Cuba has lost over $4 billion over the past 12 month due to the United States' sanctions policy against Havana, Cuban Ambassador to Russia Gerardo Penalver Portal said on Monday.
MOSCOW (Pakistan Point News / Sputnik - 10th September, 2018) Cuba has lost over $4 billion over the past 12 month due to the United States' sanctions policy against Havana, Cuban Ambassador to Russia Gerardo Penalver Portal said on Monday.
"Over the past year of the [US] blockade policy, Cuba has suffered losses of over $4 billion," Penalver told a press conference.
The diplomat emphasized that Havana would continue demanding that the economic, trade and financial blockade by Washington be completely lifted.
"On October 31, 2018, the Cuban government will condemn the continuation of this policy and will again present a draft resolution [calling for the US sanctions to be scrapped] to the UN General Assembly," the ambassador stated.
The United States first imposed an arms embargo on Cuba in 1958. The embargo was followed by the introduction of restrictions in various other sectors. They include sanctions on financial transactions, trade, travel, among others.
Cuba has repeatedly submitted its resolutions to the United Nations calling for the embargo to be lifted.
The year 2015 marked rapprochement between Washington and Havana when the two nations restored diplomatic ties under the administration of then US President Barack Obama. A year later, the United States, which had repeatedly voted against removing the embargo, abstained from the United Nations' vote on the issue for the first time.
In 2017, the administration of US President Donald Trump announced a U-turn in the US policy toward Cuba, opting to retain the embargo on the Caribbean nation.
