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  • US Embargo Hinders Cuba’s Economic Development - Cuban Official

    US Embargo Hinders Cuba’s Economic Development - Cuban Official

    At the meeting, Cuban Deputy Minister of Foreign Trade and Investment Deborah Rivas said that Cuba's normal economic development is hindered mainly by the U.S. blockade enforced for over half a century.

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    The Cuban deputy minister said the blockade had inflicted heavy damage to the island, amounting to 150.41 billion dollars. 

    Regarding the severe toughening of such policy during the COVID-19 pandemic, Rivas said it violates the multilateral trading system's principles and rules. 

    The official ascribed the vulnerability of the Cuban economy to the effects of the U.S. blockade. In this regard, the deputy minister said that Cuba's normal trade relations with countries worldwide suffer due to this act of economic warfare in times of peace.

     

     Along these lines, Rivas deplored the campaign of intimidation against banks, companies, and business people interested in engaging in business with Cuba. 

    She said that a policy that contradicts the WTO's purposes and principles must be condemned as it is detrimental to the development of people and the application of free trade focused on the people's welfare.  

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    Khamisi
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