Cuba: Trump’s Cuba policy causes billions in losses

Cuba: Trump’s Cuba policy causes billions in losses

Cuba has suffered the greatest economic losses to date due to US sanctions. Trump had previously ended Barack Obama’s overtures.

According to data from Havana, US sanctions cost Cuba 5.57 billion US dollars within one year. This sum, which is the equivalent of around 4.71 billion euros, was lost to the Caribbean island between April 2019 and March 2020 due to the economic blockade of the USA, said Foreign Minister Bruno Rodríguez on Thursday evening (local time) on state television.

Trumps stops rapprochement with Cuba

He presented a report from his department on the effects of the US blockade. The losses are the highest in a year so far and $ 1.226 billion higher than in the same period a year earlier.

Under President Donald Trump, the United States stopped its hesitant rapprochement with Cuba during the tenure of his predecessor Barack Obama and withdrew most of the easing of the economic embargo against the socialist island nation.

Washington justifies the economic pressure on Cuba with the suppression of the Cubans by its own government. Cuba curtails the human rights of its citizens. In addition, Cuba – where the Communist Party is the only one authorized – supports the “illegitimate” government of Nicolás Maduro in Venezuela.

Trump has recognized Maduro’s adversary Juan Guaidó as interim president. Many Cuban exiles live in the US state of Florida, which is particularly competitive in the current presidential election.

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Author: Killian Jones
Graduated From Princeton University.He has been at the USTV since 2017.
Function: Chief-Editor

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