Cuba's Economy Lost $144Bln Due To US Embargo Since 1962 - President

Cuba's Economy Lost $144Bln Due to US Embargo Since 1962 - President

The damage from the US embargo on Cuba over six decades has totaled $144.4 billion, not counting the immeasurable suffering of the Cuban people, Cuban President Miguel Diaz-Canel said Friday

MEXICO CITY (Pakistan Point News / Sputnik - 04th February, 2023) The damage from the US embargo on Cuba over six decades has totaled $144.4 billion, not counting the immeasurable suffering of the Cuban people, Cuban President Miguel Diaz-Canel said Friday.

"The accumulated damage over six decades amounts to $144,413.4 million, (according to) the latest report on the losses incurred by the criminal embargo, which was officially declared on February 3, 1962. The suffering of the Cuban people cannot be measured," Diaz-Canel said on Twitter.

The US broke off diplomatic relations with Cuba in the 1960s, after which it announced a trade embargo against the island nation.

Former Democratic US President Barack Obama took steps to normalize bilateral relations with Cuba, but the policy was reversed by the administration of former Republican President Donald Trump, which leveled 243 additional economic sanctions on Cuba, tightened travel regulations and placed the island nation back on the list of countries sponsoring terrorism.

Current President Joe Biden promised that he would return Obama's policy on Cuba but has instead twice extended all restrictions against Cuba. In October 2022, Cuban Foreign Minister Bruno Rodriguez Parrilla said that Biden's years in power had already damaged the Cuban economy by over $6.3 billion.