And there are still those who believe you can negotiate with the Castro dictatorship

Via CBS News:

Cuba: U.S. embargo causes $1 trillion in losses blames the U.S. embargo for nearly a trillion dollars in losses to the island’s economy since it was imposed by President Kennedy in 1962.

Vice Foreign Minister Abelardo Moreno said that at current prices a conservative estimate of economic damages to the island up until December 2010 would be more than $104 billion. However, he added, if you take into consideration the extreme devaluation of the dollar against the price of gold on the international financial market during 2010, they would add up to nearly a trillion dollars.

Cuba will be presenting a resolution at the current U.N. General Assembly on the “Necessity of ending the economic, commercial and financial blockade imposed by the United States of America against Cuba.”

This will be the 20th time the same resolution is put to a vote there. It has repeatedly been approved by the international community. Last year’s vote was: 185 countries in favor to 2 — the United States and Israel — against.

Speaking to journalists in Havana, Moreno insisted the embargo violates international law and the U.N. Charter, and constitutes genocide according to the 1948 Geneva Convention on the Prevention and Punishment of the Crime of Genocide.

Yesterday President Obama authorized the continuation of the embargo for another year under the Trading with the Enemy Act, stating that it is in “the national interest of the United States” to do so.

Moreno particularly attacked the extra-territoriality of the embargo listing various fines imposed by the U.S. on third country entities such as a $500 million fine against the Dutch Bank ABN Amro last year for “having carried out unauthorized financial transactions in which Cuba or Cuban Nationals had interests.”