In early 2021, Cubans faced a triple crisis. Since 2017, Donald Trump had decreed 243 presidential measures to make the long-standing US embargo tighter than at any time since the mid 1960s. The COVID-19 pandemic exacerbated the problem by closing Cuba’s borders to tourism, a major source of hard currency. Meanwhile, in January 2021, the long-awaited fusion of Cuba’s challenging dual currency system generated worrying uncertainties and rising prices for many.

Three years on, the crisis seems to have gotten worse rather than better. Despite early hopes, Joe Biden never repealed Trump’s measures. Instead, he has increased pressure on Cuba’s economy.

Most damagingly, Washington has upheld Trump’s farewell gift to Cubans before leaving office: his move to place Cuba on the list of “state sponsors of terrorism.” This is a status that most governments reject but one that is increasingly recognized de facto by European banks and insurance companies wary of US sanctions.