U.S. State Dept Confirms reports US-Cuba Property Settlement Negotiations to begin Dec 8, 2015
This evening the U.S. State Dept confirmed the story posted a few days ago by us, regarding the New York Times story of US-Cuba property settlement negotiations. The extent of the talk is not known.
Cuban law ties the settlement of the claims to U.S. reparations for damages resulting from the embargo and other acts of U.S. aggression against Cuba. Cuban estimates of that damage range from $121 billion to more than $300 billion.
“The meeting is the first step in what we expect to be a long and complex process, but the United States views the resolution of outstanding claims as a top priority for normalization,” the U.S. State Department said in a statement on Monday, reported by Reuters.
Cuba nationalized all foreign businesses and reached settlements with owners from other countries. The government recognizes the U.S. claims but it cut off negotiations in response to the decision by former President Dwight Eisenhower to suspend Cuba’s sugar quota in 1960.