Cuba, U.S. to discuss mutual compensation for economic losses

Added On July 23, 2016

HAVANA, July 22 (Xinhua) -- Cuba and the United States will meet next week to discuss mutual compensation for economic losses, announced Josefina Vidal, the director of U.S. affairs at the Cuban Foreign Ministry, on Friday.

Writing on Twitter, she said the authorities of both countries will meet on July 28-29 for the second meeting on mutual compensation.

The two sides first met in Havana last December to discuss issues of compensation relating to losses caused by the conflicts between two neighbors over several decades.

Two separate types of losses are under discussion. For the U.S. side, these losses refer to losses for American companies and citizens when Cuba nationalized their properties. The U.S. side is seeking just under 9 billion U.S. dollars for this. However, this is far less than the damages being sought by Cuba due to the ongoing embargo, which reaches 121 billion U.S. dollars in economic damages and 181 billion U.S. dollars in "human damages".

Vidal also announced that representatives of the two countries had met in Havana this week to sign an agreement to jointly fight drug trafficking.

On July 20, the U.S. and Cuba celebrated the first anniversary of the restoration of diplomatic relations.