increase of US$189 million compared to the figure 
reported in last year’s report,” the Cuban report stated.

Each year, Cuba presents a report called “The Necessity of Ending the 
Economic, Commercial, and Financial Blockade Imposed by the United 
States Against Cuba.” The purpose of this document is to provide updated 
information for United Nations member countries to take a stance on U.S. 
sanctions.

“If the blockade had not existed, Cuba’s GDP at current prices would 
have grown by around 8 percent in 2023. These data show that the current 
challenges facing Cubans would be easier to solve if Cuba could access 
the important resources that the U.S. blockade takes away from it,” the 
report states.

Among the factors contributing to the Cuban economic crisis, the report 
points to U.S. arbitrary sanctions, difficulties in recovering 
production and tourism, inflation and shortages. After an 11 percent 
drop in GDP in 2020, the Cuban economy barely grew by 1.3 percent in 
2021 and 2 percent in 2022. However, the Cuban GDP then contracted by 2 
percent in 2023.

Imposed during the Cold War, U.S. sanctions aim to pressure for a change 
in Cuba’s political model. During Barack Obama’s presidency, the United 
States reestablished diplomatic relations with Cuba. However, his 
successor, Donald Trump, implemented more intense sanctions, which 
remain in place as President Joe Biden has not reversed them.

In the 2023 United Nations meetings, 187 countries supported the removal 
of sanctions against Cuba, while the United States and Israel opposed 
lifting them, and Ukraine abstained from voting. According to the latest 
Cuban report, the losses caused by the U.S. blockade amount to about 
US$14 million per day, which equals US$420 million per month.

*/teleSUR/ JF Source: Minrex/*

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