U.S. trade embargo persists despite thaw in ties, Cuba says

The U.S.-led trade embargo against Cuba continues to hamper the country's economic development, despite thawing relations between the two former adversaries, a top Cuban official said on Friday.

Cuba's Foreign Affairs Minister Bruno Rodriguez released the government's latest report on the impact of the "blockade," a term Cuba used to describe a web of sanctions that prevents it from having normal trade, economic and financial ties with other countries.

"There is no aspect of Cuba that does not suffer the consequences of the blockade. The application of this policy impacts services, healthcare, education, the economy, prices, wages, food and social security," Rodriguez said at a press conference.

"The impact of the blockade cannot be underestimated. It is the principal obstacle to national development," added Rodriguez.

Next month, said Rodriguez, Cuba will once again present the annual report to the United Nations General Assembly, which has consistently voted for an end to the embargo.

Between April 2015 and March 2016, the blockade has caused about 4.68 billion U.S. dollars in losses to the cash-strapped economy, the report estimates.

Over the nearly six decades the blockade has been in effect, total losses to Cuba's economy amount to 753.688 billion dollars.

"Wouldn't our economic situation be better without all these obstacles?" Rodriguez asked.

Cuba and the U.S. have restored diplomatic ties in July 2015, and Washington has relaxed certain restrictions, but the blockade largely remains in place despite U.S. President Barack Obama calling for the lifting of the embargo.

Obama has said that decision remains with the Republican-controlled Congress.

In the 21 months since the two nations agreed to reestablish relations, Washington's measures regarding the blockade have been "limited and insufficient," said the foreign minister.

Prior to his historic visit to Havana in March, "President Obama announced Cuba would be able to use the U.S. dollar in its international transactions, however so far that hasn't happened and our financial operations are still persecuted by U.S. regulatory agencies," Rodriguez said.

During Obama's presidency, both U.S. and foreign banks have been fined more than 14 billion dollars by the Treasury Department for doing business with Cuba, a sign of the blockade's global scope, he said.

Last year, nearly all UN member countries, 191, voted in favor of lifting the embargo, and only two opposed the measure, the U.S. and its stalwart ally Israel. Enditem