Bloomberg BNA quotes Adrienne Arsht Latin America Center Deputy Director Jason Marczak on the obstacles and process of opening trade with Cuba:
“That number is a marker for the Cubans to basically say, ‘We’re not going to pay $7 billion and here’s why,’ ” said Jason Marczak, deputy director of the Adrienne Arsht Latin America Center at the Washington-based Atlantic Council.
Cuban officials have said removing the embargo is just one necessary step toward normalizing relations between the U.S. and the Communist nation. Other conditions include returning Guantanamo Bay and staying out of the island’s affairs.
The Atlantic Council’s Marczak said any resolution would probably involve “privileged market access” for U.S. companies in Cuba.
“It’s not politically feasible for the Cuban government to pay corporations and individuals for the property that was seized; that won’t fly domestically to do that,” he told Bloomberg BNA. “What is more probable is that there will be some type of deal worked out where Cuba grants corporations some kind of privileged access into the Cuban market, and that ends up being a win-win.”
How the claims from individuals and families—as opposed to companies—might be resolved is a much more difficult issue because these claimants or their successors simply want to get paid, Marczak said.