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HAVANA, October 8 (Itar-Tass) - Damage caused by U.S. trade and economic sanctions to Cuba over more than fifty years can be described as "astronomic".
Cuban Deputy Foreign Minister Abelardo Moreno said on Monday that losses due to the sanctions, with the declining rate of the dollar to gold taken into account, exceeded $1.1 trillion.
The blockade is violation of the right for peace, development and security of a sovereign state, Moreno noted. The regime of sanctions was tightened in the past five years. During the time, constant persecuting and hampering Cuban international financial operations became priorities of Washington's policy to economically stifle the island. Besides, every day, more and more banks all over the world refuse to have deals with Cuba because of direct and indirect pressure from the United States. Havana views the blockade as the main obstacle for the country's development and describes it as an act of genocide, the deputy minister noted.
Moreno presented a report on “the Need to Put an End to the Economic, Trade and Financial Blockade Imposed by the United States against Cuba” that will be submitted to U.N. General Assembly discussion on October 29.
Last year, the General Assembly for the 21st time demanded that the United States lift the embargo regime against the island as soon as possible. The Cuban resolution was supported by 188 states, and only three -- Israel, Palau and the United States -- voted against it.