Cuba reports record economic losses due to U.S. embargo

Cuban Foreign Minister Bruno Rodriguez announced on Monday that the country faced record economic losses of approximately $8.1 billion between March 2025 and February 2026 due to the long-standing United States trade embargo. This figure represents a 7% increase in damages compared to the previous year. Rodriguez specified that these calculations exclude the additional negative impacts stemming from energy sector blockades implemented over the last seven months, as well as secondary sanctions introduced in May.

During a press conference in Havana, the minister stated that no negotiations are currently taking place between Havana and Washington. Despite the Trump administration's decision to double existing sanctions, Rodriguez indicated that while Cuba remains open to maintaining contact, there is no established agenda or timeline for future bilateral discussions. The Cuban government characterized the ongoing measures as a genocidal blockade that has severely hampered domestic oil production and overall economic stability.

Looking ahead, officials expect the negative economic impact to intensify in early 2026 as the full effects of the recent energy sector restrictions continue to manifest. The state of diplomatic relations remains stagnant with no immediate plans for de-escalation or dialogue.