General Assembly votes overwhelmingly against US Cuba embargo
news.un.org
The UN General Assembly on Thursday voted by a large margin against the United States’ economic and trade embargo against Cuba, first imposed in 1960. A total of 187 States voted for the resolution put forward each year against the embargo with only the US and Israel voting against and Ukraine abstaining.
  • viking@infosec.pub
    111·
    7 hours ago

    The issue is that the USD is the main trade currency in the world, and all transactions in USD need to be cleared by banks in the US. Since Cuba is banned from trading in USD, they need to trade directly in their import/export partners home currency, which exposes them to additional currency fluctuations, and complicates the whole settlement process.