US Embargo Costs Cuba Economy over $1 Trillion
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Experts on the Cuban economy have recently announced that the country has been consistently suffering from a ‘systematic worsening’. According to Cuba, the problem is the fault of America and the US embargo. Since Washington imposed sanctions in 1960 they have robbed Cuba of approximately $1.1 trillion dollars (considering the depreciation of the dollar against gold). Even now, the blockade the US holds against Cuba remains firmly in place, and harassment against third-country banks and firms seeking business with Cuba increases.
Experts on the Cuban economy have recently announced that the country has been consistently suffering from a ‘systematic worsening’. According to Cuba, the problem is the fault of America and the US embargo. Since Washington imposed sanctions in 1960 they have robbed Cuba of approximately $1.1 trillion dollars (considering the depreciation of the dollar against gold). Even now, the blockade the US holds against Cuba remains firmly in place, and harassment against third-country banks and firms seeking business with Cuba increases. The message given from the Deputy Foreign Minister for Cuba, Abelardo Moreno, argued that:
* There has never been such a ‘vile violation’ of the rights of an entire people.
* The persecution has become a serious financial war.
* Washington has pursued ’implacable persecution’ of the country’s financial transactions.
* Perhaps Cuba should allow its people to be free rather than complain!
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Cuba Persecutes its Own People
Between April of 2013, and June of this year (2014) alone, the country is estimated to have suffered damage equaling approximately $3.9 billion. If the embargo had not been in place, Cuba stood to earn over $200 million simply through the sale of cigars and rum to US customers. The embargo has also damaged tourism as a result of impediments imposed on US citizens travelling to the island.
The Impact on Ordinary People
It isn’t just the economy that is suffering serious damage; the US is also preventing Cuba from providing necessary and basic services to the population, including healthcare and education. According to figures, approximately 22,875 special-needs students have been affected by the US blockade. When it comes to healthcare, the foreign minister said that there is no figure capable of estimating the costs that have been incurred as a result of no access to necessary technology and medications.
This is all innuendo and propaganda. Cuba is the one killing and destroying its own country and has been doing so for decades. America does not cooperate with communist countries and Mexican and Canada are just fine with that.
The embargo has also been blamed for the lack of access to reliable Internet on the island as the United States has created something of an obstacle when it comes to companies accessing broadband services. This is another fallacious accusation. Cuba does not want its population to have access to the truth and to see the light! America would give the Internet to Cuba uncensored if the Cuba government allowed it. Dictators and oppressive regimes across the globe despise the Internet for this very reason.
Obama Actually does Something Right
At this point, the UN general assembly, which currently lacks the power to enforce any possible resolution, has requested that the blockade be ended after seriously affecting the island for decades now. However, in spite of this, President Barack Obama recently signed yet another extension for the embargo on Cuba. The extension of the embargo was based on an act created in 1917, called the ‘Trading with the Enemy Act’.
The act was established in an attempt to restrict the amount of trade opportunities that existed with countries that had been hostile towards the United States in the past. This is only logical and self-preservation trumps the UN’s feelings.
At this point, it is impossible to foresee whether Cuba will be able to overcome its financial problems and survive in the economic climate under the continuing effects of the US embargo. However, the forecast, according to experts, does not look good.
