Cuba says US sanctions are blocking its efforts to open the economy to private investment
Cuban officials say new U.S. penalties are scaring off investors and worsening fuel and electricity shortages as the island seeks more private investment.
- Ambassador Ernesto Soberón Guzmán stated on April 23 that U.S. sanctions are the primary barrier to Cuba's economic opening, worsening electricity shortages and deterring private and foreign investment.
- State Marco Rubio justified the ongoing pressure, stating The United States is prepared "to do what we can do to effectuate a positive change in Cuba because it directly impacts our national security."
- In late June, the Trump administration sanctioned five state companies, including three linked to GAESA, which is believed to command nearly 40% of Cuba's gross domestic product.
- The United States imposed an oil blockade in January on top of a decades-old embargo, compounding blackouts and deepening shortages in medicine and food across the island.
- State Department officials confirmed new sanctions will arrive every couple of weeks to close off "escape valves," signaling sustained pressure aimed at changing Cuba's political system.
24 Articles
24 Articles
Associated Press News
Cuba says US sanctions are blocking its efforts to open the economy to private investment
The United States has demanded that Cuba open up to private investment, and Cuba has passed sweeping reforms to encourage just that.
Reforma
eldiariodechihuahua.mxThe Cuban Council of State approved four decrees to reform companies, contracts, customs and security in the face of the economic crisis.
The regulations improve business autonomy, road safety, state tendering processes and customs regulations.
The United States has demanded that Cuba open up to private investment, and Havana has approved far-reaching reforms to promote it. Therefore, Cuba’s ambassador to the United Nations maintains that he wants to know why Washington continues to accumulate sanctions that hinder the economic opening it has been seeking for decades.
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