Cuba: US blockade caused losses for 4 billion dollars in a year

Sep 15, 2018 by

Cuba: US blockade caused losses for 4 billion dollars in a year
HAVANA, Cuba, Aug 24 (ACN) The economic, commercial and financial blockade imposed by the United States against Cuba caused losses to the national economy of more than 4 billion dollars during the last year, the Ministry of Foreign Affairs confirmed today.
The amount corresponds to the period between April 2017 and March 2018, during which the US hostile policy has intensified and continues with all rigor, according to the report published by Prensa Latina agency.
The accumulated damage over almost 60 years amounts to close to 934 billion dollars, taking into account the depreciation of the dollar against the value of gold in the international market.
This document supports a draft resolution proposed by Cuba to the United Nations General Assembly on the need to end the US economic, commercial and financial embargo against Cuba.
According to CubaMinrex, the U.S. government imposed a serious setback on relations with the island after President Donald Trump signed a Presidential Memorandum of National Security on Cuba policy in June 2017.
Five months later, the U.S. Departments of Commerce, Treasury and State issued new regulations and provisions to comply with the memorandum.
The measures further restricted the right of Americans to travel to Cuba and imposed additional obstacles to limited U.S. business opportunities on the island.
These new sanctions against Cuba caused a significant decrease in visits from the United States and further hindered the economic and commercial relations of Cuban companies with potential U.S. and third country partners.
At the same time, they constitute a massive, flagrant and systematic violation of the human rights of all the people of Cuba and qualify as an act of genocide, in accordance with the 1948 Convention on the Prevention and Punishment of the Crime of Genocide.
Abel González Alayón
Chief-Editor Language Department
Cuban News Agency

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