Cuban economy lost $96 bln from U.S. trade embargo - minister

A damage inflicted on the Cuban economy by the United States' 47-year-old trade embargo totals $96 billion, the Cuban foreign minister said.

HAVANA, September 17 (RIA Novosti) - A damage inflicted on the Cuban economy by the United States' 47-year-old trade embargo totals $96 billion, the Cuban foreign minister said.

"Cuba's loss from the economic, trade and financial blockade, which has been imposed by the United States for almost half a century, totals some $96 billion," Bruno Rodriguez said at a news conference in Havana on Wednesday.

On Tuesday, United States President Barack Obama extended the trade embargo on Cuba by one year again.

The extension is technical and has taken place since 1961. Even if Obama had not signed the order extending the embargo under the Trading With the Enemy Act, the sanctions would have remained as a result of the Helms-Burton Act passed in 1996 that requires special action from Congress to end them.

Obama has repeatedly voiced the intention to improve relations with Cuba. In early April the U.S. canceled restrictions on money transfers to U.S. nationals' Cuban relatives.

The UN General Assembly has adopted resolutions demanding that the U.S. sanctions be lifted since 1992. Havana regards the American embargo as genocide of the Cuban nation.