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World · Latin America · published 2026-09-27 · via Rio Times

Cuba Blames US Sanctions for Slowing Private-Sector Reforms

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Image via Rio Times

A senior Cuban diplomat said US sanctions are slowing Havana's 176-measure opening to private and market activity. He told Bloomberg that reducing US pressure would make the reforms truly permanent. US Secretary of State Marco Rubio said no one would invest under Cuba's current model.

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Cuba's private sector was only legalized for small firms in 2021, and this June lawmakers approved 176 measures to broaden private and market activity. The island, a one-party state of fewer than 10 million people located 90 miles from Florida, has operated under a US trade embargo for over six decades. Cuban officials are in New York for the UN General Assembly, where President Trump labeled the island a failed state, and Washington imposed fresh sanctions this month.

Deputy Foreign Minister Carlos Fernández de Cossío, who manages US relations, told Bloomberg Television on September 25 that sanctions are impeding the reforms. He said easing pressure would make the changes "truly irreversible." US Secretary of State Marco Rubio countered that no one would invest under Cuba's current model. US law still prohibits most American trade and investment, while blackouts and fuel shortages persist.

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Cuba legalized small private firms only in 2021, and this June parliament approved 176 measures to widen private and market activity. The one-party state of under 10 million people, 90 miles from Florida, has lived under a US trade embargo for more than 60 years. Cuban diplomats are in New York for the UN General Assembly, where President Trump called the island a failed state, and Washington added new sanctions this month.

Deputy Foreign Minister Carlos Fernández de Cossío, who handles US re

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