Mr. Chair,
At the outset, allow me to congratulate you on your election to preside over this 16th session of the Commission. We thank UNCTAD for the presentation of the World Investment Report 2026.
As is evident from this report, the volume of capital being channelled to developing economies remains insufficient to meet their investment and infrastructure needs. The true objective we must pursue is to ensure that such investment flows contribute to increasingly inclusive and sustainable development, particularly in the Global South.
In this context, Unilateral Coercive Measures constitute today one of the main disruptions to the international investment environment, restricting the policy space of States. These measures, which are illegal and contrary to the Charter of the United Nations, discourage capital flows, erode confidence and hit the most vulnerable economies the hardest.
The situation faced by Cuba is a clear example of this reality. The United States blockade against Cuba is the most comprehensive and prolonged blockade known to humanity. This policy has intensified in recent months to extreme levels.
For more than seven months, Cuba has been subjected to a brutal energy siege which, in its effects, is tantamount to a naval blockade and is undoubtedly an act of war with the openly stated objective of regime change. It also constitutes collective punishment, causing suffering to the Cuban population.
Since 1 May, additional secondary and extraterritorial sanctions have been imposed on entities in third countries that trade with Cuba. Every week, Washington announces new measures, new sanctioned companies, and expands the list of Specially Designated Nationals and Blocked Persons maintained by the US Department of the Treasury.
Last week, the United States extended the Trading with the Enemy Act for another year, until September 2027. This is not merely an administrative procedure; it confirms that Washington remains intent on strangling an entire nation.
No country has the right to dictate with whom another State may trade. No power has the right to impose collective punishment for political purposes.
Cuba calls upon UNCTAD to fulfil its mandate and speak out on the impact of these measures, which are contrary to international law and the multilateral trading system.
Member States must act together. Permissiveness only perpetuates the hegemony of aggressors and the law of the strongest as an instrument of foreign policy.
Thank you very much.