Obama Administration’s folly: copying French on Cuba policy
Under the U.S. embargo American companies made $5.2 billion dollars in cash and carry trade with Cuba while at the same time with normal relations and financial institutions providing credits, France lost $4 billion to Cuba.
France is forgiving $4 billion dollars the Castro regime owes it on payments that are 30 years late. Meanwhile companies in the United States between 2000 and 2016 earned $5.2 billion dollars on a cash and carry basis. The Obama Treasury Department effective January 27, 2016 joined France and the rest of the world in legalizing financing of transactions between U.S. companies and the Castro regime.
This not only goes against U.S. law and the will of Congress as U.S. Senator Bob Menendez explained, but means that U.S. taxpayers will now be joining French taxpayers in subsidizing the Castro dictatorship.
This at a time when human rights continue to deteriorate on the island and the calls of international human rights NGOs, such as Reporters Without Borders, for Western countries to hold the Castro regime accountable are ignored.