Monday, 23 September 2019 12:59 GMT

Cuba loses USD834b because of trade restrictions

(MENAFN) The Unites states has had its trade ban against neighboring Cuba for five decades, thus severely costing the small country USD834 billion, and it's still harming Cuba's development till this very day.

Moreover, in 2014-15, the United States continued to strengthen the economic and trade barrier against Cuba especially in the area of finance, by targeting its transactions, according to Cuban Foreign Minister.

However, U.S. President has recently declared that Washington and Havana had agreed to formally re-establish diplomatic relations and reopen embassies in an effort to normalize relations between the two nations.

"The reality is that the trade embargo persists and even now does not allow Cuba to export or import products or services from or to the United States," said the Cuban Foreign Minister.

Cuba loses USD834b because of trade restrictions

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