US Caused $4.5 Billion In Losses To Cuba Over The Last Year

| Educate!
A photo of colonial buildings in old Havana, with many colorful old american cars driving along the road. By Patrik Bergstr for Getty Images

The U.S. economic blockade has caused over US$ 138.8 billion in losses to Cuba since the 1960s.

Cuba’s Foreign Minister Bruno Rodriguez on Friday presented a report on the impact caused by the U.S .blockade policy on the Cuban economy over the last year.

“The U.S. blockade against Cuba impacts, as never before, on the everyday life of every Cuban family, in every sector of our economy, in every social development project in the country,” Rodriguez said and anticipated that his country will insist on the elimination of such arbitrary policy before the international community.

“The U.S measures have a political motivation. Our Government will exercise its sovereignty and self-determination.”

On November 6, for the twenty-eighth occasion, Cuba will present to the United Nations General Assembly the draft resolution entitled “Need to End the Economic, Commercial and Financial Blockade Imposed by the United States of America against Cuba.”

This diplomatic initiative occurs in a context of growing aggressiveness against the Caribbean country. Over the last two years, U.S. President Donald Trump has strengthened a 60-year-old policy which attempts to use coercion instruments to overthrow Cuba’s democratic government.

As a result of the above, and as a side effect of the aggressions the U.S. is deploying against Venezuela, Cuba is going through a fuel shortage, as shipping and insurance companies feel threats and pressures from Washington.

Appreciated from a broader time perspective, however, the damage caused to Cuba is substantially greater and reaches billions of dollars.

Since the 1960s, the U.S. blockade has caused losses to Cuba of over US$138.8 billion measured at current prices, according to estimates from local authorities.

Accumulated damages amount to over US$933 billion in real terms, that is to say, taking into account the depreciation of the dollar against gold.

From April 2018 to March 2019, Trump’s new wave of sanctions brought about US$4.3 billion in direct, material damages, as the Cuban minister denounced.

“Over the last year, the resurgence of the blockade has continued to be the central pivot of the U.S. government policy towards Cuba, with more and more notable effects on its extraterritorial application,” Rodriguez recalled.

“The blockade policy continues to represent a brake for the development of the Cuban economic potential, for the implementation of the National Economic and Social Development Plan, for the achievement of the 2030 agenda and its sustainable development goals.”

The Republican administration’s resumed hostility towards Cuba began with the application of apparently small restrictions on U.S. citizens’ trips to the island.

On the first moment, licenses for passenger and recreational cruisers, authorizations for educational group visits, and licenses to private airplanes were removed.

Subsequently, however, punitive actions became tougher as the White House began to reinforce instruments aimed at halting foreign direct investment flows towards Cuba, a socialist country which has been attracting significant European investments in its tourism sector since the 1990s.

To obstruct new investments, Trump then activated Title III of the Helms-Burton Act, which allows U.S. nationals to file lawsuits before U.S. courts against countries, companies and persons who did business with companies or properties nationalized after the triumph of the Cuban Revolution in 1959.

If Cuba had received the income it ceased to receive as a result of US sanctions, its gross fomestic product would have grown by an average of 10 percent over the past 10 years, Minister Rodriguez denounced.

Although the damage is large,​​​​​​ the U.S. will get “no political concession from our government. They have failed for six decades and they will continue to fail.”

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  • Greeley Miklashek

    Everyday now, I am more and more ashamed to be an American living in Trumpistan. Our Mad King Donald is just the most extreme manifestation of Capitalist greed, but the GOP has been doing its work to subvert the principles of the Founders for generations, including the Cuba blockade. Follow the money! Corporate America has a long memory and never forgives an American nation that nationalizes its money machine. The amazing irony, of course, is just how successful the Cubans have been inspite of the ongoing economic war Washington and Wall Street have waged against them. Their healthcare system alone puts ours to shame and their reuse of 1950’s autos is simply amazing. They are blooming like a blessed flower, while we drown in all our unneeded junk piles. Go d does have a sense of humor. Viva Libre’!

  • ANTONIO

    Its not just Trump, honey, its capitalism since 1959. They simply will not allow a socialist country to exist, and yet it does. I visited for 10 years and have dear friends there. I exposed my pellejo by just going there- I could have easily gotten fired in the US, although I took care not to appear in any document. The Cubans helped by not stamping my passport. How is that US freedom? It was worth it. Cuba is wonderful- who cares if there is scarcity- the people, the beaches, the clean air and water are worth it. I would have retired there, except I would not have been able to access my pension. How is that US freedom? Cuba is far from being a dictatorship- it is the freest country in the area, freer by far than the US. The US is a dictatorship. Capitalism is a dictatorship run by a small number of Wall St billionaires. Cuba is socialist, meaning that all elections are run by the people, and those elected are answerable to the electorate. Not one (free) school has closed, not one (free) hospital has closed in all the attacks by the US. You get a booklet that gives you food for the month. It costs $5. You pay $7 a month for rent or payment on a house or apartment which you are buying. Your house can be transferred to your children. If you are working at a job that that warrants it, you get free trips abroad to attend conferences. Vacations are paid for by the Revolution. I could go on.

  • PETER CHILDS

    The minute our new President takes office in 2021 I pray that they will announce “The United States of America will immediately cease all “sanctions” that we have levied against other nations. Sanctions are intended only to cause pain; they are an act of war, and we will as of this date cease entirely to apply them. With deepest apologies for our past actions, we intend to prove from this moment on with our deeds, not just our words, that we will use our still tremendous resources to help, not dominate our fellow human beings.”