It imposed a blockade on trade between the United States and Cuba; ordered the Treasury Secretary to implement it with respect to imports, and the Secretary of Commerce to continue the blockade previously imposed on exports.
The Secretaries of Commerce and Treasury were also authorized to administer and modify the blockade.
Although the total blockade against Cuba was formally implemented by Washington on February 7, 1962, since 1959 the northern country had been applying this strategy against Cuba.
This policy -considered in international law as an act of war- was based on measures aimed at undermining vital points of the Caribbean nation.
Hence they applied the abolition of the sugar quota, then the main and almost the only support for the island’s economy and finances.
It also promoted the non- supply and refining of oil by American oil companies that monopolized energy activity.
According to the report ‘Necessity of ending the economic, commercial and financial blockade imposed by the United States of America against Cuba’, which covers the period between April 2017 and March 2018, U.S. policy in that period caused losses to Cuba estimated at 4.321 200 billion dollars.
The effect caused by the blockade on the sphere of foreign trade during the period amounts to 3,343,400,000 dollars.