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Cuba Deputy FM De Cossio Talks US Sanctions Hobbling Cuban Economy artwork

Cuba Deputy FM De Cossio Talks US Sanctions Hobbling Cuban Economy

Bloomberg Talks

September 25, 2026

Cuba Deputy Minister of Foreign Affairs Carlos Fernández De Cossío says sanctions are stifling the island’s efforts to overhaul its economy and embrace capitalist reforms, while speaking with Bloomberg News' David Dura in an interview slated to air on Bloomberg This Weekend.

Speakers David Dura, Carlos Fernández De Cossío

TopicsBusinessNewsBusiness News

SPEAKER_1 (0:02)

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David Dura (0:07)

I want to start with the state of talks, and I'm curious if they are ongoing between Cuba and the US.

Carlos Fernández De Cossío (0:14)

We continue to have communications. We are ready to meet, we've met every now and then. We want to keep this discreet. Both parties, we've agreed on that, and we don't like the leaks. But we're being ready to meet. Our point is that we don't see progress.

As the US continues to apply new measures, new pressure, new sanctions on the people of Cuba, and punishing their livelihoods, it's very difficult for us to believe that there are results.

David Dura (0:42)

The president says that he's meeting, meetings are taking place with the highest people in Cuba. That's you and who else? Who else is involved in these talks?

Carlos Fernández De Cossío (0:49)

I'm not among the highest people in Cuba, but again, we're discreet about this.

David Dura (0:53)

Why is that? Why have that level of discretion?

Carlos Fernández De Cossío (0:57)

Our experience has been that when you try to have dialogue in public, in the media, then you lose momentum and you lose the capacity to reach real... Above all, when there are very complex issues to be discussed, you reach the possibility of finding reasonable and suitable solutions for bilateral problems.

David Dura (1:18)

Can you say who the principals on the US side have been? Has it been Secretary of State Marco Rubio? Has it been his deputy Chris Landau? Has it been John Ratliff?

Carlos Fernández De Cossío (1:25)

No, I cannot say.

David Dura (1:26)

And why is that? I mean, I'm struck, having heard this from you, other officials just a reluctance to say even that, even something so basic. Why is that the case?

Carlos Fernández De Cossío (1:36)

We left the US to declare who the people are on these talks.

David Dura (1:40)

We're here at the UN General Assembly, and I'm curious how much this has been a subject of conversation at these meetings, and if you've had a chance to talk to your US counterparts while you've been here in New York.

Carlos Fernández De Cossío (1:50)

The delegations that attend are all interested on the subject. Many countries which are quite close to Cuba, that have a good relationship with Cuba, are concerned with the situation. So it is a common question for them. It is a matter of concern. They're very supportive of Cuba.

Whatever we can do, and we appreciate that. If there's a contribution, we'll let you know.

David Dura (2:15)

How useful, how important is that forum, having these 190-plus nations here gathered, having this international body to raise this issue?

Carlos Fernández De Cossío (2:22)

If you listen to the speeches, several of the head of delegation, which have been heads of state or heads of government in the past few years, I don't know the figure, but perhaps two dozens of them, as is typical, have stood up, expressed solidarity with Cuba, sympathy with Cuba, and asked for the end of the economic blockade against Cuba.

David Dura (2:43)

I continue to ask for details about these communications, these dialogues that you've been having. Would they benefit from having a mediator, from having a third party helping with these negotiations?

Carlos Fernández De Cossío (2:52)

We wouldn't discard it, but we have diplomatic relations. We have official channels of communication through their embassy in Havana or embassy in Washington, and we have the possibility to talk directly to the US. And we do have, I would say, frequent communication. It's not that we need someone to put us together in a specific place.

The point is finding an agenda, finding a common ground, and identifying a goal that we want to reach. It doesn't have to solve anything, everything, but has to at least say, okay, we agree that this we want to solve. How do we approach positions so we can get there?

David Dura (3:27)

Let's go there next. President Trump, speaking about Cuba in recent days, said, my administration is seeking a fundamental change in the situation in Cuba. Is it clear what the US objectives are, what they want to happen?

Carlos Fernández De Cossío (3:39)

Publicly, they have said that they want to take over Cuba, and that they want to control Cuba and control the Cuban economy, which is quite ambitious, above all because Cuba is a sovereign state.

Now, the president said more in his speech.

He said in his speech at the UN, he said that Cuba is a totally failed state. But in the same sentence, he says that the US is applying more pressure than ever or than ever been seen before. So he's recognizing that the reason of the failure is US pressure, which is quite remarkable. It's like having aggression against the victim and then blaming the victim for their situation in which they are.

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