Cuba Reports Economic Damage from 60 Years of U.S. Blockade

The U.S. trade embargo against Cuba, imposed in 1962, has caused an estimated $154 billion in damages to the island's economy, stated Bruno Rodríguez Parrilla, the country’s foreign minister, during a report presentation at the Ministry of Foreign Affairs on Wednesday. According to TASS, the minister said, "Over the course of six decades, the total damage amounts to $154.217 billion at current prices." He added, "The blockade reached an unprecedented level during President Donald Trump’s administration, and unfortunately, President Joseph Biden’s current policy towards Cuba is no different from that of the Republicans; there has been no change."

Rodríguez noted that in the first 14 months of the new administration in Washington, the economic blockade has caused damages amounting to $6.364 billion. The U.S. severed diplomatic relations with the island nation in 1961 in response to the nationalization of American properties. On February 3, 1962, Washington announced the trade embargo against Cuba.

Since 1992, Cuba has submitted an annual draft resolution to the UN General Assembly calling for the end of the U.S. embargo. The document has consistently received support from the overwhelming majority of member countries of the global organization.