New York, October 20th, 2023.- Cuba’s inclusion on the list of state sponsors of terrorism of the State Department of United States, has severe repercussions for the country’s economy, mainly in the banking/finance sector, by reinforcing the deterrent and intimidatory effects on third parties in their trading relations with Cuba.
On January 11, 2021, a few days before Donald Trump’s departure from the White House, the U.S. State Department announced the reinsertion of Cuba on the list of state sponsors of terrorism, on the basis of spurious arguments and without evidence. Biden administration has maintained that designation.
This inclusion is not only extremely damaging to trade but also undermines our ability to obtain financing to pay for supplies and other goods essential to the country’s development.
During March, 2022 and February, 2023, Cuba’s designation as a state that allegedly sponsors terrorism led to numerous firms and financial organizations abroad refusing to operate with Cuba, for fear of reprisals by the U.S. government, in particular, the Department of the Treasury.
Dozens of banks suspended operations with the country, including transfers for the purchase of food, medicines, fuel, materials, spare parts and other goods. As result of this, Cuba has had to incur substantial additional costs in obtaining these priority supplies.
Over 50 of our diplomatic missions abroad with the banks that have traditionally served them, a situation that affects the functioning and support of the various embassies and consulates. Also seriously affected is Cuba’s ability to pay its dues to various international and regional organizations.
Likewise, Cuba cannot purchase goods or technologies produced in third countries which have 10% or more U.S. components - another consequence of the inclusion on this list.
These and other negative effects provoked by the unjust inclusion of Cuba in the arbitrary list of States sponsors of terrorism are reflected in the Report of Cuba on Resolution 77/7 of the United Nations General Assembly entitled “Necessity of ending the economic, commercial and financial blockade imposed by the United States of America against Cuba”, which will be considered and voted next November 1st and 2nd.
Cuban Permanent Mission to United Nations