We should have ended this embargo decades ago. We trade with China, with Russia but refuse to trade with little old Cuba because it has a communist govt??? HAVANA — Russian President Vladimir Putin pledged to help revive Cuba s struggling offshore oil exploration on Friday at the start of a six-day tour of Latin America as Russia aims to reassert its influence on the communist-ruled island. Putin was joined in Havana by close ally and so-called Russian oil czar Igor Sechin, the chairman of state oil company Rosneft, to finalize a deal to explore for oil off Cuba s northern coast. The Russian president also promised to reinvest $3.5 billion of Cuban debt with Russia into development projects on the island, part of a deal in which Russia forgave 90 percent of Cuba s debt, or almost $32 billion, most of it originating from Soviet loans to a fellow communist state. Both measures inject much-needed foreign investment into Cuba and demonstrate an act of defiance against the United States, which maintains a 52-year-old economic embargo that effectively shuts out many Western companies from doing business in Cuba .
Posted on: Sun, 13 Jul 2014 02:37:51 +0000
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