Cuban President Miguel Díaz-Canel addressed the nation on TV, highlighting challenges from U.S. pressure and the Covid-19 pandemic.
He said the U.S. aims to divide the Cuban government and its people. The U.S. uses financial restrictions and increases existing sanctions to do this.
Until 2019, Cuba had some financial flexibility. Then, former U.S. President Donald Trump added more restrictions.
In January 2020, Trump put Cuba on a terrorism sponsor list, further limiting Cuba’s financing options.
According to a Cuban report, sanctions have cost the country over $154 billion in 60 years. From August 2021 to February 2022, Cuba lost around $3.8 billion due to these sanctions.
The United Nations will review a resolution to end U.S. sanctions on November 1 and 2.
Díaz-Canel said the Cuban government listens to public and expert opinions to solve the current crisis.
Small and medium businesses play a critical role in Cuba’s economy, he added.
He also spoke about other challenges Cuba faces. These include energy shortages, low farm productivity, and migration.
Despite these challenges, he remains confident in local development. The government continues to support social policies and vulnerable communities, he concluded.
Background
Cuba and the U.S. have a complex history dating back to the Cold War. After Fidel Castro’s rise to power, the U.S. imposed a trade embargo on Cuba.
This embargo has continued for over six decades, affecting Cuba’s economy deeply. Efforts to normalize relations gained momentum during Barack Obama’s presidency.
However, those efforts slowed down under Donald Trump’s administration.
Sanctions against Cuba aren’t limited to the U.S. Cuba also faces sanctions from other international entities.
Despite global calls to lift the embargo, the U.S. has largely kept it in place. These sanctions make it difficult for Cuba to engage in international trade and development fully.