Díaz-Canel Denounces New US Restrictions on Cuban Private Businesses
· World · Hindustan Times, The Independent
Cuban President Miguel Díaz-Canel has accused the United States of hypocrisy for imposing new restrictions on the island's private sector while publicly advocating for private enterprise. The latest U.S. sanctions revoke permission for small Cuban business owners to maintain accounts in American banks, a move local analysts view as a significant setback for the country's nascent private market. These developments follow a June parliamentary reform package in Havana that granted private businesses greater autonomy, including the ability to hire over 100 workers and engage in direct foreign trade. Díaz-Canel rejected claims by U.S. President Donald Trump and Secretary of State Marco Rubio that Cuba is a failed state, despite the country facing a severe five-year economic crisis. The government maintains that these U.S. policies constitute an energy blockade that has worsened domestic blackouts and production declines.
Why it matters
The new U.S. banking restrictions directly hinder the financial operations of Cuban entrepreneurs, complicating their ability to trade and grow businesses amidst the island's ongoing economic crisis.
Read the original report — Hindustan Times
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