Cuba Would Consider Compensating for Private Properties

In an unexpected shift that could mark a turning point in the tense relations between Washington and Havana, the Cuban government has expressed its willingness to discuss compensation for the properties of U.S. citizens and companies confiscated following the victory of the Revolution in 1959.

A Historic Change in Stance

According to sources close to recent diplomatic talks, Cuban officials have put on the table the possibility of compensation through a “lump sum” payment. This issue has been one of the primary obstacles to normalizing relations for decades, bolstered by laws such as the Helms-Burton Act.

The proposal comes at a time of extreme economic strangulation on the island, characterized by constant blackouts, food shortages, and skyrocketing inflation. The openness to negotiating these claims, which amount to billions of dollars according to the U.S. Department of Justice, is seen as a desperate attempt to alleviate sanctions and attract investment.

Havana’s Conditions

However, the offer does not come without strings attached. The Cuban government maintains that any compensation agreement must also include reparations for the economic damages caused by the U.S. embargo (the blockade) for over sixty years.

Experts suggest that Cuba could propose alternative mechanisms, such as the restitution of properties through usage concessions or the deduction of mutual debts.

Frequently Asked Questions (FAQ)

1. What types of properties were confiscated in 1959? These included oil refineries, sugar plantations, hotels, banks, and private properties of U.S. citizens and Cubans who later acquired U.S. nationality.

2. How much do the certified claims amount to? There are nearly 6,000 claims certified by the U.S. Foreign Claims Settlement Commission (FCSC), with an original value of $1.9 billion, which today, with interest, exceed $10 billion.

3. Why is Cuba proposing this now? The island is facing its worst economic crisis in decades and is desperately seeking the lifting of sanctions and the removal of Cuba from the list of state sponsors of terrorism to regain access to the international financial system.

4. What has the U.S. government said? Washington has not issued a final official response, but it has historically maintained that resolving certified claims is a prerequisite for a full lifting of the embargo.

Sources: CiberCuba, Cuba en Miami, Periodicó Cubano.