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Submission + - Cuba calculates cost of 54yr US embargo at $1.1tn

ltorvalds11 writes: Cuba says its economy is suffering a “systematic worsening” due to a US embargo, the consequences of which Havana places at $1.1 trillion since Washington imposed the sanctions in 1960, taking into account the depreciation of the dollar against gold.
“There is not, and there has not been in the world, such a terrorizing and vile violation of human rights of an entire people than the blockade that the US government has been leading against Cuba for 55 years,” Cuban Deputy Foreign Minister Abelardo Moreno told reporters.
He also blamed the embargo for the difficulties in accessing internet on the island, saying that the United States creates an obstacle for companies providing broadband services in Cuba. Additionally, he said that the area is one of the "most sensitive" to the embargo, with economic losses estimated at $34.2 million. It is also the sector that has fallen "victim of all kinds of attacks" by the US, as violations of the Cuban radio or electronic space “promote destabilization" of Cuban society, the report notes.
The damage to Cuban foreign trade between April 2013 and June 2014 amounted to $3.9 billion, the report said. Without the embargo, Cuba could have earned $205.8 million selling products such as rum and cigars to US consumers.
Barack Obama last week signed the one-year extension of the embargo on Cuba, based on the Trading with the Enemy Act of 1917, created to restrict trade with countries hostile to the US.
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Cuba calculates cost of 54yr US embargo at $1.1tn

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