Sanctions in Latin America

According to an estimate made by the United Nations in 2018, since it began the US financial and trade embargo has cost Cuba over US$130bn in lost revenue. By mid 2024, six decades-plus after the initial imposition of sanctions by the United States, three very basic things seemed to be true. First, sanctions have deeply and adversely affected the Cuban economy. Second, they have not demonstrably eased the repressive political climate on the island or assisted any moves towards a more democratic system. Third, sanctions seem to have become ossified and politically self-sustaining. Amid the 2024 US election campaign, for example, none of the frontline candidates is proposing a review of their effectiveness or any kind of fundamental reset.

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