American businesses heavily invested in Cuba during the late 19th and early 20th centuries, particularly in industries such as sugar, tobacco, and mining. By the 1950s, U.S. companies controlled a significant portion of Cuba's economy, including utilities and oil refineries. However, the Cuban Revolution in 1959 led to the nationalization of these businesses and strained U.S.-Cuba relations, resulting in economic sanctions and trade embargoes that persist to this day.
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