Rule Of Fidel Castro

Castro's Policies



  • cut exorbitant utility rates charged by U.S. companies
    • provided compensation via state bonds
  • Agrarian Reform Law: confiscated estates and created cooperatives under management of the National Institute of Agrarian Reform
    • forbade foreigners from owning agricultural land
  • February 1960 - negotiated agreement with Soviet Union for $200 million over 4 years
    • less than Batista trade with Soviet Union
  • June 1960 - Texaco, Royal Dutch Shell, and Standard Oil demanded payment for imports
    • Castro canceled exclusive contract by the three and created the Cuban Petroleum Institute to find other supplies
    • no one in the West would trade with them
    • turn to Soviets to trade crude oil for sugar
    • Eisenhower cut Cuba's sugar quota
    • Cuba expropriated the oil companies
    • October 14th - U.S. trade embargo



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