United States extends the trade embargo against Cuba by one year

U.S. President Donald Trump extended trade restrictions on Cuba until 14 September 2021, as well as his powers under the embargo. According to the White House head, this decision “is in the national interest of the United States.

The U.S. trade, economic and financial embargo against Cuba has been in place for over half a century. In late 2014, a thaw began in relations between Washington and Havana. Then, former U.S. President Barack Obama and Cuban leader Raul Castro announced the restoration of diplomatic relations. Despite this, the U.S. side extended the sanctions, but promised that they would definitely be lifted under the next president of the United States.

However, in 2017 Trump announced a tougher policy towards Havana. He also threatened to break the agreements concluded by Obama as part of the normalization of relations if Cuba does not make efforts to improve the lives of its citizens.

In August 2018, the Cuban Foreign Ministry published a report that the Caribbean economy suffered $134.5 billion in damages during the entire period of the embargo, but if measured against the depreciation of the dollar against gold, that figure would be $933 billion.