London, February 24 (RHC) -- The U.S. economic blockade against Cuba is embarrassing, anachronistic and a failure, according to an editorial in the British daily The Financial Times.

In an opinion piece on the subject, the British publication criticizes Washington's aggressive policy against Havana and says that "the moment has never been more propitious for a fresh approach."

The article says that while opposition to lifting the blockade is crumbling, U.S. public opinion increasingly favors normalizing relations with Cuba.

“Opening to Cuba now would improve U.S. standing in the region,” the editorial further stresses, noting the necessity to eliminate barriers in areas such U.S. travel to the island and bilateral trade.

According to estimates by the Cuban authorities, Washington's economic siege has caused Cuba monetary losses exceeding one trillion dollars. Additionally, the Financial Times article called for Cuba's removal from the U.S. State Department list of states that allegedly sponsor of terrorism. The editorial says: “Havana has played a crucial role in Colombia’s peace talks; Cuba’s continued inclusion, which brings tough financial strictures, makes a mockery of the list.”