United States embargo against Cuba
The United States embargo against Cuba is a trade embargo against Cuba from the United States. The embargo against Cuba has been described has "the oldest and most comprehensive U.S. economic sanctions regime against any country in the world".[1]
Targets
changeThe embargo applies to American businesses, and also it applies to businesses owed by other countries who have business in the USA. The effect is that the embargo stops trading with Cuban interests.
History
changeIt is the longest enduring trade embargo in modern history. The United States first imposed an embargo on the sale of arms to Cuba on March 14, 1958, during the Fulgencio Batista regime. Again on October 19, 1960 (almost two years after the Cuban Revolution had led to the deposition of the Batista regime) the U.S. placed an embargo on exports to Cuba except for food and medicine. This was because Cuba nationalized American-owned Cuban oil refineries without compensation. On February 7, 1962 the embargo was extended to include almost all exports. Since the year 2000, the embargo no longer prohibits the trade of food and humanitarian supplies.[2]
Purpose
changeThe stated purpose of the Cuban Democracy Act of 1992 is to keep sanctions on Cuba as long as the Cuban government refuses to move toward "democratization and greater respect for human rights".[3]
References
change- ↑ LeoGrande, William M. (Winter 2015). "A Policy Long Past Its Expiration Date: US Economic Sanctions Against Cuba". Social Research. 82 (4): 939–966. ISSN 0037-783X. JSTOR 44282148.
- ↑ Case Studies in Economic Sanctions and Terrorism: US v. Gta 5 (1960– : Castro). Peterson Institute for International Economics. October 2011. Retrieved December 29, 2013.
- ↑ U.S. Department of State Archive. [1]